{"id":2204,"date":"2024-10-01T22:33:09","date_gmt":"2024-10-01T14:33:09","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=2204"},"modified":"2024-10-01T22:33:09","modified_gmt":"2024-10-01T14:33:09","slug":"%e4%b8%ad%e5%9b%bd%e6%8b%9f%e5%90%91%e5%9b%bd%e6%9c%89%e9%87%91%e8%9e%8d%e6%9c%ba%e6%9e%84%e6%b3%a8%e5%85%a5%e5%8d%83%e4%ba%bf%e5%85%83%e8%b5%84%e9%87%91%e4%bb%a5%e6%8f%90%e6%8c%af%e7%bb%8f%e6%b5%8e","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=2204","title":{"rendered":"\u4e2d\u56fd\u62df\u5411\u56fd\u6709\u91d1\u878d\u673a\u6784\u6ce8\u5165\u5343\u4ebf\u5143\u8d44\u91d1\u4ee5\u63d0\u632f\u7ecf\u6d4e"},"content":{"rendered":"

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\u65b0\u95fb\u6765\u6e90\uff1a<\/b>www.bloomberg.com
\u539f\u6587\u5730\u5740\uff1a<\/b>China Weighs $142 Billion Capital Injection Into State Banks to Support Economy<\/a>
\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2024-09-26
\u539f\u6587\u6458\u8981\uff1a<\/b><\/font><\/p>\n

China is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the struggling economy, according to people familiar with the matter.The funding will mainly come from the issuance of new special sovereign bonds, said the people, asking not to be identified discussing a private matter. The details have yet to be finalized and are subject to change, the people added. Such a move would be the first time since the global financial crisis in 2008 that Beijing has injected capital into its big banks. China is rushing to replenish its banks \u2014 even though the top six have capital levels that far exceed requirements \u2014 after unveiling broad reductions to mortgage rates and slashing key policy rates to revive the economy. Enlisted to support the economy over the past years, lenders such as  and  are now battling record low margins, sinking profits and rising bad debt., the nation\u2019s top banking regulator, said earlier this week at a press conference in Beijing that authorities would act to boost core tier 1 capital at its six major commercial banks, without elaborating. The National Financial Regulatory Administration didn\u2019t respond to a request for comment.\u201cThis is a different type of stimulus,\u201d said , chief economist at Grow Investment Group. \u201cIf done through special bond issuance it\u2019s a fiscal stimulus and can stabilize the banks as property prices continue to decline. It will ensure that the banks lending capability won\u2019t be affected.\u201dChina\u2019s mega banks have been under growing pressure from regulators to shore up the struggling economy by offering cheaper loans to risky borrowers \u2014 from real estate developers and home owners to cash-strapped local government financing vehicles. Most recently, some of the lenders heeded government calls to pay their first ever interim dividends to support the stock market even as profit growth and margins are sliding. ICBC erased losses after this article was published, trading little changed in Hong Kong as of 2:14 pm. Bank of China gained 1.1%. Funding now is favorable for the government. In May, China kicked off another planned issuance of 1 trillion yuan in ultra-long special sovereign bonds, targeting to wrap up the sales in mid November. The latest auction saw a 30-year bond sold at an average yield of 2.19%, a record low based on Bloomberg data on past issuances of the tenor that dates back to 2007.Combined profits at China\u2019s commercial lenders rose just 0.4% in the first half, the slowest pace since 2020. Meanwhile, the sector\u2019s net interest margins have continued to shrink, hitting a record low of 1.54% at the end of June, well below the 1.8% threshold regarded as necessary to maintain reasonable profitability. Higher dividend distribution also threatens to erode capital buffers at the systemically important banks, which face  capital requirements under the so-called total loss-absorbing capacity mechanism imposed globally. The six largest banks \u2014 which also include , , , and Postal Savings Bank of China Co. \u2014 have primarily relied on retained profits to increase capital buffers.Their average core tier 1 capital adequacy ratio has fallen slightly to 11.77% at the end of June, but remains above the 8.5% level required for China\u2019s systemically important banks.\u201dIn theory, the big banks don\u2019t need more capital to sustain operations unless they will be asked to take more credit risk,\u201d said Francis Chan, a senior analyst at Bloomberg Intelligence. \u201cIn this case, 1 trillion RMB will be more or less for that purpose.\u201dIt wouldn\u2019t be the first time Beijing has stepped in to support its banks, most of which are still majority-owned by the state. China first bailed out its big four banks in the late 1990s when their non-performing loan ratio surged to about 40%. At the time, policymakers sold special bonds to raise capital and set up state-run bad banks to buy 1.4 trillion yuan of soured loans at face value. The effort was largely a success, setting the stage for more than a decade of breakneck growth that turned China into the world\u2019s second-largest economy and helped many of its biggest companies tap into global capital markets.The government also injected $60 billion of foreign reserves in early 2000s to recapitalize ICBC, Bank of China, and China Construction, which buckling under non-performing loans after decades of government-directed lending to unprofitable state-owned companies. In 2008, Agricultural Bank received about $19 billion in a bailout, capping a decade long overhaul of the banking industry.<\/pre>\n
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