Published:
Chinese banks to get liquidity boost
A fiscal funding will soon provide additional capital for China's cash-strapped banks.
According to China International Capital Co., Ltd., the country's top investment bank,more than 1 trillion yuan or about 158.2 billion U.S. dollars of treasury deposits are expected to be allocated by the Ministry of Finance to government departments in November and December.
China allocated 700 billion yuan of deficit in the 2011 Budget adopted in March this year.
As the massive fiscal funding was made near the year-end in the past years, CICC predicts the country's banks will boost their capital strength by 1.2 trillion yuan.
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