China’s four biggest banks rise in value after state fund increases its share.

In a bid to bolster the confidence of the Chinese market, Central Huijin Investment has decided to increase its stake in four of China’s largest banks. Central Huijin Investment, a subsidiary of China Investment Corporation, will be acquiring additional shares in Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China. By increasing its ownership in these major financial institutions, Central Huijin Investment aims to instill faith in the stability and strength of the Chinese banking sector.

This move comes as part of China’s broader efforts to boost market confidence amidst the economic challenges posed by the COVID-19 pandemic. By increasing its stake in these banks, Central Huijin Investment is signaling its commitment to supporting the financial sector and ensuring the smooth functioning of the Chinese economy. The move is expected to have a positive impact on investor sentiment, as it demonstrates the government’s proactive approach to addressing economic uncertainties and promoting stability.

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