On March 31st, state-owned banks made new progress in supplementing core tier one capital. On March 30th, Bank of China, China Construction Bank, Postal Savings Bank of China, and Bank of Communications collectively issued a notice on the plan to issue A-shares to specific targets. It is reported that the Ministry of Finance will subscribe to all newly issued shares of Bank of China and Construction Bank in cash, and take over 90% of the newly issued shares of Bank of Communications and Postal Savings Bank, with a total investment scale of 500 billion yuan. Industry insiders say that with the continuous release of capital injection efficiency by state-owned banks, China’s banking industry will inject financial vitality into the long-term high-quality development of the economy with stronger capital strength and better service quality and efficiency. (Securities Daily)
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