China May Inject 40 billion Dollars Into Agricultural Bank – People’s Daily Online

From People’s Daily Online:

Central Huijin , China’s state-owned investment company, plans to inject 40 billion U.S. dollars into the Agricultural Bank of China (ABC) , the only one of the big four state-owned commercial banks that remains unlisted, the Economic Observer newspaper reported.

The injection would mark a major step in ABC’s shareholding reform. It would raise ABC’s capital adequacy ratio to eight percent, the required ratio for commercial banks in China. The shareholding reform of the ABC, which began in February this year, is the last and the toughest piece of the move to overhaul the country’s state-owned banks started in 2003. [Full Text]

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