A billion-dollar market in bank shares, both listed and unlisted, has sprung up on online auction sites in China, leading to concerns over how the rapidly growing list of transactions are priced and regulated.
China’s supreme court gave permission to five online auction platforms to host the sales of assets seized by local courts, including shares, starting in late 2016.
Since then auctions for bank shares have exploded on sites such as Taobao, Alibaba’s eBay-like online shopping site. JD.com, another ecommerce site, also hosts the auctions.
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