Agricultural Bank of China (ABC) will undergo a restructuring that reportedly will include a recapitalization of about US$20 billion from China’s sovereign wealth fund, the Financial Times reported. China approved the plan for the bank to become a shareholding bank as part of Beijing’s long-term plan, started about 10 years ago, to overhaul the country’s banking sector. A subsidiary of China Investment Corp, the sovereign wealth fund, will inject the money into the bank, the last of the country’s large banks to be restructured in preparation for an eventual stock market listing. ABC is known for loaning money in poor rural areas and has suffered from a higher bad loan ratio than other banks.