China's central Huijin Investment corporation, the largest shareholder of China's state-owned banks, will soon issue more than 180 billion yuan of bonds in the domestic market.
China's central bank has already approved the sale of the medium and long term bonds. That will allow Huijin to inject capital to 2 policy-oriented financial institutions, China Export and Import Bank, and China Export and Credit Insurance Corporation. It also plans to refinance three of China's big four banks, Industrial and Commercial Bank of China, Bank of China, and China Construction Bank.
The first batch of bonds are expected to be issued on August 24th, in the form of 26 billion yuan in 7-year bonds, and 28 billion yuan in 20-year bonds. It's the first time Huijin has raised money through bonds.