No.211

A Delegation Led by Jin Xingming Inspected the Preparation Work of Huarui Bank
ReleaseDate: 2014-11-19

On the morning of October 11, an 8-person delegation led by Jin Xingming, Deputy Secretary-general of Shanghai Municipal Government, Xie Dong, Deputy Director of the Municipal Finance Office, Wang Jing, Deputy Director of the Free Trade Zone Management Committee, and Jin Aihua, Deputy Inspector of the Shanghai Bureau of the China Securities Regulatory Commission, paid an inspection visit to the Huarui Bank Preparation Team. Wang Junjin, Chairman of JuneYao Group and Team Leader of the Bank Preparation Team, along with others attended the meeting.

The delegation of Deputy Secretary-general Jin Xingming listened to the preparation work report of Huarui Bank, and fully acknowledged the early-stage preparation work. Deputy Secretary-general Jin said the fact Huarui Bank obtained approval for preparation as the first private bank in Shanghai marked an important measure of the Banking Regulatory Commission in implementing the spirit of the 3rd Plenary Session of 18th CPC Central Committee, it signified support to Shanghai and to the Free Trade Zone, and acknowledgement of the Bank’s majority shareholder JuneYao Group, it further implied acknowledgement of early-stage preparation plan, therefore, Huarui Bank must treasure the opportunity, and actively push forward the progress of all work tasks.

Deputy Secretary-general Jin put forward five requirements for the preparation work: Firstly, fully take advantage of private mechanism, fulfill high efficiency operation; secondly, fully utilize the excellent business environment in Shanghai, speed up development; thirdly, it is necessary to fully cater to customer needs, properly ensure inclusive finance; fourthly, it is necessary to fully utilize the Internet, provide smart service; fifthly, it is necessary to pay attention to risk control, ensure top-down design of regulation and system. Deputy Secretary-general Jin also indicated that, relevant government departments would give full support and service to Huarui Bank, relevant departments will appoint designated personnel to offer corresponding support, in order to jointly help Huarui Bank “Help mount the horse”, and make a good start.

Relevant officials from Shanghai Municipal Office of Finance, Free Trade Zone Management Committee, and Shanghai Securities Regulatory Bureau also said they would strengthen communication and guidance in the process, go all out to provide guidance and service to Huarui Bank.