CITIC Bank to Issue Debt

China CITIC Bank will issue debt to replenish capital, the chairman of the bank's parent company, CITIC Group, said.

Kong Dan, head of CITIC Group, said on March 8 that the size of the debt has not been decided and more details are under discussion. On February 8, CITIC Bank's shareholders approved a plan to issue 25 billion yuan worth of 15-year subordinated or mixed debt.