Suning enters finance
Updated: 2014-12-19 15:17
(CRI)
|
|||||||||
|
A Suning Commerce Group Co store in Changzhou, Jiangsu province.[Photo/China Daily] |
China's leading home appliance retailer Suning is to set up a consumer finance company.
China's banking regulator has approved the move.
Suning will file an application for the official launch of the company within six months, after preparations are completed.
The new company will focus on personal consumer loans, selling financial bonds, and other consumer finance products.
It will have registered capital of 300 million yuan, or $48 million.
Suning will own 49 percent of the company while the Bank of Nanjing will hold 20 percent, with other shareholders taking the rest.
Most Viewed
Editor's Picks
China's Xi receives highest rating among world leaders |
Beijing wins central approval for new international airport |
Relocated parents face hard lessons |
SCO urged to cut trade barriers |
HK chief calls for respect of law as protests end |
High-end club hidden in Beijing's historic site |
Today's Top News
China, US get things done at trade talks
JD.com adds Gap clothes online
California city fights 'birth tourism'
China OKs modified corn imports
Build, not break, a bridge for people
Chinese city shops for talent in Houston
Cleaner coal goal in deal by Houston firm
China niche for California design firm
US Weekly
Geared to go |
The place to be |