Central Huijin Investment ups stakes in BOC, ICBC
10 October 2012
News, Asia, China
China state-owned investment vehicle Central Huijin Investment has been increasing its holdings in Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in the third quarter, according to a statement released on the Shanghai Exchange on Tuesday (October 9).
Central Huijin Investment purchased 18.8 million BOC shares and 6.26 million ICBC shares between July and September. It owned 123.7 billion BOC shares and 188.8 billion ICBC shares as of the end of September, representing 35.43% and 67.64% of the banks’ total capital shares, respectively.
This came after the investment vehicle purchased 7 million shares in ICBC, 3.85 million shares in China Construction Bank, 763,000 million shares in BOC, and 8 million shares in Agricultural Bank of China in the previous quarter.
Since October 2011, Central Huijin Investment has actively purchased shares in four state-owned banks in a move to stabilise market volatility and bolster investor confidence.
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