An advertisement of Baoshang Bank in Beijing on September 8, 2018. Photo: Reuters
Financier Xiao Jianhua has shed his holdings in more than 10 banks, Chinese regulator says, offering a rare peek of a state-ordered break-up
- Tomorrow Group, controlled by Chinese financier Xiao Jianhua, has transferred its holdings in more than 10 financial institutions including the Bank of Weifang and Taian Bank in Shandong province, and Zhongjiang Trust in Jiangxi province, according to a statement by the bank regulator
- Harbin Bank, where Tomorrow Group also owns shares, is operating normally, the regulator said
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Banking & Finance
An advertisement of Baoshang Bank in Beijing on September 8, 2018. Photo: Reuters