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China Minsheng Banking to issue up to 30B yuan of Tier 2 bonds

China Minsheng Banking Corp. Ltd. plans to issue up to 30 billion yuan worth of Tier 2 capital bonds.

The China Banking Regulatory Commission recently approved the bank's planned issuance, according to a June 9 release.

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

As of June 9, US$1 was equivalent to 6.80 Chinese yuan.