At the end of 20 13, the Third Plenary Session of the 18th CPC Central Committee decided to open the financial industry wider to the outside world, allowing qualified private capital to initiate the establishment of small and medium-sized banks and other financial institutions according to law, developing inclusive finance and encouraging financial innovation. Quanmintong Financial Group has a registered capital of 800 million yuan, and owns subsidiaries such as Shenzhen Qianhai Quanmintong Equity Investment Fund Management Co., Ltd. and Shenzhen Qianhai Quanmintong Film and Television Media. Shenzhen Qianhai Yuehan Asset Management Co., Ltd. and Shenzhen Qianhai Niuwang Capital Management Group, among which Niuwang Capital Group has two subsidiaries, Shenzhen Qianhai Niuwang Asset Management Co., Ltd. and Shenzhen Qianhai Niuwang Equity Investment Fund Management Co., Ltd.