China’s banking authority has green-lit a new bond issue by one of the country’s big three policy lenders to shore up its capital levels.
On 25 June the China Banking and Insurance Regulatory Commission (CBIRC) approved an issue of up to 60 billion yuan in open-ended capital bonds by Exim Bank of China.
Under the approval Exim will use funds raised by the issue to supplement its tier-1 capital.
