No.214

Shanghai Huarui Bank was approved to open
ReleaseDate: 2015-07-22

On January 28, Shanghai JuneYao (Group) Co., Ltd (“JuneYao Group”) confirmed it has formally received reply from the Shanghai Banking Regulatory Bureau on the opening of Shanghai Huarui Bank Co., Ltd (“Shanghai Huarui Bank”). This marked the second first-batch private bank approved for opening following the opening approval of Shenzhen Qianhai Micro Focus Bank. With JuneYao Group and Shanghai Metersbonwe Fashion Co., Ltd as the main sponsors, Shanghai Huarui Bank was invested and founded by a number of private enterprises with excellent industry background, outstanding main businesses, healthy operation performance and continual investment ability, reliable social credibility, and identical values. JuneYao Group holds 30% stake, Metersbonwe Fashion holds 15% stake, other shareholders include private enterprises in Shanghai such as Shanghai Kaiquan Pump (Group) Co., Ltd, Jiangxi Merchant Joint Stock Co., Ltd, Shanghai Chengyu Industry Co., Ltd, Shanghai Jianqiao (Group) Co., Ltd, which respectively hold stakes below 10%.

 

According to the approval contents, Shanghai Huarui Bank has a registered capital of RMB 3 billion yuan, the approved organization address is: Room D2, 1F&2F, No. 6, Jilong Road, China (Shanghai) Pilot Free Trade Zone. The business scope includes absorbing public deposit; issuing short-term, mid-term and long term loans; handling settlement and bill businesses. According to the reply, the first batch of directors and senior executives of Shanghai Huarui Bank have also been granted qualification for post.

 

Relevant chief persons of the Shanghai Banking Regulatory Bureau said, Shanghai Huarui Bank is a private bank founded inside the Shanghai Free Trade Zone, it should consider focusing on serving small and micro businesses in the Pilot Zone and the general public as its bounden duty, and make contributions to exploring operation and management model of private banks.

 

According to Wang Junjin, Team Leader of the Shanghai Huarui Bank Preparation Team, and Chairman of JuneYao Group, the opening work of Shanghai Huarui Bank would make progress in an orderly manner under supervision and guidance of the supervisory departments, after finishing relevant formalities, it would try to start trial operation before the Spring Festival, based on results of the trial operation, it would formally start business operation after a certain period of time.

 

Wang Junjin said the operation-start approval of Shanghai Huarui Bank fulfilled JuneYao Group’s finance dream, which benefited from the “China Dream”, and would not become a reality without the care, support, and help from the CPC Shanghai Municipal Committee, Shanghai Municipal Government and relevant departments in the entire application process.

 

We will adhere to the concepts of emphasizing both justice and profit, with priority placed on justice, just like JuneYao Group’s mission, create value for the society, fully bring out the advantages of private enterprises in mechanism, targeting at the features and needs of small and micro enterprises, actively explore new technologies, new models and bring out the innovation advantages of the Free Trade Zone, seek solutions to difficult financing, expensive financing, and slow financing, better serve small and micro enterprises and the general public, strive to create a century bank with sustainable development.