China Says It Will Pump $54 Billion Into Banks and Insurers, But Their Stocks Still Fell
China’s Ministry of Finance rolled out one of its most significant financial sector interventions of the year over the weekend, announcing a coordinated 360 billion yuan capital injection, roughly $54 billion, into eight of the country’s largest state-owned banks and insurers. Rather than steadying investor sentiment the way the government likely hoped, the news actually … Read more