State-backed banks are also starved for capital, after an aggressive lending spree that was encouraged by the government. In the last year, seven of the biggest Chinese banks tapped the markets for 323.8 billion renminbi ($51.4 billion) in new money, according to Citigroup estimates. Several financial firms are expected to raise another $17.7 billion in the next few months, with China’s fifth-biggest lender, the Bank of Communications, accounting for $9 billion.