China News Service, May 23, according to the WeChat public account of the Central Bank, according to Article 67 of the Commercial Bank Law of the People's Republic of China, with the approval of the China Banking and Insurance Regulatory Commission, the period for the takeover of Baoshang Bank extended by six months From May 24, 2020 to November 23, 2020.

  On May 24, 2019, the People ’s Bank of China and the China Banking and Insurance Regulatory Commission issued an announcement regarding It is stipulated that the takeover of Baoshang Bank Co., Ltd. will be implemented from May 24, 2019, and the takeover period will be one year.

  Since the implementation of the takeover, the takeover team has steadily promoted the work of the Baoshang Bank to clear assets and verify capital, reform and reorganization. At present, Mengshang Bank has been established and opened smoothly, running smoothly. Mengshang Bank and Huishang Bank's acquisition of contractors' bank-related businesses, assets and liabilities are proceeding in an orderly manner. Due to the impact of the epidemic, the progress of Baoshang Bank ’s subsequent legal disposal shall be appropriately postponed. According to Article 67 of the "Law of the Commercial Bank of the People's Republic of China", with the approval of the China Banking and Insurance Regulatory Commission, the period for the takeover of Baoshang Bank was extended for six months, from May 24, 2020 to November 23, 2020 .

Screenshot of the central bank WeChat public account