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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Foreign divestment from China banks to have limited impact: state media AFP - 2 hours 50 minutes ago BEIJING (AFP) - - Moves by foreign investors to cut their shares in Chinese banks will have a limited impact and will not affect the sector's stability, state media said Monday, downplaying concerns over recent sell-offs. Xinhua news agency issued the commentary after a series of reports about overseas dealers divesting themselves of stakes in Chinese lenders in order to raise much-needed cash amid the global financial crisis. "The impact is limited and controllable and will not affect the capital adequacy ratio ... of China's state-controlled financial institutions or the stability of the overall financial sector," it said. The liquidity in China's banking system is "ample", it added. Chinese households have placed about 20 trillion yuan (three trillion dollars) in the banks, earlier reports showed. Several foreign strategic investors trimmed shares in some Chinese banks, or said they might do so, sparking fears of more to come as overseas banks rushed to beef up their balance sheets. China Construction Bank last week confirmed that major shareholder Bank of America reduced its stake, with reports saying the firm sold 2.8 billion dollars' worth of shares in the Chinese lender. UBS AG, a shareholder of Bank of China, announced last month that it had sold its entire 1.33 percent stake in the Chinese bank. Royal Bank of Scotland has suggested it may sell a 4.3-percent stake in Bank of China, according to media reports. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Oil falls below $40 as investors eye US earningsAP - 40 minutes ago BIS-HIGHLIGHTS-Central bankers attend BIS meeting in BaselReuters - 59 minutes ago Glint of greener cars fails to lift pall from Detroit auto showAFP - 2 hours 12 minutes ago China Eastern: fuel hedging loss $900 millionAP - 2 hours 16 minutes ago Related Articles: Business TOPWRAP 2-Rising job losses fuel global recession fearsReuters - 38 minutes ago Most China stocks rise, financials depress indexReuters - 39 minutes ago Russia allows 2nd rouble weakening in 2 daysReuters - 40 minutes ago Oil falls below $40 as investors eye US earningsAP - 40 minutes ago European stock index futures point to early dropReuters - 41 minutes ago Enlarge Photo Foreign divestment from China banks to have limited impact: state media Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Britain's Prince Harry apologises for racist language Israeli troops push deeper into Gaza's main city Is Tintin gay? Cartoon birthday boy dogged by rumours Swiss bank set to announce record loss: report Kate Winslet wins Golden Globe supporting actress View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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