Founder BEA Trust Co., Ltd. is a Chinese

trust company A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trust ...

, formerly known as Wuhan International Trust and Investment Corporation (WITIC; ). Founder BEA Trust was a subsidiary of

Founder Group Founder Group () is a major Chinese technology conglomerate that deals with information technology, pharmaceuticals, real estate, finance, and commodities trading. It is divided into five major industry groups, each covering a separate industr ...

for 70.01% stake, with

Bank of East Asia The Bank of East Asia Limited, often abbreviated to BEA, is a Hong Kong public banking and financial services company headquartered in Central, Hong Kong, Central, Hong Kong. It is currently the largest independent local Hong Kong bank, and o ...

owned 19.99%. The third largest shareholder was

Wuhan Financial Holdings Group Wuhan; is the capital of Hubei, China. With a population of over eleven million, it is the most populous city in Hubei and the List of cities in China by population, eighth-most-populous city in China. It is also one of the nine National cent ...

, a company owned by , for 10% stake. However, in 2016 Wuhan Financial Holdings Group acquired 57.51% stake from Founder Group. An additional 12.5% stake sold by Founder Group to their associate company China Hi-Tech Group () was still pending the approval from

China Banking Regulatory Commission The China Banking Regulatory Commission (CBRC) was an agency of the People's Republic of China (PRC) authorised by the State Council of the People's Republic of China, State Council to regulate the Chinese banking sector, banking sector of the P ...

, according to the third quarterly report of China Hi-Tech Group in 2016.

Location

WITIC survived the crash of Guangdong International Trust and Investment Corp. (GITIC) in 1998

References

External links

* Companies based in Wuhan Financial services companies of China Companies owned by provincial governments of China Bank of East Asia Peking University Government-owned companies of China {{PRChina-company-stub