On April 27, 2015, KinCheng Bank of Tianjin Co., Ltd. (“KCB”), the four privately-owned bank approved by China’s banking regulator, was open for business, following WeBank, Shanghai Huarui Bank Co., and Wenzhou Civil and Commercial Bank. KCB was jointly set up by sixteen private businesses, including Tianjin Huabei Group and Maigou (Tianjin) Group Co., Ltd..
A team led by senior partner Li Aiwen and of council Wang Lihong advised on the formation of the bank, with assistance from attorneys He Yuhua, Li Yang, Gao Yinxia, Sun Chao and paralegals Lv Xiaxi, Zheng Wenjing and Tong Jiali.
KCB is located inside the central business district of Binhai New Area, Tianjin. It is the only independent bank registered and set up in Tianjin FTZ. The successful launch of KCB shows that the trial run of privately-owned banks is proceeding smoothly and a new era where private capital is entering the banking sector and propelling reform in the sector is coming.
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