China's 'big four' banks raise billions for Belt and Road deals
Cash raised is part of broader push by BOC to use onshore yuan capital for offshore investments
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Hong Kong
CHINA'S largest state-owned commercial banks are raising tens of billions of dollars to fund the country's Belt and Road investment push, according to people familiar with the matter, bolstering Beijing's ambitions as private capital pulls back.
The sources said that China Construction Bank Corp (CCB), the country's second biggest bank by assets, was raising at least 100 billion yuan (S$20.5 billion) for a fund to specifically finance Belt and Road investment.
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