Hylands Law Firm Helps China Railway Investment Co., Ltd. Take Shares in the Bank of Hainan

On June 10, 2020, it is published in the official website of Hainan Regulatory Bureau of China Banking and Insurance Regulatory Commission that, according to the Approval of Hainan Regulatory Bureau of China Banking and Insurance Regulatory Commission on Changing Shareholders of the Bank of Hainan [Qiong Yin Bao Jian Fu (2020) No.50], China Railway Investment Co., Ltd. is granted to hold 360,000,000 shares, representing 12% of the total share capital, in Bank of Hainan Co., Ltd..

As a wholly owned enterprise directly under China State Railway Group Co., Ltd. (“CHINA RAILWAY”), China Railway Investment Co., Ltd. (“China Railway Investment”) undertakes the functions of state-owned capital investment and asset management, railway asset resource development and financial insurance services to the extent authorized by CHINA RAILWAY. Established with the approval of the State Council and the China Banking and Insurance Regulatory Commission, Bank of Hainan Co., Ltd. (“Bank of Hainan”) is a joint-stock city commercial bank, and also the only provincial legal-entity commercial bank in Hainan Province. The present share holding by China Railway Investment in the Bank of Hainan marks the entry of CHINA RAILWAY capital into the banking sector, representing another breakthrough in the mixed-ownership reform for the railway industry.

Hylands Law Firm is engaged as the special legal adviser of China Railway Investment with respect to the project involving its participation into the Bank of Hainan, and is responsible for providing full legal services for the project, including proposal demonstration, due diligence, compliance consulting, legal risk control, drafting and revising legal documents. A team led by ZHANG Miao, partner lawyer of Hylands Law Firm, with other lawyers including ZHANG Fan, GONG Ming and PEI Zhoujian is formed to handle the project.

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