Chinese state-owned firms takeover Evergrande's $1b holding in Shengjing Bank

Chinese state-owned firms takeover Evergrande's $1b holding in Shengjing Bank

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo

State-owned companies of the Chinese northestern city of Shenyang bought China Evergrande Group’s shareholding in Shengjing Bank in an auction for 7.3 billion yuan ($1.05 billion), Alibaba auction platform showed on Wednesday.