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Three new commercial banks will be created in China

The Chinese authorities approved the application for the creation of three commercial banks with the participation of private capital. This was announced by the Chinese Committee for the Control and Management of the Banking Industry.

Among the established credit and financial institutions: Bank Qianhai Weichzhong, which will be opened in the city of Shenzhen, in the southern Chinese province of Guangdong. The bank was founded by the Chinese Internet giant Tencent, Shenzhen Investment Company "Bayyuan" and the corporation "Lie". The headquarters of the second bank - "Minshan", will be located in the city of Wenzhou, on the territory of the eastern Chinese province of Zhejiang. The initiative to create this bank belongs to the Chint and Huafon corporations. The third bank - "Jincheng", which will be located in the city of Tianjin in the north of China, is created by the corporations "Huabei" and "Maigou".

In January-June, 2014 in China issued 5,74 trillion yuan ($ 940 billion) of new loans in national currency. This is 659 billion yuan more than a year earlier. Of the total amount of new loans in the first half of this year, the population of China received trillion yuan 1,88. Another 3,86 trillion yuan was issued to non-financial enterprises and other entities.

Experts also draw attention to the fact that the volume of yuan deposits by the end of the sixth month of 2014 amounted to 113,61 trillion yuan. It grew by 12,6% in annual terms. In the first half of this year, bank deposits in the national currency of China reached a total of 135,4 billion yuan, an increase of 9,23 trillion yuan.

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