Beijing (CNS) -- With the Tibet Autonomous Region's rapid economic and social development, as well as its improving financial situation, the China Banking Regulatory Commission (CBRC) recently approved a plan to set up the Bank of Tibet.
On July 24, the CBRC claimed on its official website that the planned Bank of Tibet will be the first banking institution and shareholding commercial bank in Tibet. It will stimulate the economy in Tibet and enrich and empower the local financial market.
According to the CBRC, the Bank of Tibet will stick to a commercial regime. At the same time, with the goal of a well-balanced, healthy financial entity, the bank will take into consideration the social welfare of Tibet, including employment, education, medical care, social security, and environmental protection.
