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China Pays $1 Bln for U.S. Exits

State-owned lender offers funds so Chinese companies can leave U.S. stock market.

By Bloomberg News | Updated on July 11, 2012

China Development Bank Corp., the state-owned lender charged with strengthening the country’s competitiveness, is providing more than $1 billion to help smaller companies leave the U.S. stock market.

The nation’s biggest policy lender has offered funding so Fushi Copperweld Inc., a Beijing-based wire maker listed on the Nasdaq Stock Market, can buy back its shares from the public, the company said last month. China TransInfo Technology Corp. said June 8 it would drop its U.S. listing with CDB financing. The bank has provided more funding than any other lender to help the nation’s companies exit the world’s biggest equity market, according to Roth Capital Partners, which specializes in emerging markets.

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