China Injects Billions into Major Banks and Insurers to Shore Up Economy
China is injecting billions of dollars into its largest banks, insurers, and financial sector via state institutions and the ministry of finance to shore up balance sheets and sustain growth amid an economic slowdown.
- China injects billions of capital into top banks and insurers.
- Move aims to sustain growth in a slowing economy.
- China is injecting $54bn (£40bn) into its financial sector.
- Capital is being provided by state institutions including the ministry of finance.