● 李玉敏李蕴奇 近日，贵州农信社改革取得标志性突破，贵州农商联合银行获批开业。引人注目的是，中国贵州茅台 （600519）酒厂(集团)有限责任公司作为重要股东入股。业内人士认为，茅台集团的入股将为新组建的 省级农商联合银行带来资本实力、市场信誉和产业链生态的深度协同。展望明年，专家表示，"一省一 策"农信社改革将在化险的基础上，进行一系列制度建设，以达到固本培元的效果。 推行联合银行模式 2025年中央一号文件提出，"一省一策"加快农信社改革。这是中央一号文件连续第六年强调农信社改 革。近年来，按照"一省一策"的思路，各省不断深化农信社改革。其中，浙江、陕西、四川、广西、贵 州等省份推行了联合银行模式，而辽宁、海南等省份则选择统一法人模式。 根据大公国际发布的报告，联合银行模式具有两项主要特征：一是两级法人架构，即省级联合银行与县 域农商行均保持独立法人地位，通过股权纽带形成协同体系。二是有限牌照经营。省级联合银行不从事 吸收公众存款与发放贷款等商业银行业务，主要提供资金清算结算、资金调剂、参与资金市场等服务， 以避免与基层农商行或农信社的直接竞争。 中国邮政储蓄银行研究员娄飞鹏表示，贵州选择组建省级农商联 ...

● 李玉敏 李蕴奇 近日，贵州农信社改革取得标志性突破，贵州农商联合银行获批开业。引人注目的是，中国贵州茅台酒 厂（集团）有限责任公司作为重要股东入股。业内人士认为，茅台集团的入股将为新组建的省级农商联 合银行带来资本实力、市场信誉和产业链生态的深度协同。展望明年，专家表示，"一省一策"农信社改 革将在化险的基础上，进行一系列制度建设，以达到固本培元的效果。 茅台集团参股 国家金融监督管理总局贵州监管局的批复公告显示，贵州农商联合银行注册资本104.58亿元，贵州省财 政厅、贵州金融控股集团有限责任公司、中国贵州茅台酒厂（集团）有限责任公司、贵州省黔晟国有资 产经营有限责任公司的持股比例分别为15.032%、65.844%、9.562%、9.562%。贵州农商联合银行开业 之日，原贵州省联社自行终止，其债权债务由贵州农商联合银行承继。 明年聚焦多项工作 展望明年，专家表示，农信社改革将按照既定路径持续推进，在化险的基础上，进行一系列制度建设， 以达到固本培元的效果。 曾刚表示，明年中小银行改革化险与农信社改革的重点可能集中在"稳风险、强治理、补资本、提能 力"。首先，加快改革进度，剩余省份农信社改革将提速，推 ...

Core Viewpoint - Guizhou Rural Commercial Bank has been approved to commence operations, with a registered capital of 10.458 billion RMB, and significant shareholding from Guizhou Moutai and Guizhou Financial Holdings [1][2]. Shareholding Structure - Guizhou Provincial Finance Department contributed 1.572 billion RMB, holding 15.032% of shares - Guizhou Financial Holdings contributed 6.886 billion RMB, holding 65.844% of shares - Guizhou Moutai contributed 1 billion RMB, holding 9.562% of shares - Guizhou Qiansheng State-owned Assets Management contributed 1 billion RMB, holding 9.562% of shares [1][2]. Bank Formation and Leadership - The establishment of Guizhou Rural Commercial Bank was approved following the termination of the original Guizhou Provincial Rural Credit Cooperative Union, with all debts and credits transferred to the new bank - The first leadership team includes Yang Song as Chairman and Yang Hongjun as Vice Chairman and President [2]. Rapid Development - The bank's establishment process took less than a year, indicating a swift development [3]. Banking Model - The "Joint Bank" model was adopted for the reform, allowing provincial banks to control county-level banks while retaining their legal status, which is seen as a cost-effective and flexible approach [4][5]. Asset Scale - Guizhou Rural Commercial Bank is expected to become the first bank in Guizhou with assets exceeding 1 trillion RMB, with the provincial rural credit system's total assets reaching 1.1591 trillion RMB by October 2025, showing a significant increase since 2020 [6].

