Weekly Bank Overview (3.7—3.13)

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◆ Regulatory Voices

People’s Bank of China: Actively, prudently, and in an orderly manner advance the application of artificial intelligence in the financial sector

On March 11, the People’s Bank of China held the 2026 National Technology Work Conference, summarizing achievements in 2025 digital central bank development, cybersecurity, and other work. The meeting required that in 2026, we should closely follow the main line of preventing risks and strengthening regulation, make overall plans for the “15th Five-Year” technology work, advance the implementation of key projects, improve the cybersecurity system, prudently advance the application of artificial intelligence in the financial sector, and enhance the capacity of standards and services to provide support.

** ◆◆ Industry Watch**

Six Jiangsu rural commercial banks issue announcements at the same time: to establish the Xuzhou rural commercial bank through merger and setup

Recently, in the Xuzhou area of Jiangsu Province, six rural commercial banks, including Xuzhou Rural Commercial Bank, Xinyi Rural Commercial Bank, Fengxian Rural Commercial Bank, Suining Rural Commercial Bank, Pizhou Rural Commercial Bank, and Peixian Rural Commercial Bank, have all released notices of temporary shareholders’ meetings. The temporary shareholders’ meeting was held on February 28 afternoon. The agenda shows that it reviewed multiple proposals, including “A proposal on establishing and merging to form Jiangsu Xuzhou Rural Commercial Bank Co., Ltd. and canceling the qualifications of the original legal entities.” This means that the six rural commercial banks mentioned above are about to establish a new Xuzhou Rural Commercial Bank through a setup-and-merger arrangement and cancel the qualifications of the original legal entities.

** Maximum cut of over 30 basis points: Medium and small bank deposit rates spark another round of rate reductions**

After the Spring Festival, as the wave of “opening-for-the-year success” gradually fades, bank deposit rates have once again entered a wave of rate cuts, with the adjustment entities still mainly being local medium and small banks. A review found that in this round, the deposit rate reduction is mostly within a range of 5 BP (basis points) to 30 BP. For products with medium- and long-term tenors, the reduction is even larger. Interviewees believe that this round of adjustments is still a supplementary adjustment by medium and small banks in response to the nationwide commercial bank deposit rate cuts made earlier. Given that medium and small banks have more room to increase rates in actual implementation, and that deposit-gathering behavior still needs to be regulated, their cost of liabilities remains higher than that of state-owned big banks, and there is still room for further reductions in the future.

** Another bank stock at the one-hundred-million-yuan scale is about to be auctioned; previously, multiple transactions had “0成交”**

Recently, after multiple rounds of auctions with discounted prices, several large bank equity holdings still attracted no buyers. From the Alibaba judicial auction platform, it can be seen that in the recent period, many pieces of equity worth over one hundred million yuan, such as Jiujiang Bank and Guangdong Huaxing Bank, have been listed again, and due to repeated auction failures, they eventually entered the property sale (disposal) procedure. Also, according to the JD Asset Transactions platform, recently there has been “new listings” of multiple bank equity auctions worth over one hundred million yuan. Among them, approximately 223 million shares of the Guangfa Bank held by Jiangsu Sugang Group will be auctioned in early April, with a starting price of 7.84 billion yuan—also the highest single amount of bank equity auction listings this year.

** ◆◆ Financial Personnel Appointments**

Chengdu Bank: Huang Jianjun approved to serve as a company director and chairman

On March 11, Chengdu Bank announced that it recently received approvals from the Sichuan Financial Regulatory Bureau, confirming Mr. Huang Jianjun’s appointment qualifications as company director and chairman. Huang Jianjun will also concurrently serve as the party committee secretary of the company, director and chairman of the board’s strategic development committee, and a member of that committee, as well as director and chairman of the board’s credit approval special authorization committee and a member of that committee. His resume is detailed in the company’s relevant announcement dated September 23, 2025.

** Chengdu Rural Commercial Bank: Approval granted for Wang Hui’s appointment qualifications as chairman**

On March 12, the Sichuan Financial Regulatory Bureau issued a reply titled “Reply on the Approval of Wang Hui’s Appointment Qualifications as Director and Chairman of Chengdu Rural Commercial Bank Co., Ltd.”, approving Wang Hui’s appointment qualifications as director and chairman of Chengdu Rural Commercial Bank Co., Ltd.

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(Editor: Wang Xinyu)

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