August 8, 2022. Qingdao Rural Commercial Bank is a joint-stock commercial bank initiated and established by newly-established merger on the basis of the former Qingdao Huafeng Rural Cooperative Bank, Qingdao Chengyang Rural Cooperative Bank, Qingdao Huangdao Rural Cooperative Bank, Qingdao Jimo Rural Cooperative Bank, Qingdao Laixi Rural Cooperative Bank and Jiaozhou, Jiaonan, Pingdu and Qingdao Rural Credit Cooperatives. The bank announced on August 8, 2022 that after Wang Xifeng resigned as the president of hengfeng bank, he succeeded Liu Zhongsheng as the president of Qingdao Rural Commercial Bank.