CBRC agreed to build Zhejiang net Commercial Bank in Hangzhou, Zhejiang province

Absrtact: September 29, the CBRC recently approved, agreed to small micro-gold in Hangzhou, Zhejiang province to build the bank of Zhejiang network. According to the CBRC's reply, Zhejiang Ant Micro Financial Services Group Co., Ltd. (ALI), Shanghai Fosun Industrial Technology Development Co., Ltd.

September 29, the CBRC recently approved, agreed to small micro-gold in Hangzhou, Zhejiang province to build the bank of Zhejiang network.

According to the reply of the CBRC, Zhejiang ant small Micro Financial Services Group Co., Ltd. (ALI), Shanghai Fosun Industrial Technology Development Co., Ltd., Ningbo Co., Ltd. is the founder of Zhejiang Net Business Bank, which is subscribed to 30%, 25%, 18% and 16% shares of the total share capital respectively.

The following is the reply text:

China Banking Regulatory Commission

Official reply of Zhejiang Net Business Bank Co., Ltd.

CBRC (2014)663 No.

Preparatory Working Group of Zhejiang Net Commercial Bank Co., Ltd.

"About the initiation of the establishment of Zhejiang Network Business Bank Co., Ltd." (Ant Gold Clothing (2014)5) received. After the examination, the reply is as follows:

I agree to build Zhejiang net merchant bank in Hangzhou, Zhejiang province.

Second, to agree to Zhejiang Ant Small Micro Financial services Group Limited to subscribe to the bank's total share capital of 30% of the sponsors; agreed to the sponsorship of the 25% shares of the bank's total share capital by Shanghai Fosun Industrial Technology Development Co., LTD Agreed to Ningbo Asset Management Limited for the sponsorship of 16% per cent of the bank's total equity. The shareholder qualification of other enterprises which subscribe for shares under 10% of the total equity shall be audited by Zhejiang Banking Regulatory Bureau in accordance with relevant laws and regulations.

Third, the preparation of the work of the Zhejiang Banking Regulatory Bureau supervision and guidance. No financial business activities shall be carried out during the preparation period.

The preparation work shall be completed within 6 months from the date of approval and the application for opening to the Zhejiang Banking and regulatory Bureau should be submitted in accordance with relevant regulations and procedures. If the preparation is not completed on schedule, the preparation and postponement report shall be submitted to the CBRC 1 months before the expiry date. The delay shall not exceed one time, the maximum period is 3 months. If the application for opening is overdue, this preparation approval document is invalid.

September 26, 2014