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Central Huijin Investment Co, the domestic arm of China Investment Corp, will inject 88 billion yuan in the Export-Import Bank of China and China Export and Credit Insurance Corp (Sinosure), the Shanghai Securities News reported today, citing an unidentified person.
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Huijin may use the rest of the funds to invest in rights offering plans of?China's three largest banks, including Industrial and Commercial bank of China, China Construction Bank and Bank of China.
The three banks announced plans to raise as much as 180 billion yuan through rights offers this year. Huijin will invest about 100 billion yuan if it fully participates in the lenders' rights issues, according to the report.