Faltering confidence in the Chinese economy could threaten the plans of the country's banks to shore up capital reserves, the head of China Construction Bank, has warned.
Most of China's big banks have announced vast capital-raisings plans. On top of the projected $22bn initial public offering of Agriculture Bank of China, announced last week, CCB and Industrial and Commercial Bank of China are between them raising up to $21bn in fresh capital.
The moves follow a directive from China's banking regulator to increase their core tier one capital to more than 9 per cent – higher than the norm in much of the rest of the world – following a vast expansion of lending last year.
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