trending Market Intelligence /marketintelligence/en/news-insights/trending/rN_OqdKTQsyjX2MxD1aJyA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Chinese local governments, state firms to take over Baoshang Bank

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Report: Chinese local governments, state firms to take over Baoshang Bank

A group of Chinese state firms and the governments of the Inner Mongolia Autonomous Region and Baotou are set to acquire Baoshang Bank Co. Ltd., Reuters reported Jan. 21, citing a central bank official with direct knowledge of the matter.

The two local governments will lead the acquisition of at least a 50% interest in the restructured lender, the official said. The report after China's central bank said it will strengthen support for troubled banks in 2020 to combat financial risks.

State firms in Inner Mongolia will also participate in the takeover, the central bank official added. Other strategic investors include Huishang Bank Corp. Ltd., China Construction Bank Corp. and a national deposit insurance fund managed by the central bank. Huishang Bank Corp. Ltd. said earlier this month that it will invest 3.6 billion yuan in Baoshang Bank.

In May 2019, Chinese regulators decided to take over the Inner Mongolia-based bank to protect the interests of the bank's depositors and customers in view of severe credit risks.

The Inner Mongolia Autonomous Region and Baotou governments could not be reached for comment, while Baoshang Bank and Huishang Bank declined to comment. China Construction Bank did not reply to a request for comment from Reuters.

As of Jan. 21, US$1 was equivalent to 6.91 Chinese yuan.