#eightchinesefinancialfirmsraise360byuan On September 5th, the Ministry of Finance of the People's Republic of China provided a total of 360 billion yuan in subsidies to eight state-owned financial enterprises: 100 billion yuan to ICBC, 160 billion yuan to ABC, 30 billion yuan to the Export-Import Bank of China, 10 billion yuan to China Export & Credit Insurance Corporation, 35 billion yuan to China Life Insurance, 15 billion yuan to PICC, 7 billion yuan to Taiping Insurance, and 3 billion yuan to China Reinsurance Corporation. The Ministry of Finance contributed 300 billion yuan, and the tobacco system added another 60 billion yuan. The official explanation is to replenish core tier-one capital, enhance risk resistance, and better serve the real economy. This 360 billion yuan injection from the Ministry of Finance also indicates that these state-owned financial enterprises are on the verge of collapse!$DODO $RAYSOL $ORCA