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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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