The Baoshang Bank, which was founded by Xiao Jianhua and held in the future, was taken over by the People’s Bank of China and the China Banking Regulatory Commission on Friday. It became the first commercial bank to be taken over by the China Banking Regulatory Commission since its establishment in 2003. Some mainland media pointed out that the amount owed by Baoyin reached 69.3 billion yuan (RMB ‧ the same).

According to the statistics of China Bond Information Network, the total amount of bonds issued by Baoyin but not yet matured is 11.5 billion yuan, respectively, 6.5 billion yuan of capital debt, and 5 billion yuan of small and micro enterprise loan special debt, the latter It will expire on June 20 this year.

According to the latest report of the China Merchants Securities Collection Team, the packaged debts of the company include RMB 57.8 billion in interbank deposit certificates.

People’s Bank issued an announcement on Friday, stating that Baoyin has serious credit risk. The PBOC and the Banking Regulatory Commission jointly took over the contract with the relevant parties in accordance with the law. The term of the contract is one year and is managed by the Construction Bank (0939).

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