On December 26, 2005, China Banking Regulatory Commission (CBRC) officially approved BNP Paribas' investment in Nanjing City Commercial Bank (NCCB). CBRC approved BNP Paribas to purchase 10% equity interest in NCCB from International Finance Corporation and 9.2% equity interest in NCCB from several PRC selling shareholders. Nanjing City Equity Custodial Center (the equity custodial institution of NCCB) issued a share certificate to BNP Paribas, which represents 19.2% equity interest in NCCB. Llinks advised BNP Paribas as sole legal counsel on this deal in all aspects.