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Sovereign Wealth Funds Briefing - Categorized | Investment

CIC unit raises stakes in China’s four major banks

Posted on 02 September 2013

An arm of China’s sovereign-wealth fund has raised its stake in the nation’s banks, buying around $340 million of shares in the four major lenders in the first half of the year, likely seeking to bolster the equity market as the economy slows and worries linger over the health of the country’s financial system.
The biggest investment by Central Huijin Investment Ltd. was in Industrial & Commercial Bank of China —the biggest lender by assets—buying 721 million yuan ($118 million) of shares and raising its stake to 35.50% from 35.46%, according to data provider WIND Info………………………………………..Full Article: Source


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