Is Hengfeng Village Bank a city commercial bank?

Both rural banks and city commercial banks belong to separate types of commercial banks, but rural banks have their own requirements in terms of establishment conditions, capital requirements and management.

Village bank refers to a banking financial institution established in rural areas with the approval of China Banking Regulatory Commission in accordance with relevant laws and regulations and funded by domestic and foreign financial institutions, domestic non-financial institutions, corporate legal persons and domestic natural persons, mainly providing financial services for local farmers, agriculture and rural economic development. Village banks are different from the branches of banks and belong to the first-class legal person institutions.

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