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CHINESE GOV'T INJECTS US$20 BLN INTO MAJOR STATE POLICY BANK.
BEIJING, Jan 1 Asia Pulse - Central Huijin Investment Co. (Huijin), an investment arm of the Chinese government, signed a contract with the China Development Bank (CDB) here Monday to inject US$20 billion into the state-owned policy bank.
The investment, ratified by the State Council, would sharply raise the CDB's capital adequacy and improve its risk-prevention capability, said a press release by the People's Bank of China, the nation's central bank.
The release indicated CDB was undergoing a fundamental reform to become a fully commercial financial institution.
Huijin had formerly invested in major Chinese commercial banks, including ICBC, CCB and the Everbright Bank, to help them shake off the heavy burden of bad ...
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Source: HighBeam Research, CHINESE GOV'T INJECTS US$20 BLN INTO MAJOR STATE POLICY BANK.