Baoshang Bank Enters Bankruptcy Proceedings; Beijing No. 1 Intermediate People's Court Rules to Accept the Bankruptcy Liquidation Application
On November 23, 2020, the China Banking and Insurance Regulatory Commission announced its approval in principle of Baoshang Bank entering bankruptcy proceedings, and the Beijing No. 1 Intermediate People's Court announced a ruling the same day accepting the application for bankruptcy liquidation of Baoshang Bank.