Minsheng Banking receives permission to sell bonds of $7.9 billion to aid small businesses

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In China Minsheng Banking Corp. has received regulatory permission to sell $7.9 bn (50 bn yuan) of bonds to promote borrowing among small companies. The approval provided by China Banking Regulatory Commission is a part of Chinese government's plan to support small firms, create jobs and promote innovations.  The permission of bond sale still has to be approved by People's Bank of China.