Agricultural Development Bank of China to get capital injection

April 23, 2015 9:15 AM

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SHANGHAI, April 23 (Reuters) - The Agricultural Development Bank of China, one of China's three major state-owned policy banks, will receive a capital injection from the Ministry of Finance, a senior Bank official told Reuters today.

The injection will take the form of tax rebates from previous years, in order to boost the bank's registered capital. Although the precise amount was not revealed, domestic Chinese media report that the amount will be roughly 150 billion yuan ($24.21 billion).

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