证券时报·2025-05-24 09:20Core Viewpoint - The article discusses the approval of A-share stock issuance by major Chinese banks, specifically Bank of China, Bank of Communications, and Postal Savings Bank, to raise capital for enhancing their core tier one capital levels [1][5]. Group 1: Stock Issuance Details - On May 23, the China Securities Regulatory Commission approved the application for A-share stock issuance by Bank of Communications [1][3]. - The total fundraising amounts for the three banks are capped at RMB 165 billion for Bank of China, RMB 120 billion for Bank of Communications, and RMB 130 billion for Postal Savings Bank [5]. - The issuance targets include the Ministry of Finance and other entities, with specific subscription amounts detailed for each bank [5][6]. Group 2: Capital Enhancement Purpose - The funds raised will be used exclusively to supplement core tier one capital after deducting issuance costs [7]. - The government plans to issue special treasury bonds worth RMB 500 billion to support state-owned commercial banks in capital replenishment [7][10]. - The core tier one capital is crucial for banks' operations and risk management, and the government aims to enhance banks' ability to serve the real economy [10][11]. Group 3: Capital Adequacy Ratios - As of the end of 2024, the core tier one capital adequacy ratios for major state-owned banks have improved, with China Construction Bank showing the highest increase of 0.47 percentage points to 14.48% [8][9]. - Post-issuance, the core tier one capital adequacy ratios for Bank of Communications and Postal Savings Bank are projected to rise by 1.28 percentage points and 1.51 percentage points, respectively, reaching 11.52% and 11.07% [9]. Group 4: Market Impact and Future Outlook - The capital injection is expected to enhance the market competitiveness and operational management of the four major state-owned banks, supporting stable growth in their performance [11]. - The state-owned banks are viewed as a stabilizing force in the financial system, and the capital increase will bolster their credit issuance capabilities, thereby reinforcing their role in supporting the real economy [11].