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big four closer to state bailout
The central government is close to announcing a package to recapitalise the Big Four state-owned commercial banks.
Bank of China, the nation's second-largest lender by assets, will get a US$20 billion government bailout as soon as next week, an executive at the bank said, according to Bloomberg.
The bailout would help the practically insolvent Big Four - Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China - meet stock listing requirements.
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