China injects 360 billion yuan into 8 financial institutions to strengthen financial system

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Eight of China's major financial institutions, including the Industrial and Commercial Bank of China (ICBC), announced capital injection plans on Sunday (Sept. 6) to strengthen their Core Tier 1 capital (CET1), which will help raise a total of up to 360 billion yuan (about 1.77 trillion baht). The Agricultural Bank of China (ABC) and ICBC plan to raise a combined total of up to 260 billion yuan (about 1.28 trillion baht) through targeted A-share placements. ABC will offer shares to China's Ministry of Finance, China National Tobacco Corporation, and its affiliates, with a maximum fundraising of 160 billion yuan (about 786 billion baht). Meanwhile, ICBC will separately raise up to 100 billion yuan (about 490 billion baht) from the same group of investors. All funds will be used to increase Core Tier 1 capital. In addition, the Export-Import Bank of China (CEXIM) will receive a capital injection of 30 billion yuan (about 148 billion baht) from the Ministry of Finance, and China Export & Credit Insurance Corporation (Sinosure) will receive 10 billion yuan (about 49 billion baht). The Ministry of Finance also plans to inject capital into four other major insurance companies. This capital increase follows the Ministry of Finance's announcement in August that it would issue special government bonds worth 300 billion yuan (about 1.47 trillion baht) to strengthen the capital base of state-owned financial institutions. Yu Xiang from CITIC Securities noted that this move is to strengthen the capital base to support the real economy and enhance risk-bearing capacity throughout the 15th Five-Year Plan period (2026-2030). The scope of this year's measures has expanded to cover policy-oriented financial institutions and state-owned insurance companies, unlike last year when the Ministry of Finance issued special government bonds worth 500 billion yuan (about 2.45 trillion baht) to major state-owned commercial banks.

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China Export & Credit Insurance CorporationPrivate▲ Positive
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Sinosure will receive a 10 billion yuan capital injection from China's Ministry of Finance.

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