China plans $54 billion capital boost for state banks and insurers

China's finance ministry is leading a 360 billion yuan ($53.6 billion) capital injection into several stateowned banks and insurers, as Beijing tries to support growth while keeping stimulus restrained. The package includes funding for three state lenders and five insurers, and marks the first time insurers have been included in this kind of recapitalization. The move was smaller than markets expected, which helped push Hong Konglisted bank and insurance shares lower on Monday. Agricultural Bank of China, ICBC, China Life Insurance, China Taiping Insurance, and People's Insurance all declined, while the broader Hang Seng Index fell less than 1%. Officials and analysts said the injections should strengthen balance sheets and give lenders more room to manage risks, including nonperforming loans. But they also noted that weak credit demand remains a major constraint, limiting the shortterm impact on the wider economy.