China is considering transferring government ownership in the nation’s biggest bad-debt managers to a unit of its sovereign wealth fund as part of a financial regulatory regime overhaul, according to people familiar with the matter.
Under the current proposal, the Ministry of Finance will move its stakes in China Cinda Asset Management Co., China Great Wall Asset Management Co. and China Orient Asset Management Co. to Central Huijin Investment Ltd., said the people, asking not to be identified discussing a private matter. China Investment Corp., parent of Huijin, will also assume the rights from the banking regulator to nominate key executives of the asset managers as their major shareholder, said one of the people
Read More : China Contemplates Transferring Stakes in Troubled Banks to Sovereign Wealth Fund