Zheshang Banking Co., Ltd., China's twelfth joint-stock commercial bank is slated to be open to business on August 18 under the approval of China Banking Regulatory Commission. Private capital plays a leading role in it with 85.71 percent of stakes.

The bank is a result of restructuring of Zhejiang Commercial Bank. 13 out of the 15 shareholders are private enterprises which hold the controlling part. The remaining, 14.29 percent, is state fund.

Each of the three biggest shareholders accounts for 10.34 percent of the total and the smallest has an interest of 1.43 percent. This arrangement is believed to be able to prevent either overbalanced decision making by a dominant share or low efficiency in decision making because of too mixed interests.

By People's Daily Online