Yongjin Fades Away

The "Yongjin Family," once known as the predator of the capital markets, has recently shown signs of contraction, making plans to phase out its important financial platform, the Yunnan International Trust and Investment Corporation (YITIC), with a sale to China Everbright Bank.  

In mid-December 2009, Yongjin executives paid a visit to the Yunnan provincial government, the Financial Office and the provincial banking regulatory bureau to discuss the transfer of a controlling interest in YITIC.