Jun 18, 2022 06:24 AM
FINANCE
Minsheng Bank Wins Final Clearance for New Wealth Management Unit
t took nearly a year and a half for Minsheng to win the green light after it was approved in December 2020
China Minsheng Bank Thursday secured a long-awaited license to kick off business by its wholly owned wealth management unit, taking a step toward catching up with its major rivals.
The Beijing-based unit, Minsheng Wealth Management Co. Ltd., has a registered capital of 5 billion yuan ($746 million) with businesses ranging from public and private wealth management product issuance to wealth advisory and consulting, according to the bank.
You've accessed an article available only to subscribers
Subscribe today for just $.99.
VIEW OPTIONS
- RELATED
Ling Huawei: How Minsheng Bank Can Turn Around Its Business
Exclusive: Chinese Regulators Tell City Commercial Banks to Cap WMPs
Share this article
Open WeChat and scan the QR code
- GALLERY
-
- Gallery: China Wraps Up Golden Week
- PODCAST
Caixin Deep Dive: China’s Fiscal and Monetary Stimulus Combo
00:00/00:00
- MOST POPULAR
- 2
- Finance Movers and Shakers: Sovereign Fund Unit’s New President, Ex-Central Bank Deputy’s Death Sentence
- 3
- Caixin Explains: The Power Grid’s Solar and Wind Problem
- 4
- Singapore’s Food and Beverage Industry Buckles Under Influx of Chinese Brands
- 5
- China Launches Tools to Boost Volatile Stock Market
Sign in with Google
Sign in with Facebook
Sign in with 财新