[2]: 13 The Farmers Bank was founded on 1 April 1933 in Hankou (modern day Wuhan) from the amalgamation of provincial agricultural banks in Henan, Hubei, Anhui and Jiangxi.

Governed by the Farmers Bank of China Law, the bank was established to stimulate agricultural development by providing lines of credit to farmers and rural landowners.

[2]: 13 The bank was relocated to Chongqing in 1937, along with Kuomintang-led Nationalist Government during Second Sino-Japanese War and relocated to the former Japanese colony of Taiwan in 1949 because of the Chinese Civil War.

The Farmers Bank of China was partially privatized in 1994, and all government shares were put on the market in 1999.

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