No.213

Shanghai Executive Vice Mayor Tu Guangshao investigated the preparation work of Huarui Bank
ReleaseDate: 2015-01-16

In the afternoon of December 25, a delegation led by Tu Guangshao, member of the Standing Committee of CPC Shanghai Municipal Committee and Executive Vice Mayor of Shanghai, Zhang Yang, Director of the Municipal Office of Financial Services, Yan Xu, Deputy Director of the Free Trade Zone Management Committee, Xie Dong, Deputy Director of the Municipal Office of Financial Services, Jin Aihua, Deputy Inspector of Shanghai Securities Regulatory Bureau, participated in the investigation. Team Leader of the Preparation Team Wang Junjin and other executives reported bank preparation info.

After listening to report on the preparation work of Huarui Bank, Tu Guangshao delivered an important speech: The CPC Municipal Committee and the municipal government are very concerned with the preparation work of Huarui Bank, and are satisfied with the current preparation progress. He also requested the Preparation Team to continue to handle relevant work, develop private banks’ own features, and live up to the responsibility and mission of the age. Deputy Mayor Tu then shared three points of views: Firstly, fully understand Huarui Bank’s development in operation such as business mode and corporate governance. He hoped Huarui Bank to walk out of the traditional financial mode adapting only to old times, and to pioneer innovative thinking approaches in concept, management and business. Secondly, he fully acknowledged the existing senior executive team of Huarui Bank’s Preparation Team. As a new bank, Huarui must be adept at taking advantage of the situation, power, and brains, so as to overtake rivals by standing on the shoulders of others. Thirdly, he encouraged Huarui Bank to make persistent efforts to lay down solid foundation by making best use of the time of the preparation stage. Good foundation and support in concept and culture, are very important to the bank’s development. Vice Mayor Tu continued to say that, all the people will support the preparation work of Huarui Bank, because on the one hand, as a newly emerged phenomenon, private bank matches the status of Shanghai as a city walking at the forefront of Reform and Opening up; on the other hand, Shanghai also needs private banks to inject new vitality into the construction of international financial center. As a result, the municipal government will create conditions for developing Huarui Bank, and provide good service to create environment for .Huarui Bank.

Relevant officials of Shanghai Municipal Office of Financial Services, Free Trade Zone Management Committee and Securities Regulatory Bureau also highly praised Huarui Bank’s preparation work and the proposed senior executive team. They also indicated to continue to strengthen communication and guidance in the preparation process, and provide platform and support for Huarui Bank’s differentiated operation.