China’s Ministry of Finance has said that it is readying to issue the first batch of special treasury bonds worth up to Rmb500 billion $68.9 billion, to support the Bank of China BOC, China Construction Bank CCB, Bank of Communications BoCom, and the Postal Savings Bank of China, by replenishing their core Tier 1 capital.
The capital replenishment work will be carried out “steadily” and is in accordance with the decisions and arrangements of the Central Committee of the Chinese Communist Party and the State Council, announced in early March. The issuance of the bonds could potentially be completed by the end of June.
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