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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Lenders get shot in the arm

Posted on 12 October 2012

Central Huijin Investment Ltd, an arm of sovereign wealth fund China Investment Corp, has pledged to continue to shore up the capital market by buying stakes of four major State-owned lenders. It has been purchasing shares of the Big Four banks in the secondary market since Wednesday, and will continue doing so.
The four lenders are Industrial and Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd, and Bank of China Ltd. Central Huijin’s statement means the major shareholder in China’s main State-owned banks has extended a year-long purchase program that lapsed on Wednesday………………………………………..Full Article: Source

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