China slowly clarifies its bank bailout message

Bank of Jinzhou Co

29/07/2019 03:25

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Christopher Beddor
    HONG KONG, July 29 (Reuters Breakingviews) - Two months
after officials seized one regional lender, state-backed
financiers are taking stakes in Bank of Jinzhou, which holds a
roughly $100 bln balance sheet. Mixed signals plagued the last
round. The trick now will be sticking to a message that keeps
investors a bit nervous.
    Full view will be published shortly.
    On Twitter https://twitter.com/cbeddor
    
    CONTEXT NEWS
    - Three state-controlled financial institutions said on July
28 that they would take stakes equivalent to at least 17.3% of
the Hong Kong-listed Bank of Jinzhou, Reuters reported.
Industrial and Commercial Bank of China, China Cinda Asset
Management and China Great Wall Asset Management all said they
would take stakes in the troubled lender.
    - For previous columns by the author, Reuters customers can
click on  BEDDOR/ 
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Bank of Jinzhou disclosure    https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0728/ltn20190728057.pdf
China's ICBC, others buying more than 17.3% pct stake in
troubled Bank of Jinzhou     urn:newsml:reuters.com:*:nL4N24T06B
BREAKINGVIEWS- China’s bank turmoil locks in moral hazard   
 urn:newsml:reuters.com:*:nL4N23S06Q
BREAKINGVIEWS- Beijing needs to pick a bank bailout message   
 urn:newsml:reuters.com:*:nL4N23C0O3
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by Pete Sweeney and Katrina Hamlin)
 ((christopher.beddor@thomsonreuters.com; Reuters Messaging:
christopher.beddor.thomsonreuters.com@reuters.net))