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Bank of Shanghai ups registered capital by 30% to 14.21B yuan

Bank of Shanghai Co. Ltd. obtained approval from the China Banking and Insurance Regulatory Commission to increase its registered capital by around 30% to 14.21 billion Chinese yuan from 10.93 billion yuan.

Meanwhile, the regulator approved the lender to issue up to 20 billion yuan of Tier 2 bonds, according to a separate statement issued Aug. 15.

As of Aug. 15, US$1 was equivalent to 7.03 Chinese yuan.