China’s State-Owned Banks Plan Massive Fundraising
Four major Chinese state-owned banks aim to raise a combined 520,000 million yuan (71.6 billion USD) through private placements of investors. This move comes after Beijing pledged support to help sustain the economy. The fundraising, intended to boost the banks’ Tier 1 capital base, follows Chinese authorities’ earlier promise this month to recapitalize top state-owned ...