"Over a hundred village and town banks 'disappear', the resolution of risks in small and medium-sized banks accelerates."

On June 10th, the reply from the China Banking Regulatory Commission showed that three Xingfu series rural commercial banks in Luoping, Shizong, and Luliang in Yunnan were dissolved due to being absorbed and merged by Qujing Zhanyi Xingfu Rural Commercial Bank. On the same day, two rural commercial banks in Zhejiang were also approved for dissolution. So far this year, over one hundred rural commercial banks have been approved to withdraw from the market. Industry insiders believe that reducing quantity is just superficial, the real core is to improve quality. Since the beginning of this year, local small and medium financial institutions have been reforming and reducing risks in an orderly manner, in accordance with market-oriented and legal principles, using various methods such as mergers and acquisitions, market exits, to prudently dispose of risks in small and medium-sized banks.