A branch of Harbin Bank in Dalian, northeast China’s Liaoning province. Photo: Imaginechina

China’s regulators take the scalpel to further downsize the financial empires of oligarchs Xiao Jianhua and Ye Jianming

  • Two investment firms owned by the Heilongjiang provincial government increased their stakes in the midsize commercial bank to 48.18 per cent in total from 19.69 per cent
  • It came after Chinese authorities extended lifelines to at least three lenders, including the central bank’s takeover of Baoshang Bank in May
Topic |   Banking & Finance
A branch of Harbin Bank in Dalian, northeast China’s Liaoning province. Photo: Imaginechina
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