Last year, Huarong, now China CITIC Financial Asset Management (2799.HK), bought into Bank of China H-share, becoming a over 3% shareholder. And it took one non-executive board seat of Bank of China right after.
Great Wall AMC, became a over 3% sharehoder of Minsheng Bank and got 1 non-executive board seat.
Xinda, via purchasing convertible bonds, became a over 3% sharehoder of Shanghai Pudong Development Bank.
These shouldn’t be taken lightly, as banks are heavily regulated in China. So there were political decisions made.