China has Bought Stake in HDFC : Economic Upheaval Policy Commences

China's central bank, People's Bank of China (PBOC), has bought a 1.1 percent stake in housing finance major HDFC Ltd on behalf of the Chinese
sovereign wealth fund SAFE.

The transaction is not for the Chinese Central bank itself, said HDFC Chairman, Deepak Parekh. Similarly, the Saudi Arabian Monetary Authority (SAMA) has also picked up a 0.7 percent stake in HDFC on behalf of Saudi sovereign wealth fund, Parekh said. SAMA's name isn't reflected in the names of major shareholders as the holding in the company is less than one percent.

HDFC has seen significant interest from institutional investors. For instance, the Life Insurance Corporation of India (LIC) increased its holding in HDFC Ltd to 4.67 percent from 4.21 percent in December quarter.

China is on the roll to give its deceitful plan of causing global financial disruption and we see it as a way of entering our home loan space segment. Check how Chinese companies are entering the Fortune 500 list at a fast pace here.

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