China Approves Exit of 134 Rural Banks in 2026, Total Falls to 1,048

China has approved the market exit of 134 rural banks so far in 2026, reducing the total number of such institutions to 1,048 as of July 9, extending an accelerated consolidation and cleanup trend seen since 2025, according to Jiemian News. Industry participants cited in the report said the restructuring is reshaping county-level financial ecosystems and that streamlining the number of rural banks could improve the efficiency and quality of financial services in county areas.