The most obvious means of recapitalizing China’s banks would be to inject renminbi-denominated government debt into the banking sector. But China’s total public debt, including off-balance-sheet local-government financing vehicles, probably amounts to around 70% of GDP already.
Mais ces efforts pourraient déclencher une crise financière, ce qui nécessite que la Chine lance une recapitalisation majeure du système bancaire.