China's biggest state banks to raise $71.6 bln to boost capital

Four of China's largest state-owned banks said on Sunday they plan to raise a combined $71.6 billion in private contributions from investors, including the Ministry of Finance, after Beijing pledged to help them support the economy. The fundraising, which aims to increase banks' core Tier 1 capital, comes after Chinese authorities pledged earlier this month to recapitalize major state-owned banks to bolster their ability to boost the real econom…

China's manufacturing PMI at 50.5 in March

The purchasing managers' index (PMI) for China's manufacturing sector came in at 50.5 in March, official data showed on Monday.

China to issue 500-billion-yuan special treasury bonds to support state-owned banks

China to issue 500-billion-yuan special treasury bonds to support state-owned banks

China is pumping billions into its major banks: four state institutions receive fresh capital of 66 billion euros. The aim is to boost lending – in response to weak growth, real estate crisis and growing pressure from US tariffs.

Beijing announces $72 billion capital injection for China’s biggest banks

The NewsFour of China’s largest state-owned banks announced on Sunday a plan to raise a combined $72 billion, as Beijing ramps up its efforts to resuscitate the economy.The fundraising, which will be done through share sales to investors, represents a rare government-directed injection of capital; the finance ministry will be a major investor in the push.The capital increase is aimed at bolstering lending, which in turn could prop up the country…

Beijing plans to restructure state-owned EV players

Cici Cao China's state asset regulator said it plans to restructure state-owned automakers, the latest efforts by Beijing to tackle intensifying competition in the country's electric vehicle sector. Speaking at the China EV100 Forum in Beijing, Gou Ping, vice chairman of the State-owned Assets...