Regional city lenders draw up public float plans

Surge in non-performing loans increases capital pressure for local banks, say industry sources

Eight of the country's largest regional city commercial banks have submitted initial public offering applications since June 2014, according to the China Securities Regulatory Commission.

Among them, Harbin Bank Co Ltd - which is already listed on the Hong Kong Stock Exchange - plans to issue 3.67 billion new A shares, which would represent nearly a quarter of its total shares in circulation.