China’s state wealth fund boosts stake in Big Four banks

China's state wealth fund has increased its ownership in the country's largest banks, known as the Big Four. This move indicates the government's commitment to supporting the financial sector amidst economic challenges. The fund purchased additional shares in Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China. These banks play a vital role in the nation's economy, providing financing to various industries. The increased stake by the state wealth fund will strengthen the banks' capital base and enhance their ability to lend to businesses and consumers. This move also instills confidence in the stability and resilience of China's banking system.
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