China injects $53.6B into state banks, insurers to bolster capital

China's Ministry of Finance is injecting 360 billion yuan ($53.6B) into at least eight major banks and insurers, with the state providing over 80% of the capital. The move aims to strengthen balance sheets eroded by forced cheap lending to support growth, signaling fiscal support for the financial system amid economic slowdown. The injection is a direct state intervention to sustain credit expansion, with implications for bank profitability and systemic stability.