Shanghai pudonc development bank's potential acquisition of shanghai international trust could provide a model for the future restructuring of China's Rmb10.1trn (US$1.67trn) trust market. The possible transaction is considered part of the Shanghai government's plans to consolidate the financial hub's banking sector. The state owns both firms, while Shanghai International Group has a majority stake in the trust provider and a minority stake in SPD Bank, which last week said it was considering the purchase. The combination of a lending bank and trust manager, if consummated, could serve as a model for Chinese authorities as they begin to restructure the ailing trust sector, said an analyst.
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