The leadership team of Guizhou Rural Commercial United Bank Co., Ltd. (hereinafter referred to as "Guizhou Rural Commercial United Bank") has been announced, with former Chairman of Guizhou Rural Credit Cooperatives Union Yang Song and former Director Yang Hongjun nominated as Chairman and President, respectively.
On November 24, a notice issued by the Guizhou Provincial Government stated that the provincial government has approved the formation of the board of directors and management team of Guizhou Rural Commercial United Bank, while dissolving the council and management team of Guizhou Rural Credit Cooperatives Union (hereinafter referred to as "Guizhou RCCU"). Yang Song has been nominated as a director and Chairman of Guizhou Rural Commercial United Bank, while Yang Hongjun has been nominated as a director, Vice Chairman, and President. Li Li, Zhang Jinlu, Chen Jie, and Feng Wanhua have been nominated as Vice Presidents. The appointments of Yang Song, Yang Hongjun, Li Li, Zhang Jinlu, Chen Jie, and Feng Wanhua in Guizhou RCCU will be automatically terminated. The notice was dated November 21.
Public records show that Yang Song, born in June 1973, was nominated as a director and Chairman of Guizhou RCCU in April 2024 and officially assumed the roles in July of the same year. Previously, Yang Song had a long career in Guizhou's financial system, serving as Party Secretary and Chairman of Guizhou State-owned Capital Operation Co., Ltd. Since March 2023, he has been Director of the Guizhou Provincial Local Financial Supervision Administration (Guizhou Financial Work Office).
Yang Hongjun was nominated as a director and Vice Chairman of Guizhou RCCU in March 2024, nominated as Director in September, and officially assumed the roles of director, Vice Chairman, and Director in October. Before this, Yang Hongjun worked at Agricultural Bank of China's Guizhou Branch, where he was approved as General Manager of the Business Department in January 2017 and later as Deputy President in January 2018.
Li Li, Zhang Jinlu, Chen Jie, and Feng Wanhua have all served in the Guizhou RCCU system. Li Li and Zhang Jinlu were approved as Deputy Directors in March 2022, Chen Jie in July 2024, and Feng Wanhua in February 2025.
Guizhou Rural Commercial United Bank initiated preparatory work in July this year. On July 29, the bank's preparatory working group announced plans to establish Guizhou Rural Commercial United Bank (provisional name) based on Guizhou RCCU, authorizing the working group to organize and carry out preparatory tasks. Upon establishment, the new bank will take over all business, assets, and liabilities of Guizhou RCCU. The formation and opening of Guizhou Rural Commercial United Bank are pending approval from financial regulators.
According to Guizhou Rural Credit's official website, as of February 2025, the system comprises the provincial union and 84 rural commercial banks (credit unions), with 2,293 branches, 28,000 employees, deposits exceeding 922.9 billion yuan, and loans surpassing 709.5 billion yuan. On February 5, Guizhou's Government Work Report mentioned plans to advance rural credit cooperative reforms and establish Guizhou Rural Commercial United Bank.