Central Huijin increases stakes in major Chinese banks

Central Huijin Investment Ltd. (Central Huijin), a state-owned investment company, has increased its holdings of A-shares in four of China's largest lenders, according to the banks' announcements released Wednesday.

Specifically, the

investment company bought 27.61 million shares in the Industrial and Commercial Bank of China and 37.27 million shares in the Agricultural Bank of China.

It also increased stakes in the Bank of China and the China Construction Bank by 24.89 million shares and 18.38 million shares, respectively, said their statements.

Central Huijin will continue purchasing more shares of the four banks in the secondary market in the following six months.

Headquartered in Beijing, Central Huijin was established in 2003 and mandated to exercise the rights and obligations of an investor in major state-owned financial enterprises.