Three Firms Ordered to Rectify for Unauthorized Use of 'Financial Holding' in Names

The Tibet Financial Regulatory Bureau recently issued a public notice stating that finance is a licensed industry requiring proper authorization. In accordance with relevant regulations, including the State Council's Decision on Implementing Access Management for Financial Holding Companies (Guo Fa [2020] No. 4), registration as a financial holding company or use of terms such as 'Financial Holding,' 'Financial Group,' or 'Jinkong' in company names is prohibited without approval. The Tibet Financial Regulatory Bureau, in coordination with market regulation authorities, conducted a comprehensive review of all financial operating entities within its jurisdiction. After comprehensive analysis, it was determined that three entities within Tibet's jurisdiction have unauthorized use of these terms in their names: 1. Lasa Economic and Technological Development Zone Yixing Jinkong Investment Co., Ltd.; 2. Tibet Jinkong Information Service Co., Ltd.; 3. Tibet Jinkong Fund Management Co., Ltd. (CCTV News)