China to pump $54bn into state banks and insurers to boost economy
- 4 hours agoPeter HoskinsBusiness reporterGetty ImagesChina is pumping tens of billions of dollars into eight state-owned banks and insurance companies to help shore up the country's financial system and boost its slowing economy.
- The cash injection, which is being led by China's finance ministry, will total 360 billion yuan ($53.6bn; £39.7bn), state news agency Xinhua said on Sunday.
- The outlet said the move "will help further enhance their sound operating capabilities, risk resistance capabilities, and ability to serve the real economy".
Unverified
- 4 hours agoPeter HoskinsBusiness reporterGetty ImagesChina is pumping tens of billions of dollars into eight state-owned banks and insurance companies to help shore up the country's financial system and boost its slowing economy.
- The cash injection, which is being led by China's finance ministry, will total 360 billion yuan ($53.6bn; £39.7bn), state news agency Xinhua said on Sunday.
- The outlet said the move "will help further enhance their sound operating capabilities, risk resistance capabilities, and ability to serve the real economy".
Sources: BBC News