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China may inject capital into Agricultural Bank of China
By AMY CHEUNG
Published: September 04, 2006 12:00 AM
Agricultural Development Bank of China, one of the country's three policy banks, may get a capital injection from the Ministry of Finance, The Wall Street Journal reported. The Chinese government has been injecting capital to shore up major state-run commercial banks as part of its efforts to strengthen the banking sector. One of the next steps in those efforts will be cleaning up lending by policy banks, said the paper. The bank's loans, primarily to the rural sector, grew by 20.16 billion yuan (2.5 billion US dollars) in the first six months to 807.23 billion yuan (100.9 billion US dollars) by the end of June.
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