Banks told to refinance

Profits should be used to replenish their capital bases first, says CSRC

BEIJING - China's securities regulator yesterday said that it hopes the big banks choose to use their profits to replenish their capital base first.

"The big banks should use their profits first for refinancing," Zhu Congjiu, assistant to chairman of the China Securities Regulatory Commission (CSRC) said at a news conference in Beijing.