CBRC vice chairman to head Everbright Bank
22 June 2007
Tang Shuangning, vice chairman of the China Banking Regulatory Commission (CBRC) is likely to be appointed as new head of China Everbright Group, China Business Net (in Chinese) reported. China Everbright Bank is restructuring and waiting for a capital injection. The bank's core capital adequacy ratio is much lower than the required level, said Wang Mingquan, chairman of the China Everbright Group. The bank started financial restructuring last year and will receive US$2.6 billion in funding from Central Huijin Asset Management Company, under a deal that has been approved by the State Council.