新“万亿银行”排队登场

Core Viewpoint - The reform of provincial credit cooperatives has accelerated since 2025, with multiple provinces establishing new rural commercial banks, indicating a significant shift in the rural financial landscape and the emergence of "new trillion banks" [1][7][8]. Reform Progress - As of February 28, 2025, several provincial credit cooperatives have been approved or established, including Jiangsu, Jiangxi, and Henan, with the latter two officially founded within a month of approval [1][6]. - The reform has been implemented in 10 provinces, including Zhejiang, Shanxi, and Sichuan, with many rural financial institutions exceeding one trillion yuan in assets [1][7]. Asset Scale - The asset totals for various provincial rural commercial banks as of the end of 2024 include: - Zhejiang: 6 trillion yuan - Sichuan: 2.4 trillion yuan - Henan: 2.58 trillion yuan - Jiangxi: 1.3 trillion yuan - Guangxi: 1.37 trillion yuan [2][8]. Reform Models - The reform paths include the rural commercial bank model, unified legal person model, financial holding company model, and financial service company model, with most provinces adopting the first two [9][10]. - The "provincial rural commercial bank" model retains a single provincial legal entity, while the "provincial rural commercial bank" model maintains independent legal status for local banks, allowing for more localized flexibility [9][10]. Challenges and Considerations - The reform faces challenges such as balancing risk mitigation with grassroots service needs, and the complexity of integrating numerous local institutions [3][17]. - The historical context of rural credit cooperatives, which have evolved from non-profit mutual aid organizations to commercial entities, adds layers of complexity to the current reform efforts [13][14]. Future Directions - The reform aims to clarify ownership structures, improve governance, and enhance the operational efficiency of rural financial institutions [17][18]. - Ongoing efforts include capital supplementation, bad debt management, and strengthening regulatory oversight to ensure sustainable financial operations [18][19].