On July 19, 2006, the China Banking Regulatory Commission gave Panasonic (China) Co, Ltd. the approval for the establishment of the Panasonic Group Finance Company in Pudong of Shanghai. This was the first time a foreign invested holding company obtained an approval to establish an enterprise group finance company in China since the new Administration of Enterprise Group Finance Companies Procedures came into effect as of September 1, 2004.  Llinks advised Panasonic (China) Co, Ltd..