News with the tag "BOCOM"

China plans to start re-capitalizing some of its biggest banks in the coming months. The government wants to give the first group of banks, which includes Agricultural Bank of China Ltd. (ABC) and Bank of Communications Co. (BOCOM), at least 400 billion yuan ($55 billion) in new capital. According t...

China is on the verge of injecting nearly $142.4B (1 trillion yuan) to increase its biggest state bank’s capacity to support its nose-diving economy and slow markets. Sources confirmed that Beijing planned to issue new sovereign bonds to fund the largest Chinese government bailout since the 2008 glo...