On the evening of April 12Tiger'sWildRide, Bank of China, China Construction Bank, Agricultural Bank of China, and Industrial and Commercial Bank of China issued announcements to disclose Huijin's increase in holdings. Specifically, since October 11, 2023, Huijin has increased its holdings of Bank of China by 3Tiger'sWildRide.30 million shares, increased its holdings of China Construction Bank by 71 million shares, increased its holdings of Agricultural Bank by 401 million shares, and increased its holdings of Industrial and Commercial Bank of China by 287 million shares, totaling more than 1 billion shares. Based on the closing price on April 12, Huijin spent approximately 5.229 billion yuan on increasing its stake in the four major state-owned commercial banks.
Huijin said that after the completion of this increase in holdings plan, it will continue to support the long-term steady development of the four major banks, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China.
Industry insiders believe that Huijin's increase in holdings reveals the firm confidence of regulators in the capital market and banking fundamentals, and also shows that the protection of the capital market at the national level will help stabilize market confidence and return the investment value of bank stocks.