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Another central enterprise has implemented the "refund order".

Following the listing of China Telecom’s subsidiary for the transfer of equity in micro-loan, insurance agency and financing guarantee companies, China Poly’s subsidiary recently listed for the transfer of 1.7057 million shares of Panzhihua Rural Commercial Bank and all shares of Guangzhou Poly Microfinance Co., Ltd. (hereinafter referred to as “Poly Microfinance”).

Since the release of the "Regulations on Accountability for Preventing and Resolving Financial Risks (Trial)", which is known as the "refund order" by the market, central state-owned enterprises have accelerated the divestment of "financial institutions with little effect on serving the main industries and large risk spillovers". According to incomplete statistics from reporters, more than a dozen central and state-owned enterprises have cleared their equity in banks, insurance companies, small loans, and financing guarantee companies through public listing.

Industry experts interviewed pointed out that central enterprises and state-owned enterprises clearing out some financial equity that contributes little to their main business will help companies improve their main business innovation capabilities and market competitiveness and reduce the spillover effects of financial risks. It is expected that more state-owned central enterprises will make adjustments and transfer related financial assets in the future.

Listing and transfer of small loan and rural commercial bank equity

On August 12, the Beijing Equity Exchange website disclosed the transfer information of 1.7057 million shares of Panzhihua Rural Commercial Bank. The transfer floor price was 2.32 million yuan. The equity accounted for 0.1316% of the bank's total share capital. The equity holder was Zhongsi Tiancheng (Panzhihua) Silk Co., Ltd. (hereinafter referred to as "Panzhihua Zhongsi Tiancheng").