Topic: #capital-markets

  • Editorial illustration: A stack of dried tobacco leaves sits on a red pedestal connected by branching gold channels carrying gold bars toward two miniature classical bank buildings.

    China tobacco monopoly injects CNY 60 billion into ICBC, ABC

    China National Tobacco Corporation is investing CNY 60 billion into Industrial and Commercial Bank of China and Agricultural Bank of China as part of a CNY 260 billion capital raise announced September 6, underscoring Beijing's reliance on profitable state monopolies to shore up financial institutions.

    By Khal · macrochinabanking