What to know about the Chinese government’s plan to sell assets of its biggest foreign banks – Bloomberg

China’s central bank has asked a committee to consider selling assets of the country’s biggest foreign banking group, according to a report.

The committee said it was considering the proposal from the countrys biggest private bank, Shanghai Jiaotong Banking Corp., which is the largest foreign bank in the world.

The countrys second-largest private bank and the largest by market value, Sberbank, is also being examined.

A spokesperson for Sber said the bank would be reviewing the request, adding that the board of Sber had been in contact with regulators and government officials.

The China Central Bank also issued a statement saying that the government would take appropriate action.

“We are not at this stage in the process of making a final decision on the matter,” the statement said.

The decision is subject to approval by the central bank’s top management, the statement added.

The bank would take the appropriate measures to comply with its regulatory responsibilities.

On Wednesday, Sankyo, the biggest foreign bank by market cap, said it planned to sell its Shanghai branch of China’s biggest bank, the China Development Bank.

“The China Development bank’s commercial assets are a valuable asset for the Chinese economy, and we are now in the midst of a very challenging period in the global economy,” Sanko said in a statement.

It said it had begun selling the Shanghai branch in August.

“Sankyo’s China branch has served as an important asset for China’s economic development for many years,” the bank said in the statement.

“Our China branch serves as an invaluable asset for all the stakeholders, including China and the wider international community, to support the economic development of China.”

Sankyos assets include the world’s largest land and air shipping company, Sino Air Holdings Co., and the worlds largest cement producer, Jilin Metals Corp. The company said in March it planned a sale of more than $500 million worth of assets, including its land and water assets, to Sankyon, its largest overseas bank.

Sankyns board is chaired by Chairman Yang Shiyu, who was appointed in March.

Yang, a veteran banker who is also a former governor of China, has been an outspoken critic of President Xi Jinping, the country with the world’ s largest economy and one of the world\’s biggest economies.

In February, he publicly called for the bank to be shut down, saying that Xi had turned a blind eye to “economic crime” and that the bank\’s problems were the result of its “failing” leadership.

He has also called for China to be a more democratic country.

“I think the people in the leadership of China are not interested in economic stability, they are interested in their own economic development,” Yang said in February.

The chairman of Sankym, Jiawei Ren, was also appointed to the Sankyanan panel in March, and was given the role of the banks chairperson.

In a statement to Bloomberg, Ren said he was pleased to take up the role as chairperson of the Sino Development Bank as the new bank chairman.

“China and the Chinese people are a very proud and proud people,” he said.

“For decades, the Sber bank has been one of China\’s most reliable and successful financial institutions and the SBER will continue to do its best to serve the people of China and our region.”