Rural Commercial Banks in China Rise to 1423, Rural Credit Societies Post Decline

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The number of rural commercial banks operating in China has seen an increase following the conversion rural credit societies into fully fledged lenders.

Rural Commercial Banks in China have risen from 1397 at the end of 2018 to 1423 at present according to a report from National Business Daily.

By contrast the number of rural credit societies in China has fallen from 812 at the end of 2018 to 782 at present.

Data from the China Banking and Insurance Regulatory Commission (CBIRC) further indicates that as of the end of 2019 China was host to a total of 4597 banking sector financial institutions, for an increase of 9 since the end of last year.

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