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China is considering moving stakes in bad banks to sovereign wealth fund
Bloomberg (gated) with the info that China's Ministry of Finance proposes moving its stakes in 3 firms managing bad debts:China Cinda Asset Management Co., China Great Wall Asset Management Co. and China Orient Asset Management Coto Central Huijin Investment. The parent of Huijin is China Investment Corp. (CIC) will also assume the rights from the banking regulator to nominate key executives of the asset managers as their major shareholder.Bloomberg citing unnamed sources. This, in effect, wou...
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Posted: May 19 2023, 02:07
Author Name: forexlive
Views: 110157