Huarong Consumer Finance company, the first of its kind in East China's Anhui Province, has received approval from the Anhui office of China Banking Regulatory Commission (CBRC).
With a registered capital of 600 million yuan, the company is jointly founded by China Huarong Asset Management Corporation, Hefei Department Store Group, Shenzhen Huaqianghongjia Investment Co., Ltd and Anhui Xinan Asset Management Co., Ltd.
According the Anhui office of CBRC, the quantity of non-banking institutions in Anhui will increase to 13 under five major categories.
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