The National Financial Regulatory Administration's Zhejiang Office has granted approval for Zhejiang Jinhua Chengtai Rural Commercial Bank Co., Ltd. to issue tier 2 capital bonds, as per a regulatory filing dated June 3.

The bank is authorized to issue up to 7 billion yuan in these bonds.

The regulatory body stated that the bank must adhere strictly to relevant regulations, including the Commercial Bank Capital Management Measures, throughout the issuance and management of the bonds.

Within the approved quota, the bank has the autonomy to determine the specific timing, number of tranches, and size of the issuance, provided the entire process is completed within 24 months of the approval date.