China Credit Cooperative refers to China Rural Credit Cooperative, which is a bank in the form of enterprise organization. It is composed of individuals and organizations voluntarily, and operates by membership system, providing financial services such as deposits, loans and wealth management.

China Credit Cooperatives, formerly known as rural credit cooperatives, was founded in 1950s. At first, it was a credit cooperative organization voluntarily organized by farmers and small rural vendors, aiming at supporting the production development of local farmers and small rural enterprises. With the rapid development of economy and the change of market, the credit cooperative bank has gradually developed into a comprehensive financial service institution.

Are rural credit cooperatives rural commercial banks?

No, rural credit cooperatives and rural commercial banks are two different concepts. However, some rural credit cooperatives have become rural commercial banks after joint-stock reform and reorganization. According to the relevant national policies, this reform mainly occurs in areas with relatively developed economy and high degree of urban-rural integration.

In these areas, the rural economy has undergone great changes, and the proportion of agriculture is relatively low. Therefore, rural credit cooperatives have also begun to operate commercially. Some rural credit cooperatives can be reorganized into rural commercial banks through shareholding system reform.