Liao Min, the Deputy Minister of the Ministry of Finance, stated at the State Council Information Office press conference on the 12th of this month that as of the end of June 2024, the average core tier one capital adequacy ratio of the six large state-owned banks was 12.3%. The Ministry of Finance will adhere to the principles of marketization and legalization, follow the train of thought of coordinating progress, phased implementation, and tailored strategies, actively raise funds through channels such as issuing special national bonds, and steadily promote further increase in core tier one capital of large state-owned commercial banks. This work has been initiated and is awaiting capital replenishment plans from each bank. The specific capital replenishment plan will be disclosed in a timely and lawful manner in accordance with relevant regulations.

Liao Min stated that the overall operation of the six large state-owned commercial banks is stable. The Ministry of Finance believes it is necessary to support the further strengthening of the core tier one capital of large state-owned banks through appropriate means, and to enhance the banks' capabilities for sound operation. In accordance with the authorization of the State Council, the Ministry of Finance fulfills the responsibilities of the state-owned financial capital contributor, including establishing capital replenishment and dynamic adjustment mechanisms for state-owned financial institutions.