Central Huijin pounced.

On the evening of October 11, the four state-owned banks collectively issued an announcement on the controlling shareholders to increase their shares of the Bank. Huijin Company increased its holdings of 24.8879 million shares, 37.2722 million shares, 27.61 million shares and 18.38 million A-shares in Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and Construction Bank, respectively. It intends to continue to increase its shares in the secondary market in its own name within the next 6 months (starting from the date of this increase).
According to the closing price on October 11, Huijin increased its holdings of Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China and Construction Bank by 94 million yuan, 136 million yuan, 130 million yuan and 117 million yuan respectively, with a total increase of 477 million yuan.
In the evening, FTSE China A50 index futures pulled straight up, extending their gain to 0.7 per cent.
Huijin's last collective increase in holdings of the four major banks can be traced back to 2015. On the evening of August 19, 2015, Industrial and Commercial Bank of China, Agricultural Bank of China, and Construction Bank collectively announced that they had received A notice from Huijin Company, the controlling shareholder, that Huijin Company had transferred its A-share shares by means of agreement transfer. Huijin transferred about 1.014 billion shares, 1.255 billion shares, 1.81 billion shares and 497 million shares to the above four banks, which cost nearly 20 billion yuan if the closing price is calculated on the day.
Four banks collective announcement
On the evening of October 11, the four major state-owned banks collectively issued a notice on the controlling shareholders to increase their shares in the bank, specifically:
Bank of China announced that Huijin, the controlling shareholder of the bank, increased its holding of 24.8879 million A-shares. Huijin intends to continue to increase its shares in the secondary market in its own name in the next six months (from the date of this increase).
Agricultural Bank of China announced that Huijin Company, the controlling shareholder, increased its holding of 37.2722 million A-shares through the Shanghai Stock Exchange trading system on October 11. Before the increase, Huijin held 40.03% of the bank's A-shares. After the increase, Huijin holds 40.04% of the Bank's A-shares. Huijin intends to continue to increase its shares in the secondary market in its own name in the next six months (from the date of this increase).
Icbc announced that Huijin, the controlling shareholder of the bank, increased its holding of 27.61 million A-shares on October 11, and intends to continue to increase its holding of the bank's shares in the secondary market in its own name in the next six months (from the date of this increase).
Construction Bank announced that Huijin Company, the controlling shareholder, increased its holding of 18.38 million A-shares of the Bank on October 11, and intends to continue to increase its holding of shares in the secondary market in its own name in the next 6 months (from the date of this increase).
According to the closing price on October 11, Huijin increased its holdings of Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China and Construction Bank by 94 million yuan, 136 million yuan, 130 million yuan and 117 million yuan respectively, with a total increase of 477 million yuan.
How much does it affect?
According to the official website, Central Huijin is a wholly state-owned company funded and established by the state in accordance with the Company Law of the People's Republic of China.
In December 2003, the Central Huijin Company was established with its headquarters in Beijing to exercise the rights and obligations of investors of state-owned commercial banks and other key financial enterprises on behalf of the state in accordance with law. In September 2007, the Ministry of Finance issued special Treasury bonds to purchase all the equity of Central Huijin Company from the People's Bank of China, and injected the above-mentioned equity into China Investment Corporation Limited (hereinafter referred to as "CIC") as part of its investment. The important shareholder duties of Central Huijin shall be exercised by The State Council. The members of the Board of directors and the Board of Supervisors of Central Huijin Company shall be appointed by The State Council and shall be responsible to The State Council.
According to the authorization of The State Council, the Central Huijin Company makes equity investment in key state-owned financial enterprises, and exercises investor rights and performs investor obligations on behalf of the State to key state-owned financial enterprises in accordance with law, so as to maintain and increase the value of state-owned financial assets. Central Huijin shall not carry out any other commercial business activities and shall not interfere in the daily business activities of key state-owned financial enterprises under its control.
As of December 31, 2022, The holding and participating institutions of Central Huijin include China Development Bank, Industrial and Commercial Bank of China Limited, Agricultural Bank of China Limited, Bank of China Limited, China Construction Bank Corporation Limited, China Everbright Group Corporation, China Export and Credit Insurance Corporation, China Reinsurance (Group) Corporation Limited and China Construction Bank Investment Corporation Limited China Galaxy Financial Holding Co., LTD., Shenwan Hongyuan Group Co., LTD., New China Life Insurance Co., LTD., China International Capital Corporation, Hengfeng Bank Co., LTD., Hunan Bank Co., LTD., Citic Jiantou Securities Co., LTD., China Galaxy Asset Management Co., LTD., Guotai Junan Investment Management Co., LTD .