Recently, CNPC received the formal approval from the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and China Banking Regulatory Commission to become a shareholder of Karamay City Commercial Bank.
On April 22, the first temporary stockholders meeting of Karamay City Commercial Bank in 2009 was held in Xinjiang Uygur Autonomous Region. CNPC Chief Financial Officer Wang Guoliang, PetroChina Chief Financial Officer Zhou Mingchun, CNPC Deputy Controller Wen Qingshan were elected as directors of the Second Board of Directors of Karamay City Commercial Bank. After CNPC buy a share, the bank will further optimize its ownership structure.
The reorganized Karamay City Commercial Bank will set branches firstly in Beijing, Daqing Oilfield and Changqing Oilfield, and then grow into a nationwide commercial bank.