China's Finance Minister announces special treasury bonds to recapitalize major state-owned banks.

China's Finance Minister, Lan Fo'an, announced the issuance of special treasury bonds to bolster the core tier-1 capital of major state-owned banks. This initiative aims to enhance the banks' financial stability, improve risk management, and increase lending capacity to support the domestic economy. It marks the first recapitalization of these banks in over ten years, responding to challenges like low margins and rising bad loans.

October 12, 2024
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