Caixin reports Chinese regulators have awarded the fourth license this year to investors seeking to set up a bank, another step to allowing private capital into the banking sector and boosting the growth of the real economy. The China Banking Regulatory Commission (CBRC) on Monday approved the establishment of Fujian Huatong Bank in a free-trade zone in the southeast coastal province of Fujian. Huatong Bank has amassed 2.4 billion yuan ($347 million) from eight privately owned enterprises in Fujian in its registered capital. The approval comes as China is encouraging private banks as a way to channel more of the country’s 148.52 trillion yuan in savings to smaller companies that are thirsty for funds. By contrast, many giant state-run companies are having difficulty paying off their bank loans.