Han Jing/ Shanghai Daily news

Shenergy Group Finance Co held its opening ceremony yesterday in Shanghai after it was approved by the China Banking Regulatory Commission.

The China Banking Regulatory Commission’s Vice Chairman Cai E’sheng and Feng Guoqin, executive vice mayor of Shanghai, announced the opening of the new company at the ceremony.

The company, jointly invested by Shenergy Group, its listed arm Shenergy Co Ltd and Belgium-based Fortis Bank, is the first Sino-foreign financial company approved by the CBRC in Shanghai.

Shenergy Group Finance Co has 500 million yuan (US$65.79 million) in registered capital.