On November 18, the official website of Shanxi Rural Commercial United Bank (referred to as "Shanxi RCUB") announced that Xiang Dihai, the newly appointed Party Committee Secretary, conducted a research visit to Jinzhong on November 16 to assess the progress of rural commercial bank reforms and risk mitigation efforts. During the visit, he listened to work reports from the Jinzhong Management Center as well as Pingyao Rural Commercial Bank and Yuci Rural Commercial Bank.
This marks the completion of the leadership transition, with Xiang Dihai succeeding Ren Kai as Party Committee Secretary. According to the bank’s website, Ren Kai, who was born in March 1972, had served as the inaugural president of Shanxi Bank before assuming the roles of Party Committee Secretary and Chairman of Shanxi RCUB in May 2024. As recently as November 3, Ren led a delegation to the Shanxi Provincial Energy Bureau to discuss deepening cooperation between banks and the government in supporting energy transition initiatives.
Xiang Dihai, born in November 1976, previously held the position of Deputy Secretary-General of Shanxi Provincial Government (at the department-level). During the preparatory phase of Shanxi RCUB, he served as Deputy Head of the Preparatory Team and presided over the bank’s founding meeting and first shareholders’ assembly.
Shanxi RCUB was established in November 2023 through the restructuring of the Shanxi Provincial Rural Credit Cooperatives Union. As of the end of 2024, the bank had a registered capital of RMB 5 billion, with the Shanxi Provincial Department of Finance as its largest shareholder, holding a 94% stake.
Notably, Shanxi RCUB is one of the first rural commercial united banks in China to adopt a "top-down" restructuring model. It operates under a "two-tier legal entity, three-tier Party committee" structure. By the end of September 2025, the bank had invested in seven county-level legal entities, established 25 functional departments, five operational centers, and 16 regional branches. It oversees 108 county-level institutions, including 102 rural commercial banks and six credit unions, with a total of 2,855 branches.
Shanxi RCUB is also the first financial institution in the province to achieve deposits exceeding RMB 1 trillion. As of September 2025, its county-level institutions reported total deposits of RMB 1.460787 trillion, a net increase of RMB 84.284 billion since the beginning of the year. Total loans stood at RMB 927.02 billion, up RMB 51.22 billion year-to-date, with loans supporting agriculture and small businesses accounting for 81.86% of the increase in entity loans.
In terms of financial performance, the bank generated revenue of RMB 509 million and net profit of RMB 142 million in the first three quarters of the year. Total assets reached RMB 68.735 billion, with liabilities at RMB 62.562 billion by the end of September.
During his visit to Jinzhong, Xiang Dihai emphasized the importance of risk mitigation, development acceleration, team building, and Party construction. He urged efforts to resolve risks systematically while maintaining financial stability and highlighted the role of discipline inspection commissions in enforcing accountability and fostering a clean political environment.
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