Private Banks in Sight.docVIP

Private Banks in Sight 　　After years of heated controversies and dashed expectations， the China Banking Regulatory Commission （CBRC） finally unveiled its pilot private bank scheme on March 11， which selects 10 privately owned companies， including Internet giant Alibaba and Tencent， to participate in the preparations for setting up five private banks. 　　The private banks need to comply with the provision that the equity ratio of a single share- holder should be no more than 20 percent， and be co-sponsored by at least two private capital providers， said Shang Fulin， CBRC Chairman. 　　“The pilot