China to issue Rmb500bn of special treasury bonds to support Tier 1 capital at four large banks

China’s Ministry of Finance has said that it is readying to issue the first batch of special treasury bonds worth up to Rmb500 billion ($68.9 billion), to support the Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BoCom), and the Postal Savings Bank of China, by replenishing their core Tier 1 capital.