Hengfeng Bank takes China bailout

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Hengfeng Bank takes China bailout

China Shanghai sunset 230px
sunset at shanghai china, huangpu river and bund. | kalafoto - Fotolia

Hengfeng Bank will soon become the third Chinese bank to be taken into state control, since the People's Bank of China (PBoC) took over Baoshang Bank in May — a move that pushed Hengfeng into a liquidity crunch.

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