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The Commonwealth Bank of Australia opened a branch in Xinji, Hebei province, on June 3 - its first branch in a Chinese county - with the aim of offering financial support to farmers and small companies in rural areas.

The Commonwealth Bank is Australia's leading provider of integrated financial services, and is one of the world's 10 top banks by market capitalization. Due to their confidence in rural financing, a major business focus of the bank concerns villages.

This new branch in Xinji is offering regular financing services and easy loans for farmers, and small and self-employed companies in rural areas.

The bank said they intend to use their experience in other countries in the field of loans and management to better serve this new business in China.