China’s government will inject US$30 billion into Agricultural Bank of China to help the lender prepare for an eventual listing, China’s Premiere Wen Jiabao told the Financial Times. Wen told the paper in an interview that the final decision had been made to put the money in the bank, which is the last of China’s big four state-owned lenders to be restructured. The paper cited an official traveling with Wen as saying that the recapitalization of the bank would happen "soon." The capital injection is higher than the US$20 billion that the bank was expected to receive, the paper said. The capital injection is part of a strategy to boost China’s rural economy as the export industry struggles due to declining global demand.
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