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January 2009 - On January 9, 2009, the general assembly of establishment of the Agricultural Bank of China Limited (previously known as the “Agricultural Bank of China”) (the “Bank”) was held in Beijing. As sponsors, the Chinese Ministry of Finance and Central Huijin Investment Co. Ltd. were present at the session. Dr. Wang Li, Managing Partner of DeHeng Law Offices, and Guo Kejun and Xu Jianjun, team leaders of legal services for the Bank’s restructuring and listing were invited to the meeting. At the assembly, the sponsors adopted, among others, the Articles of Association of the Bank. As a result, the Bank changed its ownership structure as a shareholding company.
The registered capital of the Bank is RMB 260 billion Yuan. In November 2008, Central Huijin Investment Company Limited made a capital contribution to the Bank with a value equivalent to ¥130 billion Yuan. As a result of the capital contribution, both Central Huijin and the Ministry of Finance of the PRC now hold shares of the Bank in equal lots of 50%.
Following the assembly, the Bank amended its name as “Agricultural Bank of China, Limited.” Said name change was approved by the Chinese Banking Regulatory Committee on January 13, 2009 and by the State Administration for Industry and Commerce on January 15, 2009.
The restructuring of the Bank has attracted worldwide attention. DeHeng Law Offices was formally appointed as legal adviser on this project in April, 2007.
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