China approves four banks to set up a national financing guarantee fund

The company logo of China Development Bank Leasing (CDB Leasing) is displayed at a news conference on the company's IPO in Hong Kong, China June 23, 2016. REUTERS/Bobby Yip - Copyright Bobby Yip(Reuters)

By Reuters

Published on 07/11/2018 - 11:04•Updated 19/04/2024 - 22:36

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BEIJING (Reuters) - China's banking and insurance regulator has approved four state-owned banks to jointly invest and set up a national financing guarantee fund, it said in an online statement released on Wednesday.

The four lenders are China Development Bank, the Export-Import Bank of China, Agricultural Development Bank of China and Postal Savings Bank of China, according to the statement.