July 26, 2019 / 3:04 AM / 2 months ago

China may give big asset management firms nod for M&As of smaller banks - sources

SHANGHAI/BEIJING, July 26 (Reuters) - China’s banking and insurance regulator is considering allowing big asset management firms to engage in mergers and acquisitions of high-risk small and medium-sized Chinese banks, two sources with direct knowledge of the matter said on Friday.

China’s four biggest asset management companies are China Huarong Asset Management Co, China Orient Asset Management Co, China Cinda Asset Management Co and China Great Wall Asset Management Co. (Reporting by Li Zheng in SHANGHAI, Cheng Leng and Ryan Woo in BEIIJNG; Editing by Simon Cameron-Moore)

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