China’s ‘big four’ banks raise billions for Belt and Road deals

HONG KONG: China’s largest state-owned commercial banks are raising tens of billions of dollars to fund the country’s Belt and Road investment push, according to people familiar with the matter, bolstering Beijing’s ambitions as private capital pulls back.

The people said China Construction Bank Corp (CCB) , the country’s second-biggest bank by assets, was raising at least 100 billion yuan (US$15bil) for a fund to specifically finance Belt and Road investment.