Suning, Enlight Media Win Private Bank Licenses

(Beijing) — Two investor groups, one including retailing giant Suning and another with filmmaker Enlight Media, have become the latest recipients of new private bank licenses under a Beijing program to invigorate a financial services sector dominated by state-run companies.

Beijing Enlight Media Co. Ltd. received a license from the China Banking Regulatory Commission (CBRC) on Wednesday, it said in a statement to the Shenzhen Stock Exchange. Suning Commerce Group Co. Ltd. issued a statement the same day saying its own group also received a license.