On January 9, the Shenzhen Financial Regulatory Bureau issued the "Approval on the Absorption and Merger of Shenzhen Longhua Xinhua Village Bank Co., Ltd. by Guangdong Shunde Rural Commercial Bank Co., Ltd.", agreeing to the bank's absorption and merger of Shenzhen Longhua Xinhua Village Bank Co., Ltd.
The bank is also authorized to assume all assets, liabilities, business operations, branch networks, employees, and other rights and obligations of Shenzhen Longhua Xinhua Village Bank Co., Ltd. following the completion of asset and liability verification.
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