China’s top state banks to raise $71.6 bn in capital boost backed by Beijing

China’s top state banks to raise $71.6 bn in capital boost backed by Beijing

The recapitalisation effort, aimed at strengthening the banks’ core tier-1 capital, follows a pledge from Chinese policymakers earlier this month to inject 500 billion yuan into major lenders to enhance their capacity to support the real economy

Chinese flags are seen on buildings in the Huangpu district in Shanghai. File image/AFP