On 31 May 2019, the application for offering domestic preference shares filed by China Minsheng Banking Corporation (CMBC) was passed and approved by China Securities Regulatory Commission.

CMBC, the first national joint-stock commercial bank initiated and founded mainly by non-state-owned enterprises, was established in Beijing in February 1996.  The company was listed on Shanghai Stock Exchange and Hong Kong Stock Exchange in December 2000 and November 2009, respectively.

For its sustainable development, CMBC intended to issue no more than 200 million preference shares and the funds so raised was up to RMB 20 billion.

Grandall Beijing has been retained as the legal advisor of the issuer with partners ZHANG Lixin and TIAN Bi leading their team members serving the case.