Zhejiang provincial state-owned enterprises approved to increase their holdings in Hangzhou United Rural Commercial Bank, raising the total shareholding ratio to 10%

According to information from the Zhejiang Financial Regulatory Bureau, the bureau has approved the transfer of 132 million shares of Hangzhou United Rural Commercial Bank to Zhejiang Provincial International Trade Group, a state-owned enterprise in Zhejiang Province, and has agreed to the transfer of 15 million shares to ZJOFHC. After the transfer, Zhejiang Provincial International Trade Group and ZJOFHC will hold 6.06% and 3.94% of the shares of Hangzhou United Rural Commercial Bank, respectively. It is worth mentioning that ZJOFHC is a core enterprise under Zhejiang Provincial International Trade Group. After the completion of this equity change, the two will collectively hold 10% of the shares of the bank, making them the largest shareholder alongside Hangzhou Jin Kong