New bank Hopes tech spurs market services
Print Edition
A newly founded private bank hopes to use mobile Internet technology and adopt market-oriented practices to offer consumers banking services, investors in the lender said yesterday.
The New Hope Bank, with a registered capital of 3 billion yuan (US$455 million), has received regulatory approval to be the first private bank to set up in Sichuan Province. Its investors include New Hope with 30 percent stake and Xiaomi with 29.5 percent while Shenzhen-listed Chengdu Hongqi Chain Co and five Sichuan-based firms holding the remaining shares.
Xiaomi, whose smartphone sales in 2015 were less than expected, has diversified into the home appliance, finance and sport sectors and soon in August, virtual devices.
Chengdu Hongqi rose by the 10 percent daily cap to 6.08 yuan while Shenzhen’s benchmark index fell 4.4 percent yesterday.
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