Naspers’ Chinese Company, Tencent, Is Opening A Private Bank

12 Mar 2014 by Jasmine Stone in Economics, Finance

Related Posts

• The Child Who Once Got Booted From Macao's Most Prestigious Hotel Becomes New Owner Of The Hotel Central
• Thursday Morning Spice
• China's Uncanny Con - Humanoid Robots At Conference Turn Out To Be Humans Dressed As Robots
• China’s Peace Ark Naval Hospital Ship Is Coming To Give Cape Town A Little TLC
• Tuesday Morning Spice

Internet firms Alibaba and Tencent are among 10 other companies shortlisted to set up private banks in China. The president of the China Banking Regulatory Commission (CBRC), announced the scheme is geared toward servicing small and micro businesses.

Naspers acquired a 46.5% stake in Tencent in 2001, which at the time was the operator for the instant messaging platform QQ. Tencent have since expanded, through other business acquisitions, into mass media, entertainment and online advertising.

Financial analysts are in favour of CBRC’s initiative as state-owned banks in China extend most of their lending to state-owned companies, making it difficult for small businesses to obtain financial loans.

 

 

[ Source : BBC , Wikipedia ]

• ← Herschelle Gibbs Spotted His Signature On Oscar Pistorius’ Cricket Bat
• 20 Strangers Kiss For The First Time On Camera [VIDEO] →

• 2oceansvibe Partners

  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  •