SHANGHAI: China's foreign exchange regulator has bought mainland stocks worth over 27 billion yuan ($4.18 billion) via three low-profile investment firms it controls, the official Shanghai Securities News reported on Thursday.
Buttonwood Investment Platform Ltd, 100 percent owned by the State Administration of Foreign Exchange (SAFE), and Buttonwood's two fully-owned subsidiaries, have bought shares in a total of 13 listed companies, the newspaper reported, citing top 10 shareholder lists in the companies latest earnings reports.
Recent earnings filings show Buttonwood is among the top 10 shareholders of Bank of China, Bank of Communications , Shanghai Pudong Development Bank , Everbright Securities and Industrial and Commercial Bank of China.
Calls to SAFE were not answered.
Buttonwood is a new platform China's government uses to buy domestic shares, according to Shanghai Securities News. The government also uses Central Huijin Investment Ltd, and China Securities Finance Corp, the state margin lender, to buy A shares.
($1 = 6.4663 Chinese yuan)
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- ^ stoc ks (economictimes.indiatimes.com)
- ^ investments (economictimes.indiatimes.com)
- ^ Everbright (economictimes.indiatimes.com)
- ^ Commercial Bank (economictimes.indiatimes.com)
- ^ Silk (economictimes.indiatimes.com)
- ^ Finance (economictimes.indiatimes.com)