Breakingviews - China hands banks poor stimulus consolation prize

Chinese State-Owned Banks' Challenges: Executives at China's major state-owned banks face difficulties as they manage rising bad loans and declining earnings, despite government plans to inject capital and ease lending rules.

Government Support Measures: The Chinese government is expected to issue special bonds to bolster the core Tier 1 capital of its largest banks, with a potential recapitalization amounting to 1 trillion yuan, which would only cover two years of dividends for these institutions.