China Approves New Asset Investment Arms for CITIC Bank, China Merchants Bank

China Approves New Asset Investment Arms for CITIC Bank, China Merchants Bank

China Approves New Asset Investment Arms for CITIC Bank, China Merchants Bank - The move expands a program allowing bank subsidiaries to make direct equity investments, channeling funds into strategic sectors and helping firms deleverage

China approves two more bank asset investment arms

Two more leading joint-stock commercial banks have secured official approval to open financial asset investment companies (AICs), expanding the roster of lenders authorized to conduct debt-for-equity swaps and direct equity investments to nine, reports Caixin. China CITIC Bank Corp. Ltd. said it has received a green light Friday from the National Financial Regulatory Administration to […]