China Minsheng Banking Corporation Limited (“China Minsheng Bank” or “the Bank”) was formally established in Beijing on 12 January 1996. It is China’s first national joint-stock commercial bank initiated and founded mainly by non-state-owned enterprises (NSOEs). As at the end of June 2020, the Bank had 42 branches in 41 cities across China, with 2,427 banking outlets and over 55 thousand employees. As at the end of June 2020, the non-performing loan (NPL) ratio of the group was 1.69%, and allowance to NPLs was 152.25%.