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China Minsheng Banking to issue up to 40B yuan of Tier 2 bonds

China Minsheng Banking Corp. Ltd. received approval from the China Banking and Insurance Regulatory Commission to issue up to 40 billion yuan of Tier 2 capital bonds.

The planned issuance is still subject to the approval of the People's Bank of China.

As of Dec. 28, US$1 was equivalent to 6.88 Chinese yuan.