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He reportedly was instrumental in starting China's first private bank, Minsheng Bank, which provides loans to private companies.
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It includes a private-sector bank, China Minsheng (now No. 107), an auto giant, SAIC Motor (now No. 167) and a property developer, China Vanke (now No. 314).
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Attempts to expand into America have also faltered, following the failure this month of United Commercial Bank, a unit of a Californian holding company in which Minsheng has a stake.
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Minsheng had 374 outlets at the end of 2008, 300 fewer than China Merchants, the largest joint-stock bank.
ECONOMIST: China��s first privately owned bank readies for listing