Yawn.
China plans to start re-capitalizing three of its biggest banks in coming months, according to people familiar with the matter, following through on a broad stimulus package unveiled last year to shore up the struggling economy.
Authorities are looking to inject at least 400 billion yuan ($55 billion) of fresh capital into the first batch of Agricultural Bank of China Ltd., Bank of Communications Co. and Postal Savings Bank of China Co., said the people, asking not to be identified discussing private information. The plan, which could be completed as soon as the end of June, is subject to change and the amount for each bank is still being finalized, said the people.
