--China plans to inject at least 400 billion yuan, equivalent to $55 billion, into some of its biggest banks in coming months, as part of a wider plan to stimulate the economy, Bloomberg reports, citing unnamed sources.
--The first batch of banks includes Agricultural Bank of China and Bank of Communications, sources told Bloomberg.
--The plans for the capital injection could be completed as soon as the end of June, with the amount for each bank yet to be finalized, Bloomberg reports.
--China's finance ministry, the National Financial Regulatory Administration, Agricultural Bank and Bank of Communications did not immediately respond to Bloomberg's requests for comment.
Full story: https://www.bloomberg.com/news/articles/2025-02-26/china-plans-to-start-bank-capital-hike-with-at-least-55-billion
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(END) Dow Jones Newswires
February 26, 2025 02:57 ET (07:57 GMT)
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