Registered Capital Exceeds 44.9 Billion! First Provincial Agricultural Commercial Bank Born at the Start of the Year

Tianyancha information shows that on March 17, Gansu Rural Commercial Bank Co., Ltd. (hereinafter referred to as “Gansu Rural Bank”) officially completed industrial and commercial registration, with a registered capital of 44.919 billion yuan.

The establishment of Gansu Rural Bank was remarkably swift. Just one month earlier, on February 13, the China Banking and Insurance Regulatory Commission approved and agreed to the preparatory work for Gansu Rural Bank.

Shareholding information indicates that Gansu Rural Bank’s shareholders include several state-owned enterprises in Gansu Province: Gansu Energy Chemical Investment Group Co., Ltd., Gansu Highway Transportation Construction Group Co., Ltd., Jiuquan Iron & Steel (Group) Co., Ltd., Gansu State-owned Assets Investment Group Co., Ltd., Jinchuan Group Co., Ltd., Gansu Financial Holding Group Co., Ltd.; additionally, the Gansu Provincial Financial Society also holds shares in the bank.

After completing registration procedures, Gansu Rural Bank became the first provincial rural commercial bank approved and established in 2026. Industry insiders told Securities Times reporters that the bank’s listing ceremony will also be held within the month.

Industrial and commercial information shows that Wang Wenyong, who just turned 60, will serve as the chairman of the bank. He was previously the Party Secretary and President of the Gansu Provincial Federation of Rural Credit Cooperatives; Yu Wenbao, Han Bao, Li Zhenyu, Chen Jinhui, Luo Jinbo, Liu Ningli, Sun Jianhua, and Dong Ximiao will serve as directors of the bank.

Public information indicates that Wang Wenyong was born in 1966 and has long held positions within the Gansu construction bank system. He previously served as an officer in the Pingliang regional branch office, director of the credit card department at China Construction Bank; deputy director of the supervision office of Gansu branch; Party Secretary and President of Qingyang branch; disciplinary committee secretary and party committee member of Xinjiang branch; assistant to the president, party committee member, and vice president of Gansu branch of China Construction Bank.

In September 2018, Wang Wenyong was transferred to Gansu Bank, where he subsequently served as deputy party secretary, president, and director. In December 2021, he was appointed chairman of the Gansu Rural Credit Cooperative Union, serving until the approval of Gansu Rural Bank’s establishment.

Data shows that Gansu Rural Credit Union includes 37 rural commercial banks, 5 rural cooperative banks, and 41 county-level federations, with over 21,000 employees, nearly 1,904 business outlets, 4,582 convenience financial service points and benefit service terminals. Its branches cover urban and rural communities across the province, serving 1,229 towns, 86% of administrative villages, and 90% of farmers and herders, achieving full coverage of the five-level inclusive financial service system of “province, city, county, township, village.”

It is reported that the construction of Gansu Rural Bank adopts a “unified legal person model.” The joint credit report points out that compared to the “joint bank model,” the reform of the unified legal person model is more thorough. Establishing a unified legal person at the provincial level for rural commercial banks is suitable for provinces with high economic development or small management radius, where there are few legal entities within the jurisdiction, helping to concentrate regional financial resources and form scale advantages.

Proofreading: Yang Shuxin