China Pours $54 Billion Into Banks and Insurers to Counter Sluggish Growth

China will inject $54 billion into its financial sector, funded by state bodies including the Ministry of Finance and China National Tobacco Corp. Three state banks will receive 290 billion yuan; three insurers, 57 billion yuan. Proceeds are earmarked for credit expansion and stock-market investment as growth falters. The plan was first announced at China's parliamentary session in March 2026.