CPIC responded to the reduction of Bank of Hangzhou: highly recognized the good performance of Bank of Hangzhou, and the reduction is a conventional investment operation
For the continuous reduction of Bank of Hangzhou since this year, China Pacific Insurance said that China Pacific Insurance highly recognized the good performance created by Bank of Hangzhou since its stake. This reduction is based on the needs of strategic asset allocation and belongs to conventional investment operation. It will be steadily reduced according to the announcement on share reduction plan of less than 5% shareholders of Bank of Hangzhou Co., Ltd. disclosed on August 3.
This text is a result of machine translation.
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