Guizhou Rural Commercial United Bank Approved to Commence Operations, Multiple Executives' Qualifications Approved

Deep News12-15

On December 15, the Guizhou branch of the National Financial Regulatory Administration issued an official approval for the opening of Guizhou Rural Commercial United Bank Co., Ltd. The bank is now authorized to commence operations.

The approval specifies the bank's official Chinese abbreviation as Guizhou Rural Commercial United Bank, with the English name Guizhou Rural Commercial United Bank Co., Ltd. (abbreviated as Guizhou Rural Commercial United Bank). Its registered address is No. 51 Changling North Road, Guanshanhu District, Guiyang City, Guizhou Province, with a registered capital of RMB 10.458 billion.

Shareholding structure details are as follows: - Guizhou Provincial Department of Finance: investment of RMB 1.572 billion, holding 1.572 billion shares (15.032% stake). - Guizhou Financial Holding Group Co., Ltd. (Guizhou Guimin Investment Group Co., Ltd.): investment of RMB 6.886 billion, holding 6.886 billion shares (65.844% stake). - Kweichow Moutai Group Co., Ltd.: investment of RMB 1 billion, holding 1 billion shares (9.562% stake). - Guizhou Qiansheng State-owned Assets Management Co., Ltd.: investment of RMB 1 billion, holding 1 billion shares (9.562% stake).

The approved business scope includes: - Handling or acting as an agent for clearing and settlement services within the Guizhou Rural Commercial Bank system. - Participating in capital markets to facilitate financing for the system. - Coordinating fund allocation among member banks. - Conducting other financial activities approved by regulatory authorities.

The approval also confirmed the executive appointments: - Yang Song: Director and Chairman. - Yang Hongjun: Director, Vice Chairman, and President. - Hu Yu, Zhou You, Hu Heng, and Xia Tianrong: Directors. - Yao Zhengqiang: Employee Director. - Jiang Qi, Tang Haiqing, Li Shoubing, and Huang Caihua: Independent Directors. - Li Li, Zhang Jinlu, Chen Jie, and Feng Wanhua: Vice Presidents.

Additionally, the regulator stated that upon the bank’s opening, the former Guizhou Rural Credit Cooperatives Union will be dissolved, with all assets and liabilities transferred to the new entity. Guizhou Rural Commercial United Bank must commence operations within six months of obtaining its business license.

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