China plans to inject capital into six major commercial banks: official

BEIJING, Sept. 24 (Xinhua) — China plans to increase the tier-1 capital of six major commercial banks, an official said Tuesday.
Li Yunze, head of the National Financial Regulatory Administration, told a press conference that the capital will be injected in an orderly manner, with coordinated advancement, phased implementation and tailored policies.
Tier-1 capital refers to the core capital held in a bank’s reserves, including common stock and disclosed reserves.
The administration will continue to prompt the major commercial banks to enhance fine management and strengthen their ability to achieve high-quality development under capital constraints, Li said. ■