BEIJING, Oct 12 (Reuters) - China Jap Airways 600115.SS will obtain a money injection of 31 billion
BEIJING, Oct 12 (Reuters) – China Jap Airways 600115.SS will obtain a money injection of 31 billion yuan ($4.60 billion) from 4 new traders as a part of an fairness diversification plan, the corporate mentioned on Monday.
China Life Funding Holding Restricted, a subsidiary of the state-owned China Life Insurance coverage Co 601628.SS, will inject 11 billion yuan into the airline, whereas Shanghai Jiushi Group, one other state firm, will inject 10 billion yuan, in line with the general public submitting.
China Reform Holdings Company and China Tourism Group, each state-owned entities, will inject 5 billion yuan every.
The transfer is a part of long-standing China’s efforts to diversify possession buildings amongst its state-owned enterprises and comes at a crucial time after China Jap posted a internet lack of 8.5 billion yuan within the first half as a result of COVID-19 pandemic.
China Southern Airways 600029.SS additionally introduced final yr that it could obtain a capital injection of 30 billion yuan from three traders.
($1 = 6.7463 Chinese language yuan renminbi)
(Reporting by Stella Qiu in Beijing and Jamie Freed in Sydney, enhancing by Louise Heavens)
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