2 February 2026 | 1:02PM HKT Equity Research CHINA BANKS Assessing the potential impact of reported government capital injections for ICBC & ABC According to Bloomberg News, the Ministry of Finance (MoF) may issue bonds to insurance companies (Rmb 200bn) and inject capital (Rmb 300bn) into two large SOE banks, ICBC and ABC. In 2025, the MoF recapitalized 4 large banks (CCB Rmb 105bn, BOC Rmb 165bn, PSBC Rmb 130bn, BoCom Rmb 120bn, see here) by issuing Rmb 500bn of special treasury bonds (beyond Rmb 8/12bn f ...

All three named companies mentioned in the article are majority-owned by the Ministry of Finance, suggesting that recapitalization could be aimed at centrally controlled insurance companies, similar to 2024's capital injection into SOE banks. For illustrative purposes, below we examine the financial standings of the 3 insurers named in the article. 2 February 2026 | 1:02PM HKT Equity Research China Insurance: Addressing key questions around a potential capital injection On Friday (Jan 30), Bloomberg reporte ...

China is mulling the sale of hundreds of billions of yuan in special government bonds to recapitalize some of its largest insurers, according to people familiar with the matter, strengthening the biggest players in a sector that is under pressure to consolidate.The sale would raise about 200 billion yuan ($29 billion) to help recapitalize the insurers, said one of the people, declining to be identified as the matter is private. The proceeds will be injected into state-controlled firms including China Life I ...

Core Insights - Worldline plans to raise 500 million euros ($583 million) as part of a capital injection to recover from setbacks and restore investor confidence [1] Company Summary - The French payments firm, Worldline, is seeking to recover from years of setbacks [1] - The capital injection aims to enhance investor confidence in the company [1]