Huarui Bank Has Been Approved To Build: Yun Yao Group And Mei Bang Apparel Hold 30% And 15% Respectively.

In September 29th, at the time when China's (Shanghai) free trade pilot area was set up 1st anniversary, Shanghai Jun Yao (Group) Co., Ltd. confirmed that it had officially obtained the approval of the China Banking Regulatory Commission, and was the first private bank sponsor of Shanghai, together with the Metersbonwe apparel Limited by Share Ltd (002269.SZ) of Shanghai.

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11.53+0.625.68% great wisdom 5.98+0.000.00% China Bank 2.68-0.01-0.37% Huarui bank Limited by Share Ltd (hereinafter referred to as "Huarui bank") related preparatory work.

The Huarui bank, which has been approved to be established, will be registered in the free trade pilot area of China (Shanghai). The two main sponsors, Jun Yao group and Mei Bang dress, hold 30% and 15% stake respectively.

After obtaining the approval, the relevant preparatory work of Hua Rui bank will be carried out in an orderly manner under the supervision and guidance of the Shanghai banking regulatory bureau.

According to the contents of the approval, the preparatory work shall be completed within 6 months from the date of approval, and the application for opening shall be submitted to the Shanghai Banking Regulatory Bureau in accordance with the relevant provisions and procedures.

According to the requirements of the regulatory authorities and under the premise of controllable risks, the head of the bank's preparation and construction will give full play to the advantages of the private sector, explore innovative models for financial reform, give full play to the characteristics of the Shanghai free trade area, and form an exclusive financial product and service system covering the "settlement, investment, financing and trading" for the free trade area. It will become a window for a pilot; for small and medium-sized enterprises, it is difficult to raise funds, finance and explore solutions, better serve the real economy; create differentiated smart banks for customers, form a healthy and win-win ecosystem, and provide efficient, intelligent, value-added services and experience.

Wang Junjin, chairman of the Jun Yao group, one of the main sponsors, said that in accordance with the goal of creating a century bank, we should control risks and actively practice, explore the innovation of financial operation mechanism and financial products, stimulate market vitality, and create the market competitiveness of private banks.

According to introducing, as the first pilot private bank, Huarui bank bears historical responsibility.

In the third Plenary Session of the 18th CPC Central Committee, the party put forward the policy of deepening the reform of the financial system and accelerating the development of private financial institutions. According to the relevant policies promulgated by the State Council and the China Banking Regulatory Commission,

The requirements of laws and regulations were initiated in the free trade pilot area of China (Shanghai).

The establishment of the first batch of private banks marks the entry of private capital into the financial system, forming a competitive market environment with multiple property rights coexistence. It is conducive to improving China's multi-level financial system and further improving the efficiency of financial market operation.

This time, the approval of private banks will involve the overall situation of China's financial reform, and bear the historical mission and responsibility.