Core Viewpoint - The recent approval by the Guangxi Regulatory Bureau of the National Financial Supervision Administration for the merger of Laibin Rural Commercial Bank with five other rural financial institutions signifies a trend towards consolidating local rural banks into unified legal entities, enhancing financial resource allocation efficiency and risk management [2][3][4]. Summary by Sections Merger Details - Laibin Rural Commercial Bank will absorb and merge with Wuxuan Rural Commercial Bank, Jinxiu Rural Commercial Bank, Xiangzhou Rural Cooperative Bank, Xincheng County Rural Credit Cooperative, and Heshan Rural Credit Cooperative, leading to the cancellation of their legal entities and their transformation into branches of Laibin Rural Commercial Bank [3][4]. - The merger plan has been in preparation since July 1, with clear guidelines on asset, business, and shareholder rights transfer [4]. Background and Context - Laibin Rural Commercial Bank has undergone several reforms since its establishment in 1953, evolving through various stages to its current form [5]. - The merger reflects a broader trend in the Guangxi rural financial system aimed at "reducing quantity and improving quality," with the establishment of the Guangxi Rural Commercial Union Bank serving as a guiding framework for such consolidations [5]. Exploration of Models - The reform of rural financial systems in China is accelerating, with two main models being explored: the unified legal entity model and the joint bank model [6]. - The unified legal entity model has been adopted in provinces like Liaoning, Hainan, and Henan, focusing on resource consolidation through mergers [9]. Expert Opinions - Experts highlight the advantages of the unified legal entity model in risk management and resource allocation, while also noting the challenges such as high reform costs and potential loss of local flexibility [10][11]. - The joint bank model retains local independence but may face limitations in risk management and structural issues [11].

Core Insights - The core viewpoint of the news is that Henan Rural Commercial Bank has officially absorbed and merged 82 institutions, marking a significant step in the reform of the rural credit system in Henan Province [1][9]. Summary by Sections Announcement of Merger - On September 28, Henan Rural Commercial Bank announced the approval from the National Financial Supervision Administration of Henan to absorb and merge 82 institutions, including rural commercial banks and village banks from nine cities [1][2]. Implications of the Merger - This merger is seen as a crucial measure in the ongoing reform of the rural credit system, reflecting the "one province, one policy" approach and the practice of a unified legal entity model [1][9]. Details of the Merger - Following the merger, Henan Rural Commercial Bank will inherit all assets, liabilities, businesses, personnel, branches, and other rights and obligations of the absorbed institutions, with existing customer accounts and services remaining unchanged [3]. Historical Context of Reforms - The reform of the rural credit system in Henan has been gradual, with previous adjustments including the approval of a reform plan in 2022 and the establishment of Henan Rural Commercial Bank in 2023 [4][5]. Shift in Reform Strategy - The reform strategy has shifted from a "joint bank" model to a "unified legal entity" model, which is more comprehensive and suitable for provinces with fewer legal entities [7][8]. Broader Trends in Other Provinces - Other provinces, such as Xinjiang and Gansu, are also transitioning from a joint bank model to a unified legal entity model, indicating a broader trend in the reform of rural credit systems across China [8][9].

