China’s capital injection steels banks, insurers for rough road ahead

China announced a capital injection of around 360 billion yuan (US$54 billion) for eight of the largest state-owned banks and insurers amid government efforts to shore up the country’s financial system and boost economic growth. Three state banks said on Sunday they would receive a combined 290 billion yuan. Agricultural Bank of China (ABC) and Industrial and Commercial Bank of China (ICBC) will raise 160 billion yuan and 100 billion yuan respectively through private placements of new A-shares…

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