CCTV News: On May 7, the State Administration for Financial Supervision approved the establishment of Xingyin Financial Assets Investment Co., Ltd. (the name is tentative). According to the approval, Xingye Bank should complete the preparation work within 6 months from the date of approval, and shall not engage in financial business activities during the preparation period. After the preparations are completed, an application for opening to the State Administration for Financial Supervision and Administration shall be submitted to the State Administration for Financial Supervision and Administration in accordance with relevant regulations and procedures.
