China extends takeover period of six financial institutions linked to Tomorrow Holdings By Reuters

© Reuters. FILE PHOTO: A man rides an electric bike past the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China February 14, 2019. REUTERS/Stringer

BEIJING (Reuters) – China’s top banking and insurance regulator on Friday extended the takeover period of a group of six financial institutions with connection to the embattled Tomorrow Holdings.

The takeover period will be extended for another year till July 16, 2022, according to a statement of the China Banking and Insurance Regulatory Commission. (CBIRC)

Chinese regulators in July last year seized control of nine mid-sized firms that have ownership links to Tomorrow Holdings Co, which has been targeted in a government crackdown on systemic risks posed by financial conglomerates.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button