November 7, 2018 / 7:39 AM / 13 days ago

China approves four banks to set up a national financing guarantee fund

The company logo of China Development Bank Leasing (CDB Leasing) is displayed at a news conference on the company's IPO in Hong Kong, China June 23, 2016. REUTERS/Bobby Yip

BEIJING (Reuters) - China’s banking and insurance regulator has approved four state-owned banks to jointly invest and set up a national financing guarantee fund, it said in an online statement released on Wednesday.

The four lenders are China Development Bank, the Export-Import Bank of China, Agricultural Development Bank of China and Postal Savings Bank of China, according to the statement.

Reporting By Beijing monitoring desk; Editing by Shri Navaratnam

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