Is Guangfa Bank a regular bank?

Yes According to official website's inquiry of Guangfa Bank, Guangfa Bank belongs to Guangfa Bank Co., Ltd. approved by the People's Bank of the State Council and China. It is a pilot bank for financial system reform in China and one of the earliest joint-stock commercial banks in China. According to Aiqi's inquiry, Guangfa Bank Co., Ltd. was established in September, 1988, and registered in Guangdong Provincial Market Supervision Administration. China Life Insurance holds 43.68642%, State Grid Ying Da International Holding Group Co., Ltd. holds 15.64 12%, and China Life Insurance and State Grid Ying Da International Holding Group Co., Ltd. are both state-owned enterprises.