Nod for US$4b bond sale

A man passes by a Bank of Communications branch in Yulin, Shaanxi Province. China's fifth-largest lender by market value has won regulatory approval to sell as much as 26 billion yuan (US$4 billion) of subordinated bonds to bolster its capital. The sale was approved by the China Banking Regulatory Commission and the People's Bank of China, and is part of the lender's plan to raise as much as 80 billion yuan in China by the end of this year, the bank said.

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