China CITIC Bank to Set Up Asset Investment Subsidiary for 10 Billion Yuan

MT Newswires Live

2025/05/09

China CITIC Bank (HKG:0998, SHA:601998) plans to invest 10 billion yuan to establish a wholly-owned subsidiary, Xinyin Financial Asset Investment, according to a Shanghai Stock Exchange filing on Thursday.

The Chinese lender's board of directors approved the proposal, the filing said.

The lender's Shanghai shares rose over 2% and Hong Kong shares climbed over 1% in recent trade.

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