China to inject $54bn into banks, insurers to support stock market amid growth fears

Beijing is preparing a $54bn capital injection into its financial sector, targeting banks and insurers to bolster stock-market investment and replenish reserves. The move, funded by state institutions including the finance ministry and the tobacco monopoly, signals heightened official concern over sluggish growth. It is an extension of prior state-led support measures, with the scale and timing of disbursement still uncertain.