Chinese banks will raise as much as Rmb500bn ($73bn) from capital markets next year to boost their core capital in the wake of this year's lending boom, a senior official at the Chinese banking regulator has said.
Li Fuan, acting director- general of one of the China Banking Regulatory Commission's departments, said China's listed banks were likely to issue Rmb300bn-400bn in equity or bonds in 2010 to boost their financial strength.
In addition, Agricultural Bank of China would raise Rmb100-200bn from its initial public offering which ìs expected next year, Mr Li said in a speech.
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