Chinese Sovereign Wealth Fund Boosts Stakes in Nation’s Lenders
This article is for subscribers only.
Central Huijin Investment Ltd., a unit of China’s sovereign wealth funds, increased its stakes in the nation’s four biggest banks last week.
Central Huijin bought 19.3 million yuan-denominated A shares in Industrial & Commercial Bank of China Ltd., 24.5 million in China Construction Bank Corp., 18.5 million in Bank of China Ltd. and 42.9 million in Agricultural Bank of China Ltd. on June 13, the four lenders said in separate exchange statements yesterday. Central Huijin will continue to buy shares in the banks in the following six months, according to the statements.