China’s Baoshang Bank to be taken over by local govts, state firms

Financial Post | Jan 21, 2020 at 6:22 AM
  • Financial regulators took control of Inner Mongolia-based Baoshang Bank last May, citing serious credit risks.
  • The governments of China’s Inner Mongolia Autonomous Region and Baotou, a major city in the region, will lead the acquisition of at least a 50% stake in a reorganized Baoshang Bank.
  • The Inner Mongolia and Baotou governments could not be reached for comment.