CHINA’S megabanks are planning at least 40 billion yuan (US$5.8bil or RM25.5bil) of bond sales, kicking off a major funding push to comply with global capital requirements by early 2025.

Industrial & Commercial Bank of China Ltd and its three closest rivals are planning to tap domestic debt markets to sell a new category of total loss-absorbing capacity (TLAC) bonds as soon as June, according to sources.