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China plans to inject capital into six major commercial banks: official

Updated: Sep 25, 2024 Xinhua Print
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A clerk counts yuan bank notes and US dollar bills at a branch of the Industrial and Commercial Bank of China in Huaibei, East China's Anhui province. [Photo/IC]

BEIJING - China plans to increase the tier-1 capital of six major commercial banks, an official said Tuesday.

Li Yunze, head of the National Financial Regulatory Administration, told a press conference that the capital will be injected in an orderly manner, with coordinated advancement, phased implementation and tailored policies.

Tier-1 capital refers to the core capital held in a bank's reserves, including common stock and disclosed reserves.

The administration will continue to prompt the major commercial banks to enhance fine management and strengthen their ability to achieve high-quality development under capital constraints, Li said.

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