national finance monetary policy turned

At that time, boc have embarked on a scale expanding express. This year, with the domestic and international economic situation change sharply, to actively, loose, the supply of credit is in acceleration, the important year ahead.

2009 at the end of the first quarter, the bank capital adequacy ratio fell to 12.34%, compared with the end of 2008, down 1.09 percentage points. Boc aware of future capital will be large consumption, capital adequacy face red dangerous, added touch capital is imminent.

Seeing "blood" ischemia serious worsening ", who knows ". For bank between each holding subprime was common, banking system risk hard to disperse, 2009 in the middle of August, regulators to commercial Banks issued the "about perfect commercial bank capital complementary mechanism of notice (draft), request delimit bank capital adequacy bottom line, and core from attached capital said it will be fully deducted bank cross holdings of subprime debt. This will increase the bank through the issuance of the subprime added capital of difficulty.

Fortunately boc in early June 30, 2009 get regulatory approval, agrees that it in the national inter-bank bond market public issuance shall not exceed 400 billion yuan of subordinated bonds to raise funds to supplement all affiliated capital. Boc 2009 third quarter capital adequacy ratio from half the end of ascending to 11.63% 000 (inc.

But, mutatis mutandis, initially 12 billion yuan of subprime plan, the bank only achieved 1/3.

Emergency situation, 2009 the end of August, the bank of the relevant departments in extremely confidential case, began to capital supplementary way of research. 2009 early November, chairman XiaoGang leads a team visit malign, huijin and other major investors. At this time, the relevant aspects though support boc added capital, but poorer, lack of fund.

At thetime when A shares tumbled from years of 3478 high, but the capital needs urgent forced boc management must towards capital market. To the capital market financing trillion in "excellence" plan timely born.

Since then began to examine how the successful realization "excellence" plans a bank. Chongzhongzhi Related research scheme 40 version, discussed repeatedly financing ways as many as ten kinds, including directional seo, h-shares directional seo, issued some special capital tools.