Core Viewpoint - Gansu Province is making significant progress in the establishment of a provincial rural commercial bank, transitioning from the initial plan of a "Gansu Rural Commercial Union Bank" to a unified legal entity model for the "Gansu Rural Commercial Bank" [1][2][4]. Group 1: Progress in Establishment - Gansu Jinchang Rural Commercial Bank and Gansu Yongchang Rural Commercial Bank announced temporary shareholder meetings to discuss the establishment of the Gansu Rural Commercial Bank [1][4]. - The Gansu rural financial institutions currently include 37 rural commercial banks, 5 rural cooperative banks, and 41 county-level cooperatives, covering 86% of administrative villages and 90% of farmers [1]. - The asset quality of Gansu's rural financial institutions has been inconsistent, with non-performing loan rates exceeding 6% for three consecutive years from 2019 to 2021 [1]. Group 2: Government Support and Reforms - In 2021 and 2022, Gansu issued special bonds of 12.6 billion and 30 billion yuan respectively to support the development of small and medium-sized banks [2]. - The 2023 government work report indicated a shift in focus towards the establishment of a unified legal entity model for the Gansu Rural Commercial Bank, moving away from the previously proposed union bank model [2][4]. - The Gansu Rural Credit Union's 2024 work report suggests that the reform plan is nearing approval, with 2025 marked as the year for the implementation of the reform [3]. Group 3: Reform Models and Trends - The unified legal entity model is seen as a more thorough reform approach, suitable for provinces with fewer legal entities and a higher level of economic development [6]. - Other provinces, such as Henan and Xinjiang, have also switched to the unified legal entity model, indicating a broader trend in regional financial reforms [8][11]. - The central government's focus on rural credit cooperative reform has been consistent, with multiple provinces successfully establishing new "trillion banks" [14].

Core Viewpoint - The establishment of the Guizhou Rural Commercial Union Bank is officially underway, aiming to enhance local financial institutions and support rural credit reforms in Guizhou province [1][3]. Group 1: Establishment and Structure - The Guizhou Rural Commercial Union Bank will be formed by canceling the legal status of the Guizhou Rural Credit Cooperative Union and establishing a new joint-stock company [3]. - The new bank will inherit all business, assets, and liabilities from the Guizhou Rural Credit Cooperative Union, pending approval from financial regulatory authorities [3]. - The establishment process will involve hiring qualified intermediaries for asset evaluation and financial audits [3]. Group 2: Financial Performance and Scale - Guizhou Rural Credit has a network of 2,293 branches and over 28,000 employees, with deposits exceeding 922.9 billion and loans surpassing 709.5 billion [4]. - The total assets of Guizhou Rural Credit exceeded 1 trillion, reaching 1,070.45 billion [4]. Group 3: Involvement of State-Owned Enterprises - Guizhou Financial Holding Group and Qiansheng State-owned Assets will play significant roles in the reform process [5][8]. - Guizhou Financial Holding Group, established in December 2016, operates across various financial sectors, including banking and asset management [6]. - Qiansheng State-owned Assets focuses on capital operation management and holds stakes in several companies, enhancing its financial capabilities [7]. Group 4: Reform Models and Trends - The joint bank model is seen as a cost-effective reform that maintains a multi-level governance structure, suitable for provinces with many quality rural commercial banks [9][10]. - The "upward participation" model allows the provincial bank to optimize the equity structure of rural financial institutions, improving governance [10]. Group 5: Broader Context of Rural Bank Reforms - Other provinces, such as Jilin, are also advancing their rural bank reforms, with Jilin Rural Commercial Bank's establishment approved recently [11][12]. - The trend of establishing provincial rural commercial banks is accelerating, with several banks already launched in 2024 [14]. - The Xinjiang region is also working towards establishing a unified rural commercial bank, aiming for completion by 2025 [15].

Core Viewpoint - The establishment of Guizhou Rural Commercial Bank is a significant step in the ongoing reform of rural credit cooperatives in China, with the aim of enhancing local financial institutions and improving their operational efficiency [1][2][5]. Group 1: Establishment of Guizhou Rural Commercial Bank - Guizhou Rural Commercial Bank is set to be established based on the Guizhou Provincial Credit Union, with all business, assets, and liabilities being transferred to the new entity upon its formation, pending regulatory approval [1][2]. - The decision to form the bank was made during a member meeting of the Guizhou Provincial Credit Union, which also authorized a working group to oversee the establishment process [2][5]. Group 2: Acceleration of Rural Credit Cooperative Reforms - As of now, six provinces in China have established provincial-level rural commercial banks, including Zhejiang, Shanxi, Sichuan, Guangxi, Jiangsu, and Jiangxi, while four provinces have set up provincial-level rural commercial banks [1][8]. - The Guizhou provincial government has included the acceleration of rural credit cooperative reforms in its work reports for multiple years, indicating a strong commitment to this initiative [2][4]. Group 3: Support from Local Financial Institutions - Guizhou Financial Holdings Group has engaged in discussions with the Guizhou Provincial Credit Union regarding potential investments and support for the reform process [5]. - The Guizhou Provincial Credit Union is actively seeking partnerships with local state-owned enterprises to facilitate the reform and enhance its capital structure [5][6]. Group 4: Broader Context of Rural Financial Reforms - The ongoing reforms are part of a larger trend across China, with various provinces moving towards establishing unified legal entities for rural commercial banks to streamline operations and improve governance [10][11]. - The reform models being adopted vary, with some provinces opting for a unified legal entity model while others maintain a cooperative structure, reflecting the diverse needs and conditions of different regions [11].

