Bank Backed By China Construction Equipment Billionaire Opens Doors

Hunan Sanxiang Bank, backed by China construction equipment billionaire Liang Wengen, opened its doors today in Changsha. Liang's main holding company Sany Group and a subsidiary of Shanghai-listed Sany Heavy Industry will own a combined 30% stake in the bank after investing a total of $132 million. Liang Zaizhong, Liang Wengen's