Billionaire Stokes on Investment in China Agri Bank (Audio)
Kerry Stokes, the Australian billionaire and chairman of Seven Group Holdings Ltd. (SVW), talks about his decision to become one of the cornerstone investors in Agricultural Bank of China Ltd. (601288), and its Chairman Xiang Junbo.
Investors such as Hong Kong billionaire Li Ka-shing and the sovereign wealth funds of Kuwait, Qatar and Singapore joined Stokes in wagering that the bank will benefit from the rapid development of China’s agrarian inland areas, where growth is already outstripping that of the wealthy coastal cities, Bloomberg Markets magazine reports in its December issue. Stokes spoke with Bloomberg's Willam Mellor on Sept. 19 in Sydney. (Excerpt. Source: Bloomberg)
Running time 10:11