Launch of Tianjin's Bohai bank
7 September 2005
Bohai bank has been launched in Tianjin, the first stockholding commercial bank created on the mainland in nine years, reported the Wall Street Journal. It is the first time a foreign investor has been a founding member in a Chinese bank UK-based Standard Chartered plc has a 19.99% stake, making it the second largest of the bank's seven initial shareholders after Tianjin TEDA Investment Holding Co, which has a 25% stake. Bohai has a registered capital of US$618 million.
