February 22, 2018 / 8:51 AM / 6 months ago

China's central bank approves set up of credit reference firm

BEIJING, Feb 22 (Reuters) - China’s central bank on Thursday approved the set up of a credit reference firm called Baihang Credit Scoring.

Shareholders of the Shenzhen-based firm, with registered capital of 1 billion yuan ($157.25 million), include the National Internet Finance Association of China, Tencent and others. ($1 = 6.3591 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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