Top executives at Postal Savings Bank of China have had an exhausting summer. They were already busy meeting potential investors for a capital raising, ahead of an initial public offering next year, when they had to find Rmb74bn ($11.9bn) for China Securities Finance
— the de facto government fund used to buy Chinese shares, in an attempt to stabilise the mainland’s plunging stock market.
It is easy to be cynical about the Postal Savings Bank’s imminent listing — and that of its Japanese counterpart, Japan Post
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