China is set to inject at least 400 billion yuan into Agricultural Bank of China (SHA:601288, HKG:1288), Bank of Communications (SHA:601328, HKG:3328), and Postal Savings Bank (SHA:601658, HKG:1658), as part of a broader plan to boost capital buffers at major state lenders, Bloomberg News reported Wednesday, citing people familiar with the information.
The funding injection into the country's largest banks could go up to as much as 1 trillion yuan in total, Bloomberg News said in a 2024 report.
The move, which is expected to be completed by June, marks Beijing's first major capital infusion since 2008, Bloomberg wrote.
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