China plans to inject capital into six major commercial banks

China plans to increase the tier-1 capital of six major commercial banks, Xinhua quoted an official as saying Tuesday. Li Yunze, Head of the National Financial Regulatory Administration, told a press conference that the capital will be injected in an orderly manner, with coordinated advancement, phased implementation and tailored policies. The administration will continue to prompt the major commercial banks to enhance fine management and strengthen their ability to achieve high-quality development under capital constraints, Li said. Tier-1 capital refers to the core capital held in a bank's reserves, including common stock and disclosed reserves. Source: Emirates News Agency