SHANGHAI: To see how little investors love China’s small banks, look no further than the nation’s largest online auction site.
On Alibaba Group Holding Ltd’s Taobao platform, a Chinese court tried to auction off 1.5 million shares of a rural bank in the eastern Zhejiang province for a starting price of 1.15 million yuan (US$161,000) – about half their appraised value. After three failed attempts over two months, the latest re-listing drew only about a thousand views. And not a single bid.
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