Core Viewpoint - The Guangdong Provincial Association of Rural Credit Cooperatives has outlined its reform direction, emphasizing the establishment of rural commercial banks and the promotion of a joint banking model as part of the ongoing rural financial system reform [1][3]. Group 1: Reform Overview - The Guangdong Provincial Association has been pivotal in the reform of the rural credit system, focusing on financial supply-side structural reforms and the establishment of rural commercial banks [1][2]. - The reform aims to enhance the management autonomy of well-performing rural commercial banks while maintaining a competitive market structure [1][2]. - The joint banking model is identified as a mainstream reform approach, aligning with the existing development framework of Guangdong's rural credit system [1][6]. Group 2: Historical Context - The reform initiative began in 2017, with the goal of transforming all rural credit cooperatives into rural commercial banks by 2020, which was successfully achieved [2]. - By 2020, 64 rural credit cooperatives had been restructured, and several rural commercial banks have since been managed directly by local governments [2][4]. - The current competitive landscape features a mix of banks managed by the provincial association and those under local government control, creating a diverse banking ecosystem [2][3]. Group 3: Financial Performance - As of the end of 2024, the total assets of the 81 rural commercial banks in Guangdong reached 4.80 trillion yuan, reflecting a year-on-year growth of 3.79% [4]. - The banks collectively reported a financial income of 160.56 billion yuan, with a pre-provision profit of 46.30 billion yuan and a net profit of 24.29 billion yuan [4]. Group 4: Leadership Changes - In October 2024, Mai Yanthou was appointed as the chairman of the Guangdong Provincial Association, having previously held various positions in the financial sector [5]. - Liu Peng was also appointed as the deputy secretary of the association, bringing experience from regulatory roles in the banking sector [5]. Group 5: Joint Banking Model - The joint banking model allows for the preservation of the independent legal status of rural financial institutions while facilitating resource integration and business collaboration [6][8]. - This model is seen as cost-effective and less disruptive, minimizing potential conflicts during the reform process [7][8]. - The approach can be implemented through either a top-down or bottom-up method, with various provinces adopting different strategies for their reforms [7][8].

Core Viewpoint - The establishment of Henan Rural Commercial Bank marks a significant adjustment in the reform model of the rural credit system in Henan Province, aiming to enhance financial stability and risk management in the region [1][2]. Group 1: Establishment and Structure - On February 26, the approval from the Financial Regulatory Bureau of Henan confirmed the opening of Henan Rural Commercial Bank and 891 branches, with a registered capital of RMB 29.247 billion [1]. - The bank was formed through the merger of 25 institutions, including the Henan Rural Commercial Union Bank and several local rural banks, inheriting all assets, liabilities, and operational rights from these entities [1][2]. Group 2: Reform Context and Objectives - The establishment of Henan Rural Commercial Bank is part of a broader reform initiative, with the goal of addressing financial and local debt risks, as outlined in the government's measures for economic stability [2]. - The reform emphasizes a unified legal entity model, which is seen as beneficial for smaller economic regions with multiple potential risk institutions, allowing for centralized risk management and scale effects [2]. Group 3: Regional Adaptation and Policy Support - The reform approach must be tailored to the specific economic conditions and financial needs of each province, avoiding a one-size-fits-all strategy [3]. - The central government's recent policy document stresses the importance of supporting rural small and medium-sized banks and encourages a province-specific strategy for reforming rural credit cooperatives [3][4].