24 April 2019

Wenzhou seeks nod for private banks, paper says

Wenzhou has submitted a proposal to the State Council to allow privately funded banks to operate in the city, China Securities Journal reported Thursday, citing Zhejiang deputy governor Zhu Congjiu {朱從玖}. Also, Wenzhou is considering wider financial reform including allowing small and medium-sized enterprises to sell preferred stocks, convertible bonds, private funds and venture capital funds, the report said.

– Contact HKEJ at [email protected]



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