China / Society

Guangdong may give green light to private banks

By ZHENG CAIXIONG in Guangzhou ( Updated: 2014-02-11 18:06

South China's Guangdong province is studying the possibility of giving a green light to the establishment of one or two private banks and one or two consumer finance companies this year.

Officials from the provincial office of finance made the remarks during the Science and Finance Work Conference of Guangdong Province, which took place in Guangzhou, the provincial capital on Monday.

The province which borders Hong Kong and Macao special administrative regions will also speed up the development of multi-level capital markets to support the combination of finance and science and technology and the combination of finance and industry.

The provincial office of finance has also mapped out a plan to provide financial and scientific support to the development of the province's myriad of mid-sized, small and micro enterprises this year.

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