Policy banks get $90b cash infusion

China's foreign exchange reserve injected more than $90 billion into the country's development and policy banks in July, strengthening supports on overseas investments and domestic construction projects, a central bank official said on Tuesday.

The Sycamore Tree Investment Platform, a company owned by the foreign exchange reserve regulator – the State Administration of Foreign Exchange, injected $48 billion into China Development Bank (CDB) on July 15 and provide $45 billion to the Export-Import Bank of China on July 20.

As the official said, capital raising is a curtail part during the massive reform process for the three major development and policy banks, and the other one is the Agricultural Development Bank of China.