Who are refinancing?
Bank of Communications (no more than 42 billion yuan)
Bank of China (no more than 40 billion yuan)
China Merchants Bank (18-22 billion yuan)
Shenzhen Development Bank (10.7 billion yuan)
Bank of Ningbo (no more than 5 billion yuan)
Industrial Bank (18 billion yuan)
Bank of Nanjing (no more than 5 billion yuan)
China Citic Bank (no more than 25 billion yuan)

Related Articles:
China Merchants Bank Launches $3.2 bln Rights Issue
BoCom to Raise Up To $6.1b in Shanghai, Hong Kong Share Sale
Pudong Bank Talks Stake Deal

Why are they refinancing?
-Chinese banks have been facing capital problems after last year's massive lending spree triggered credit risk concerns.

-The China Banking Regulatory Commission said earlier that it would limit the pace at which the banks expand their assets if they cannot meet the stipulated capital adequacy requirements.

Schemes banks could employ to refinance their capital/Pros vs. Cons

Ways Encouraged by China's Securities Watchdog: Banks Use Their Own Profit to Replenish Their Capital

"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 on March 7, 2010 in Beijing.

Refinance via the Stock Markets(Likely to cause investors' worry over liquidity drain)
Public Rights Issue

Refinance via Other Means(Less Likely to cause investors' worry over liquidity drain)
Using Profits
Issuing of Subordinated and Convertible Corporate Bonds
Private Placements of Additional Shares


Related Articles:
Securities Watchdog Proposes Refinancing Schemes for Banks
Expert Urges Rational Perspective on Refinancing Wave
Pudong Bank Talks Stake Deal
Banks Told to Refinance

Possible outcome of the Refinancing wave
Related Articles: Expert Urges Rational Perspective on Refinancing Wave

Voices

Dong Wenbiao, chairman of China Minsheng Banking Corp, revealed that his bank has no refinancing plan currently on the sidelines of the ongoing NPC&CPPCC annual sessions.

"I once told my employees that we should not even to think about refinancing at the moment. Even a flash of thought on the subject is shameful. How can we propose an idea like that?" -- Dong commented in an interview with Guangzhou Daily on March 5, 2010

An anonymous individual investor, commenting on the ongoing refinancing wave of listed banks.

"They are like robbers. Refinancing capital via profits is the least thing they will do. Whenever they are short of cash, they come to the stock market to grab fresh capitals."

Qin Xiao, Chairman of China Merchants Bank, talked about his bank's refinancing plan. China Merchants Bank currently plans to raise 22 billion yuan (US$3.2 billion) via a rights issue.

"The purpose of refinancing of China Merchants Bank is to facilitate future expansion rather than tackle toxic assets."

Vice Premier Wang Qishan commented banks' refinancing wave in a meeting on the sidelines of the ongoing NPC&CPPCC annual sessions.

"State-owned banks should take strengthening their positions as the top priority, rather than blindly expand their business. The market cannot afford so many banks' refinancing plans."