Joint-Stock Bank

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Joint-Stock Bank

A bank that issues stock and requires shareholders to be held liable for the company's debt. In other words, a joint stock bank combines features of a general partnership, in which owners of a company split profits and liabilities, and a publicly-traded company, which issues stock that shareholders are able to buy and sell on an exchange. A joint-stock bank is not owned by a government.
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Central Huijin is a wholly owned subsidiary of China Investment Corporation (CIC), China's sovereign wealth fund, and the vehicle that holds controlling stakes in the country's four largest joint-stock banks and China Development Bank Corporation (A+/Stable) on behalf of the government.
Among them, loan from city commercial banks to small enterprises accounted for 21.05%, which was almost the same as that from joint-stock banks, slightly lower than that from state-owned commercial Banks.
The assets of major commercial banks have totalled CNY46.76tn at the end of last month, up 12.9 percent from earlier, while assets held by joint-stock banks have totalled CNY15.2tn, up 25.8 percent as compared to a year ago.
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