China’s state banks set to profit from early CXMT equity bets amid national tech drive

In line with Beijing’s goal of tech self sufficiency, Chinese investors have propelled ChangXin Memory Technologies (CXMT) to become the largest mainland-listed firm, with its market value topping 3 trillion yuan (US$443 billion).
This flood of capital lays bare an emerging shift in China’s equity investment landscape: many of the newcomers actually represent the country’s old money – state-owned banks.
CXMT is China’s largest maker of dynamic random-access memory (DRAM) chips, competing...