People’s Bank of China now holds 1.1% of HDFC

People’s Bank of China has entered the exclusive club of foreign portfolio investors (FPIs) with over 1% stake in HDFC as at March-end 2020 .
PBoC, which is China’s central bank, now owns 1.01 per cent (or 1,74,92,909 equity shares) in India’s largest standalone housing finance company. At closing price of Rs. 1,701, the value of PBoC’s shareholding in HDFC is Rs. 2,977 crore.
According to reports, Chinese financial institutions are picking up stakes in companies across the world. This comes at a time when majority of the countries are reeling under the impact of Covid-19 pandemic, which originated in China’s Wuhan province.