The integration process of rural banks in villages and towns is significantly accelerating.

Since the second half of the year, the reform, risk reduction, and integration process of village banks has accelerated significantly. On one hand, the number of financial permits being cancelled has increased substantially; on the other hand, many banks have disclosed merger proposals intensively, clearly showing that the industry is transitioning from "dispersed operations" to "intensive development". With the recent frequent convening of bank shareholder meetings, many banks have successively disclosed merger proposals related to absorbing and merging village banks, accelerating the integration process. Data from the China Banking Regulatory Commission shows that since the second half of the year, as of August 14, 21 village banks have completed the cancellation of financial permits, far exceeding the number from the same period last year. Gao Zhengyang, a special researcher at SuShang Bank, said in an interview with reporters that the acceleration of integration reflects the urgent need of financial institutions for risk control, and also indicates that the rural financial system is transitioning from "broad coverage" to "precise services", improving the efficiency of serving the real economy through scale operation.