Troubled Bank of Qinghai Gets a New Top Shareholder

What’s new: The Qinghai Provincial Finance Bureau took over a 19.71% stake in Bank of Qinghai Co. Ltd., becoming the largest shareholder of the only urban commercial bank in the western China province.

The stake was transferred from another government entity, Qinghai Provincial State-Owned Assets Investment Management Co. Ltd., which is controlled by the provincial State-owned Assets Supervision and Administration Commission (SASAC), according to an equity transfer document approved Monday by the National Administration of Financial Regulation.