18 August 2019

Shenzhen’s Qianhai to have a new private bank, paper says

Shenzhen is expected to have one of the five private banks that will be launched in China under a trial scheme, Shenzhen Economic Daily reported Wednesday, citing an industry source. The new bank will be set up in the Qianhai special economic zone, the source was quoted as saying. The bank’s founders will include Tencent Holdings (00700.HK) and Baiyeyuan Investment Co. Ltd., the person said, adding that the new entity has been temporarily named “Qianhai savings and loans bank”. 

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