the turning point in financial supervision: from village banks to state-controlled city commercial banks

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in recent years, financial regulatory authorities have played an important role in promoting financial market reform, especially playing a key role in the development and transformation of the rural banking industry. a state-controlled city commercial bank, guangdong nanyue bank developed rapidly from its initial village banking business and eventually became the focus of financial regulatory authorities. as an important part of the bank, zhongshan guzhen nanyue rural bank has experienced major changes from a rural bank to a state-controlled city commercial bank. in december 2021, guangdong yuecai investment holdings co., ltd. was introduced as a strategic controlling shareholder, and it was eventually transformed into a state-owned city commercial bank.

in 2023, with the comprehensive upgrade of financial supervision and policy changes, the business scope of guangdong nanyue bank will undergo major changes. zhongshan ancient town nanyue rural bank was dissolved due to the acquisition of zhongshan ancient town nanyue rural bank. the financial regulatory authorities’ handling of this incident and the requirements of relevant laws and regulations are an important symbol of the transformation and upgrading of the financial industry. this incident also reflects the important concern of financial regulatory agencies on the operational standards of commercial banks and the stability of financial markets.

transformation from village banks to state-owned city commercial banks

as an important part of guangdong nanyue bank, zhongshan ancient town nanyue rural bank has experienced a major transformation from a rural bank to a state-owned city commercial bank.

in 2021, guangdong nanyue bank’s strategic adjustment was officially launched. introduced guangdong yuecai investment holdings co., ltd. as a strategic controlling shareholder, and eventually transformed into a state-owned city commercial bank. this change reflects the financial regulatory authorities’ concerns and needs for the development of the financial industry and market supervision.

impact of financial regulation:

financial regulation also has a profound impact on bank operations. it is needed to ensure that banks operate safely and prevent illegal activities. at the same time, financial regulatory agencies will also review the bank's business scope and operating model.