China's central bank to inject $48 billion into China Dev Bank: sources

HONG KONG/BEIJING (Reuters) - China's central bank will inject $48 billion into the country's biggest policy lender, China Development Bank Corp (CDB)[CHDB.UL], two sources with direct knowledge of the matter told Reuters on Friday.

The central bank's capital injection will take place via a debt-to-equity swap, using entrusted foreign reserve loans, the sources said.

A wholly-owned subsidiary of the State Administration of Foreign Exchange will hold the central bank's stake in CDB, they added.

When contacted by Reuters, the central bank, foreign exchange regulator and CDB, declined to immediately comment.

(Reporting by Bi Xiaowen in Hong Kong and Li He in Beijing; Writing by Shu Zhang; Editing by Jacqueline Wong)

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