Is BOC Fu Deng a regular bank?

China Bank Fu Deng Branch is a formal bank legally registered and operated in China. Bank of China Fu Deng Branch is jointly established by Bank of China and Fu Deng Financial Holding Company under Temasek, focusing on serving the rural and small town markets in China. As a village bank approved by China Banking Regulatory Commission, Bank of China Fu Deng Village Bank enjoys the same legal status and rights as its commercial banks, and is fully protected by China laws. China Bank and Fu Deng Rural Bank are the first investment management rural banks in China. Its business scope includes investing in the establishment and acquisition of village banks, and providing middle and back-office services such as agency payment and settlement, policy consultation, information technology, product research and development, operation support and training for village banks.