China´s 1st rural bank to launch IPO

A small bank in eastern China is set to be the first of the country's rural lenders to go public. And the banking regulator says and more listings of this kind are set to follow.

The Zhang-jia-gang Rural Commercial Bank, based in Jiangsu province, has won approval for an IPO. But no details about size, timing or location of the listing have yet to be released. Meanwhile, the China Banking Regulatory Commission says it's encouraging rural lenders who meet requirements to raise funds by launching IPOs on markets.

Beijing, Shanghai and Shenzhen Rural Commercial Banks have been mentioned as strong potential candidates.