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 . . .
To continue reading, please subscribe. You will get
- An indispensable and reliable source of information on China's economy and financial markets
- Original and in-depth reporting
- Details, data and perspectives you don't read elsewhere
- THE WIRE - the ONLY real-time financial news platform focused on China, with 24/7 continuous live updates
- Daily Brief newsletters to get you prepared for every trading day
Don't Miss Christmas Offer! Full subscription less than $0.5 a day!
We highly value independence. We are solely funded by subscriptions from thousands of readers like you.
Already have an account? Sign In