The Chinese government will boost its stakes in the countryâs largest banks, as it attempts to shore up slumping financial stocks and to restore investor confidence. Central Huijin, the domestic arm of Chinaâs sovereign wealth fund, will purchase shares in Agricultural Bank of China, Bank of China, China Construction Bank and Industrial and Commercial Bank of China, the official Xinhua news agency announced on Monday. Xinhua added that the purchases by Huijin â its first such public intervention since a similar decision at the onset of the financial crisis three years ago â would âsupport the healthy operations and development of key state-owned financial institutions and stabilise the share prices of state-owned commercial banksâ. http://www.ft.com/cms/s/0/2caa65ec-f329-11e0-8383-00144feab49a.html#ixzz1aPeSKemy