Core Viewpoint - Shenzhen Financial Regulatory Bureau has published a list of 553 entities that have used terms like "financial holding" and "financial group" without approval, emphasizing the need for regulatory compliance in the financial sector [2][4]. Group 1: Regulatory Actions - The Shenzhen Financial Regulatory Bureau has mandated that entities on the list must apply for cancellation or change of name and business scope within three months, ensuring that no unauthorized financial terms are used [4][5]. - The bureau aims to strengthen market order and control illegal financial activities through comprehensive assessments of operating entities in the region [4]. Group 2: Characteristics of Non-compliant Entities - Many of the unauthorized "financial holding companies" exhibit characteristics such as mimicking state-owned enterprises in their names, with major shareholders being individuals rather than corporate entities [2]. - Some companies on the list include names of large domestic and foreign financial institutions, but their actual shareholders are often individuals with no direct ties to these institutions [2]. - A significant number of these entities are flagged for operational anomalies or risks, with some already being subject to enforcement actions [2]. Group 3: Current Landscape of Financial Holding Companies - According to Huachuang Securities, there are currently 71 local financial holding platforms in China, with 37 at the provincial level and 34 at the municipal and county levels [4].