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Temasek to hold on to stakes in Chinese banks

Updated: 2012-07-13 07:37
By Wei Tian ( China Daily)

Temasek Holdings Pte Ltd will maintain its stake in China's banking sector in the long term despite a possible economic slowdown and the ongoing interest rates reform, the Singapore state investor said on Thursday.

"Seeing the current increase in consumption and ongoing urbanization, we are still confident in China's economic potential," Ding Wei, head of operations at Temasek China, said at a Beijing news conference.

Ding said the Chinese economy has slowed amid the current global economic downturn and internal imbalances, but he believes it is not likely to have a hard landing.

Temasek to hold on to stakes in Chinese banks

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