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China’s sovereign wealth fund subsidiary takes stake in troubled Heng Feng Bank

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China’s sovereign wealth fund is taking stake in Heng Feng Bank, a troubled lender linked to fugitive financier Xiao Jianhua, the third commercial lender to receive state assistance since May, following the takeover of Inner Mongolia-based Baoshang Bank and the restructuring of Liaoning-based Bank of Jinzhou.

Central Huijin Investment, a subsidiary of the sovereign wealth fund China Investment Corporation and shareholder in China's Big Four state lenders, has emerged as a strategic investor in Heng Feng . . .

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