China to inject 300 billion yuan into state banks, deepen reform of state financial firms
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China plans to inject 300 billion yuan (S$56 billion) into state-owned banks this year via a special treasury bond, as part of reforms to mitigate systemic financial risks. This initiative, announced during the National People's Congress, aims to bolster the financial system amid challenges like a property crisis and rising bad loans. The capital injection follows a previous US$72 billion recapitalization and includes measures to regulate competition among financial institutions and enhance market access for long-term investments.
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