CIC may drop bank stability mandate
The China Investment Corporation (CIC), the PRC's $298 billion sovereign wealth fund, may relinquish its position as holding company for China's stake majority positions in its leading banks and other financial institutions, and guarantor of financial stability for these groups, with potential implications for its broader investment approach.
Wang Qishan, PRC premier with responsibility for finance, is reportedly advocating the changes, which would involve demerging Central Huijin Investment Corp., the financial asset holding company merged...
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