China banks suffer after ‘monopoly’ comment

Posted on April 05, 2012 at 02:29 AM EDT

China’s biggest banks trade lower after Premier Wen Jiabao says they earn profit “too easily” and urges a break up of their virtual monopoly. But analysts downplay the likelihood of any big changes that will rock the state-owned lenders.

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Agricultural Bank of China Bank of China Ltd Beijing Unsponsored ADR representing H shares Bank of Communications Co Ltd DFM BANK IND Industrial and Commercial Bank of China Ltd Hkd Shs -H-

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