1. Yang Xiufang, chairman of China Bank Trust and Investment Company, was recently arrested by the relevant authorities in China. He participated in the illegal operation in this year's national debt repurchase and cashed in about one billion yuan.
2. BOC Trust and Investment Company has some problems such as illegal operation, chaotic management and poor asset quality, which seriously affects the interests of depositors. According to the Law of the People's Republic of China on the People's Bank of China and the Regulations on the Administration of Financial Institutions, the People's Bank of China decided to take over BOC Trust and Investment Company.
3. Guangdong Development Bank signed an acquisition agreement with BOC Trust and Investment Company.
Supplement: BOC Trust was established in June 1988. It is reported that the plan was approved by Chen, governor of the People's Bank of China, and its main shareholders include the People's Bank of China, Tiancheng Group, the General Political Department of the People's Liberation Army and the subordinate institutions of the Ministry of National Security.