Thirty years ago today, on May 23, 1995 (April 24, 1995, the lunar calendar), China Minsheng Bank began its preparations. Jing Shuping, chairman of the All-China Federation of Industry and Commerce and leader of the preparatory leading group for Minsheng Bank, revealed to the press today that China Minsheng Bank, which was established under the leadership of the All-China Federation of Industry and Commerce, has recently been approved by the State Council and the People's Bank of China and has begun formal construction. This bank is a national joint-stock commercial bank in the form of a joint-stock company, and its shareholders are all industrial and commercial consortium companies; It is an independent legal person with independent accounting, autonomous operation, sole responsibility for profits and losses, own risks and self-restraint, and is subject to the supervision and management of the People's Bank of China. The registered capital of the bank is RMB 3 billion. The head office is located in Beijing, and branches can be gradually established according to business development needs; banking operations will be carried out in accordance with the provisions of the Commercial Banking Law. At present, various preparatory work for China Minsheng Bank is progressing smoothly and is expected to be officially listed for business within the year. Jing Shuping introduced that the All-China Federation of Industry and Commerce established this bank mainly to alleviate the contradiction of lack of financial support for private enterprises, better serve private enterprises, and guide the healthy development of the non-public economy. Chairman Jing Shuping