Chongqing Rural Commercial Bank Co., Ltd., formerly known as Chongqing Rural Credit Cooperative, was founded in 195 1 and has a history of 60 years. On June 29th, 2008, Chongqing Rural Commercial Bank was formally established, becoming the third provincial rural commercial bank in China and the first in the central and western regions after Shanghai and Beijing.
Extended data:
Article 11 of the Law of People's Republic of China (PRC) City on Commercial Banks, the establishment of a commercial bank must be examined and approved by the the State Council Banking Regulatory Authority. Without the approval of the the State Council Banking Regulatory Authority, no unit or individual may engage in commercial banking business such as absorbing public deposits, and no unit may use the word "bank" in its name.
Article 12 To establish a commercial bank, the following conditions shall be met:
(1) Having articles of association that conform to this Law and the Company Law of People's Republic of China (PRC);
(2) It has a registered capital meeting the minimum amount stipulated in this Law;
(3) Having directors and senior managers with professional knowledge and business experience;
(4) Having a sound organizational structure and management system;
(5) Having a business place, safety precautions and other business-related facilities that meet the requirements.
The establishment of commercial banks should also meet other prudential conditions.
Baidu Encyclopedia-Chongqing Rural Commercial Bank