Home > Index > Latest News
From: Xinhua 2011-07-25 07:22:00
Text size
China approves establishment of Tibetan regional bank

China's top banking regulator announced Sunday that it has given the nod to the establishment of a regional bank in the Tibet Autonomous Region, with initial capital adding up to 1.5 billion yuan (233 million U.S. dollars).

The bank will be registered in Lhasa, the region's capital, and funded by 15 institutions, including the regional government, domestic banking institutions and several leading enterprises, the China Banking Regulatory Commission (CBRC) said in a statement posted on its website.

The bank will be the first regional corporate bank in the region and also the first equity commercial lender to operate in the autonomous region since its establishment, the CBRC said.

The Bank of Communications, China's fifth-largest lender, will be a strategic investor for the bank, the CBRC said.

The establishment of the bank will strengthen financial services in Tibet and help promote its regional economy, the CBRC said. It will also provide financial support for the development of local small- and medium-size enterprises, as well as for projects that will improve the livelihood of local residents, it said.

The CBRC did not give a detailed timetable for the bank's establishment.

There are currently just five commercial banks with subsidiaries in Tibet, most of which are located in the region's larger cities.


[editor : ]
Related Stories
· Education foundation donates 1 mln yuan to Tibet University
· Mirror-like Qinghai Lake attracts thousands of tourists
· Caricatures: Qinghai-Tibet Railway
  Most Popular
  • Asia's holiest mountain to see highest charity race ...
  • Tibetan Buddhism among Mosuo people
  • Railway to Tibet stands safety, environment tests
  • Nearly 20,000 Tibetan antelopes return to Hoh Xil
  • Former Tibetan serfs become millionaires
  • New Beijing-Tibet expressway project approved
  • Tibet builds national parks to woo international sig...
  • Tibet's import-export value in 2010 hits decade high
  •   CAPDTC News
  • CAPDTC hosts New Year reception
  • 11th Panchen Erdeni Qoigyi Gyibo donates and prays f...
  • Top Chinese political advisor meets attendees at CPA...
  • Top political advisor stresses protection of Tibetan...
  • Overseas Chinese urged to introduce Tibet in foreign...
  • CAPDTC: Newly-elected directors vow to protect Tibet...
  • Representatives at 2nd Conference of CAPDTC
  • New leadership elected in CAPDTC Executive Council
  •   Latest News
  • Lama Ling Temple is my home: the oldest monk
  • Wonderful night scenes at the Potala Palace Square
  • World Cultural Heritage: the Potala Palace and Jokha...
  • Nepali businessman's new life in Lhasa
  • Secret territory: Drak Yerpa Monastery
  • Chen Kun writes lyrics for philanthropy
  • Tibet launches finance professional training plan
  • 'Smiling Nyingchi'
  •   Lesson Six: Family
      Hello, Everyone! Welcome to Learning Tibetan. In this lesson, we will learn some new words and sentences about family.
    About Us
    Contact Us
    Site Map
    Legal Warning
    Copyright © China Association for Preservation and Development of Tibetan Culture ( CAPDTC )