Beijing allows broader ownership at Bank of Communications
More private shareholding aims to drive growth by bringing on board commercially adept strategic investors
Thu, Jun 18, 2015 - 5:50 AM
While "optimising the shareholding structure", BoCom's reform won't weaken the central government's control over the bank, according to BoCom's filings late on Tuesday.
CHINA'S Cabinet has allowed Bank of Communications (BoCom), the country's fifth-biggest lender, to introduce more private shareholding as part of Beijing's financial reforms to revitalise state-owned banks.
The proposal, approved by the State Council, is aimed at driving...