CIC’s Central Huijin boosts China bank stakes
Central Huijin Investment, the unit of China Investment Corp. (CIC) responsible for holdings in the country’s major state-owned banks, has been buying shares in these lenders to boost valuations. It took similar action in September 2008 as credit markets froze in response to the Lehman Brothers collapse.
Central Huijin started making purchases on the Shanghai bourse Monday and plans to continue with "related market operations," according to a statement on its website. Its intervention prompted a spike...
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