Central Huijin Investment, China's state-run investment agency, will be restructured to make it more market-oriented, the Wall Street Journal reported. The claim was made by state media, which cited central bank Governor Zhou Xiaochuan, although it didn't offer any details as to the nature or timing of the restructuring. Central Huijin was set up in 2003 to recapitalize the debt-ridden state banks. Zhou also said the government would speed up reform at Agricultural Bank of China (ABC), the weakest of the Big Four state lenders, with a view to a stock market listing. This backs up remarks made by China Banking Regulatory Commission Chairman Liu Mingkang in December that ABC would receive a capital injection from the government in the first half of 2007.
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