Chinese authorities willing to develop corporate finance in China
The Chinese public authorities chose small about ten investors to finance the creation of five private banks. It is all about corporate finance. They will have to concentrate their range of financial services on the girls and microbegun. Among them: Alibaba, number one of the e-commerce in China, groups Tencent, known for its social networks and instant messaging services, the Fosun conglomerate (shareholder of the Club Med), the automobile equipment manufacturer Wangxiang and six other private enterprises. The calendar of their launch is not known, to improve the corporate finance. These banks will operate in an independent way.
Relaunch the productive investment to insure a sustainable growth of corporate finance. It is the stake which China tries to face. For that purpose, the Chinese Authority of banking regulation announced on Tuesday that it was going to test the possibility for private companies to create their own banking institution.
An announcement which echoes that of November, when Beijing promised to open to the deprived investors a banking sector still closely checked by the State.
A timetable for corporate finance in China
No timetable was supplied, but the regulator took care of specifying that it would be made "in a careful way". «The green light" will be given to each of her only when everything will be ready for the corporate finance. So that the process is validated by the authorities, the investors with private capital will have to be at least two, and the new banks will operate "in an independent way", promises the Authority of regulation.
For the moment, nine private enterprises were chosen by Beijing as this phase of test of corporate finance. Among them, we count Alibaba, the number one of the e-commerce in China, groups Tecent, known for its social networks and instant messaging services, the Fosun conglomerate and the automobile equipment manufacturer Wangxiang.The mission of these future five banks is clear: finance the girls and micro-begun who have difficulty in reaching the credit in the current system. This phase of test participates this way in the restructuring of the Chinese economy wanted by Beijing.