China extends the term of six financial institutions associated with Tomorrow Holdings By Reuters
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© Reuters. PHOTO OF THE FILE: A man is riding an electric bicycle in the building of the China Banking and Insurance Regulatory Commission (CBIRC) in Beijing, China, on February 14, 2019. REUTERS / Stringer
BEIJING (Reuters) – China’s main banking and insurance regulator on Friday extended the deadline for the acquisition of a group of six financial institutions with Tomorrow Holdings-linked.
The purchase period will be extended for another year until July 16, 2022, according to a note from the Banking and Insurance Regulatory Commission of China. (CBIRC)
Chinese regulators seized control of nine medium-sized companies with ownership of Tomorrow Holdings Co. in July last year as the government targeted repression against systemic risks posed by financial conglomerates.
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