October 10 financial news: The Tibet Financial Regulatory Bureau recently issued a public notice regarding the cleanup and regularization of business entities whose names contain terms such as "financial holding," "financial group," and "financial control."

The Tibet Financial Regulatory Bureau pointed out that finance is a licensed industry and must be operated with a license. According to the Decision of the State Council on Implementing Access Management for Financial Holding Companies (Guo Fa [2020] No. 4) and other relevant regulations, no entity may be registered as a financial holding company without approval, and the terms "financial holding," "financial group," and "financial control" may not be used in company names.

In order to implement the spirit of the 20th National Congress of the Communist Party of China and the Central Financial Work Conference, strictly control financial access, maintain financial market order, and strengthen source control over illegal financial activities, in accordance with unified national deployment requirements, the Tibet Financial Regulatory Bureau, together with market regulatory authorities, conducted a comprehensive survey of financial-related business entities within its jurisdiction and, after comprehensive analysis and judgment.

The Tibet Financial Regulatory Bureau determined that there are three business entities within Tibet's jurisdiction whose names contain terms such as "financial holding," "financial group," and "financial control" without approval: 1. Lhasa Economic and Technological Development Zone Yixing Financial Control Investment Co., Ltd. 2. Tibet Financial Control Information Services Co., Ltd. 3. Tibet Financial Control Fund Management Co., Ltd.