State-owned Chinese investment company Central Huijin Investment Ltd said its president has left his post after the company's share sale of … ICBC was simultaneously listed on The Stock Exchange of Hong Kong Limited and Shanghai Stock Exchange on October 27, 2006. Central Huijin Investment Co., Ltd. is a Chinese investment company owned by the government of the People's Republic of China.Established in 2003, it became a wholly owned subsidiary of China Investment Corporation, with its own Board of Directors and Board of Supervisors. Central Huijin Investment Ltd. said in a statement on late Wednesday that it bought shares in four major Chinese banks in the secondary market on Wednesday and flagged plans to continue with its share purchase program, in an extension of a year-long program that lapsed yesterday.--Central Huijin Investment says it bought shares in four major Chinese banks WednesdayIt started buying the shares last October to stabilize the share prices of the state-controlled commercial banks and to prop up the struggling stock market at the time. Central Huijin Investment Co Blogs, Comments and Archive News on Economictimes.com Including latest increase, China National Coal Group plans to increase its stake by up to 2.5% over the next 12 months, China Coal Energy added.--The move comes after a similar stake purchase program that started in October last yearThe index has rebounded in the past two sessions, ending up 0.2% at 2119.94 Wednesday, helped by China's central bank move earlier this week to inject its second-largest amount of daily funds into the money market, extending its effort to ease monetary conditions and bolster a slowing economy.Central Huijin said it raised its stakes in four major banks: Industrial & Commercial Bank of China Ltd. (1398.HK, 601398.SH), Agricultural Bank of China Ltd. (1288.HK, 601288.SH), Bank of China Ltd. (3988.HK, 601988.SH) and China Construction Bank Corp. (0939.HK, 601939.SH).Investors are also hoping that more supportive measures will be introduced to boost the domestic economy after a once-in-a-decade leadership transition in November.Beijing has also stepped up its calls for shareholders of listed companies to raise their stakes in recent months, as part of its efforts to rejuvenate the stock market.Central Huijin said it increased its stake in ICBC by 116.64 million shares in the past four quarters, while its stake in Bank of China rose by 251.27 million during the same period.The moves come days after the benchmark Shanghai Composite Index on Sept. 26 briefly dipped below the 2,000 level for the first time since February 2009, triggering alarm bells. )China Coal Energy said in a filing to the Shanghai Stock Exchange that China National Coal Group Co., its majority shareholder, bought 2.52 million A shares, or shares listed in mainland China, on Wednesday, while China Coal Hong Kong Ltd., one of the group's units, acquired 700,000 of the company Hong Kong-listed shares on the same day, taking the combined stake of the two firms to 57.54% from 57.52%.
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