China to start re-capitalizing banks with $55 billion, Bloomberg News reports By Reuters

China's Bank Capital Injection Plan: China is set to inject at least 400 billion yuan ($55.13 billion) into its major banks as part of a stimulus package aimed at reviving economic growth, with the first recipients being Agricultural Bank of China and Bank of Communications.

Challenges Facing Chinese Banks: The capital injection comes in response to challenges such as sluggish credit demand, low net interest margins, and a property sector crisis, marking the first recapitalization of Chinese banks since the global financial crisis.