Yue Xiu To Pay $1.5B For Hong Kong's Chong Hing Bank

By Stephanie Russell-Kraft ( October 25, 2013, 1:01 PM EDT) -- Yue Xiu Group Ltd. , the trading arm of Guangzhou municipal people's government, has agreed to buy up to 75 percent of Chong Hing Bank Ltd. for about 11. 64 billion Hong Kong dollars ($1. 5 billion) as part of its push into Hong Kong, the companies announced in a joint statement Friday. . . .

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