Jinling Bank Gained Pre-Approval From The State Administration

The name of "Jinling Bank Co., Ltd.", co-sponsored by Sanpower Group and Yurun gained pre-approval from the State Administration for Industry and Commerce, marking private capital takes a step forward to enter the banking.

This July 5, the State Council issued the guidance on financial supports to economic structure adjustment and transformation and upgrade to propose "expand the entry of private capital into the financial industry". Encourage private capital to take a stake in financial institutions and participate in restructuring of financial institutions and try to entitle private capital to sponsor the establishment of risk-bearing private banks, financial leasing firms, consumption financial firms and other financial institutions.