Shanghai: As China has loosened the regulations on private banking sector and relevant policies are about to be introduced, many private companies are planning to enter the sector.
According to Jiangsu Provincial Government, it has received applications from six local private companies including Shagang Group and Yangzijiang Shipbuilding to set up their own banks.
Yangzijiang Shipbuilding reported a net profit of RMB1.52bn in the first half of this year. [25/09/13]
