Postal Savings Bank completes restructuring
Updated: 2012-02-27 15:03
By Gao Changxin (chinadaily.com.cn)
|
|||||||||||
BEIJING -- Postal Savings Bank of China Co Ltd (PSBC), a commercial bank serving low-income entrepreneurs, said on Monday it has finished its joint stock restructuring, paving the way for the lender to issue shares publicly.
The bank, dubbed the "Chinese Wells Fargo", is a subsidiary of the state-owned China Post Group Corporation, China's largest postal company.
China Post Group Corporation is currently making forays into the capital market. Another of its subsidiaries, China Postal Express & Logistics Co Ltd, has recently filed for a listing with the China Securities Regulatory Commission and has passed the commission's first round of examination.
Related Stories
Postal service revenue jumps 22% in 2011 2012-02-09 09:49
Promising prospects for postal services as revenue jumps 22% 2012-02-09 07:55
- Poly Real Estate to increase land bank
- China mulls new green production laws
- China may launch rate cuts in Q2: report
- Beijing-Benz: Five-fold surge in production
- The new software that's animating industries
- Worsening garbage crisis set to bring higher fees
- Geely to build cars in Egypt
- Home buyers jump in for fear of missing bottom