Pboc Gets Holding Firm Applications From State: owned CITIC, Everbright

China Everbright

04/06/2021 12:02

BEIJING, June 4 (Reuters) - China's central bank said on
Friday that it has received applications from CITIC Group
 CITIC.UL  and China Everbright Group to set up financial
holdings firms.
    The People's Bank of China (PBOC) officially issued rules
last year to regulate the country's vast and often complex
financial holding companies, as part of its efforts to rein in
systemic financial risks.  urn:newsml:reuters.com:*:nL4N2GB1A6
    Its vice governor Pan Gongsheng said in September that CITIC
Group, China Everbright Group and China Merchants Group were
among companies that should be included in the supervision
framework as financial holding firms.
    Pan also named local government-backed Shanghai
International Group, Beijing Financial Holdings Group, and Ant
Financial as eligible financial holding entities.

 (Reporting by Zhang Yan, Cheng Leng and Ryan Woo; Editing by
Hugh Lawson)
 ((Zoey.Zhang@thomsonreuters.com;))