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Sovereign Wealth Funds Briefing - Categorized | Performance

Capital-Injected agricultural bank faces further challenges

Posted on 27 October 2008

From Chinastakes.com: ABC vice-president Pan Gongsheng, who is in charge of the reform, disclosed that the $19 billion injected by Central Huijin Company as additional core capital, together with 130 billion yuan previously allocated by Ministry of Finance, will well match ABC’s major financial indicators with those of other state-owned banks.

Huijin and the Ministry of Finance, which each own 50% of the bank’s shares, will set up a joint fund to take over ABC’s 800 billion yuan of non-performing assets….. Full Article: Source


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