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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Temasek sells part of China bank stakes

Posted on 07 July 2011

Temasek Holdings sold part of its stakes in two of the biggest lenders in China - Bank of China (BOC) and China Construction Bank (CCB) - for a total of about US$3.6 billion (S$4.4 billion).
The sale comes as China raised a key interest rate for a third time this year as it tries to cool surging inflation. With effect today, the benchmark rate for one-year loans will be raised 0.25 percentage points to 6.56 per cent, its central bank announced yesterday. The rate paid on deposits will rise by a similar margin to 3.5 per cent……………………………………….Full Article: Source


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