CRSC former head proposes support to Internet Banking

Xiao Gang, a member of the National Committee of the Chinese People’s Political Consultative Conference and the former chairman of the China Securities Regulatory Commission, suggested that Internet banking support greater efforts to serve small and micro enterprises and individual businesses.

Xiao Gang, a member of the National Committee of the Chinese People’s Political Consultative Conference and the former chairman of the China Securities Regulatory Commission, suggested that Internet banking should have better support to serve small and micro enterprises and individual businesses.

The forms of support include the promotion of government-enterprise data integration and the relaxation of restrictions on the shareholding ratio of single shareholders.

He also suggested that the restrictions on the proportion of single shareholder equity and shareholder attributes should be relaxed. Equivalent treatment of foreign investment shall be given to qualified Internet bank shareholders.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/24/crsc-former-head-proposes-support-to-internet-banking/.

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