November 7, 2018 / 7:37 AM / 10 days ago

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

BEIJING, Nov 7 (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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