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Home / South China Morning Post / China’s regulators take the scalpel to further downsize the financial empires of oligarchs Xiao Jianhua and Ye Jianming

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

Summary:
[unable to retrieve full-text content]China’s financial regulators have tightened their grip on a bank and a brokerage with links to two of the country’s biggest oligarchs, breaking up their sprawling conglomerates in an ongoing crackdown of malfeasance and excessive leverage.Two investment funds of the Heilongjiang provincial government raised their combined stake in Harbin Bank – a city-level lender based in north-eastern China and listed on the Hong Kong stock market – to 48.18 per cent, from 19.69 per cent, according to a stock…

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[unable to retrieve full-text content]
China’s financial regulators have tightened their grip on a bank and a brokerage with links to two of the country’s biggest oligarchs, breaking up their sprawling conglomerates in an ongoing crackdown of malfeasance and excessive leverage.Two investment funds of the Heilongjiang provincial government raised their combined stake in Harbin Bank – a city-level lender based in north-eastern China and listed on the Hong Kong stock market – to 48.18 per cent, from 19.69 per cent, according to a stock…

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