Funde Sino Life Takes Control of National Trust

What’s new: Shenzhen-based insurer Funde Sino Life Insurance Co. Ltd. became the largest shareholder of National Trust Ltd. by acquiring a 40.72% stake in the trust and investment business from two shareholders.

The Beijing Banking Regulatory Bureau approved the equity transfer from Shanghai Chuangxin Asset Management Co. Ltd. and Shanghai Hengfengyu Industry Development Co. Ltd. to their parent Funde, according to a statement by the China Banking and Insurance Regulatory Commission (CBIRC).