China to inject $54 billion into state banks and insurers
China’s finance ministry will lead a coordinated $54 billion capital injection into state-owned insurers and banks to bolster capital across the financial system, the companies said.
China's finance ministry will lead a combined $54 billion capital injection into state-owned insurers and banks, the companies said on Sunday, in a coordinated push by Beijing to shore up capital across its financial system. China Life Insurance (Group) Co, the country's largest life insurer, will receive part of the support.