Rural commercial banks step up listing plans
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China's banking regulator said in 2010 that it encouraged and supported qualified rural financial institutions to conduct IPOs. |
Four Chinese rural commercial banks have won approval of the country's banking regulator for their initial public offering (IPO) plans, the National Business Daily reported.
The four banks are the rural commercial banks of Zhangjiagang, Wujiang, Changshu and Jiangyin, all of which are in east China's Jiangsu Province.
In 2010, China's Banking Regulatory Commission said it encouraged and supported qualified rural financial institutions to pursue being listed.
According to the newspaper, Guangzhou Rural Commercial Bank will announce its listing plan in the first quarter. Shunde Rural Commercial Bank in Guangdong's Foshan city is expected to be listed in three years.
China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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