China Banks Issue Over 1.6 Trillion Yuan in Tier-2 and Perpetual Bonds, Up 29.53% YoY

The divergence in capital replenishment is the real signal here: large and mid-sized banks can tap the bond market at scale, while smaller lenders are pushed toward capital increases and share placements — a slower, more dilutive route. That split matters for how balance-sheet capacity is distributed across the banking system, and by extension for credit extension and risk absorption at the smaller end. Whether that gap continues to widen is the open question.