皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

Huijin's rescue scheme for lenders draws to a close

By Liu Yiyu (皇冠体育app Daily)
Updated: 2009-09-29 08:19

Central Huijin Investment Ltd, the domestic arm of 皇冠体育app's sovereign wealth-fund, has completed a rescue scheme to increase shareholdings in 皇冠体育app's three largest banks, which was set in motion in the wake of the financial crash, according to the lenders.

Related publication:

But the retreat of the major stock rescuer would not likely drag down market sentiment and the market has pulled out of the worst, said analysts.

The Industrial & Commercial Bank of 皇冠体育app (ICBC), Bank of 皇冠体育app (BOC) and 皇冠体育app Construction Bank (CCB) announced the conclusion of Huijin's year-long program over the weekend.

Huijin bought additional shares equivalent to 0.08 percent of ICBC, 0.03 percent of BOC and 0.06 percent of CCB's total share capital in the past twelve months ended Sept 22. It launched the rescue scheme on Sept 23 last year in a bid to bolster share prices that plummeted after the outbreak of the global financial crisis...

The full text is available in the September Issue of 皇冠体育app Banking. Please visit  for more subscription details.