China’s Ministry of Finance said Monday it will issue 300 billion yuan (about 44.25 billion U.S. dollars) in special treasury bonds to support eight state-owned financial enterprises directly administered by the central government in replenishing their core Tier 1 capital.
The move it said is expected to further strengthen the institutions’ operational capacity, resilience to risks and ability to serve the real economy, providing stronger support for the country’s steady and sound economic growth, according to a circular issued by the ministry.
