The predecessor of the bank can be traced back to the Agricultural Cooperative Bank established by 195 1 Since the late 1970s, banks have experienced different stages of development, such as national specialized banks, wholly state-owned commercial banks and state-controlled commercial banks. On June+10, 2009, the Bank was restructured into a company limited by shares. On July 20 10, the Bank was listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange respectively.