China Boosts Banks, Insurers with $54 Billion Injection
China's finance ministry has injected $54 billion into state banks and insurers, including 360 billion yuan ($54 billion) into insurers and 290 billion yuan ($43 billion) into Agricultural Bank of China (ABC) and Industrial and Commercial Bank of China (ICBC) alone. This capital-boosting push is aimed at reviving the economy and turning China into a 'financial superpower'.23 sourcesSee all sources