Chinese investors including the country's sovereign wealth fund may inject $13 billion into Spanish banks, a government source said on Wednesday after Spain's premier met financial authorities in Beijing. Concerns about delays in recapitalising Spain's ailing savings banks -- heavily exposed to bad loans from a burst property bubble -- have overshadowed the euro zone state's efforts to convince markets it is in no danger of needing a bailout. According to official estimates, the banks need about 15 billion euros in fresh funding to meet strict new financial targets. But private estimates go as high as 100 billion euros when taking into account future losses related to real estate writedowns. Spanish Prime Minister Jose Luis Rodriguez Zapatero is visiting China and Singapore this week, meeting with officials and fund managers to persuade them that Spain's sovereign bonds and its financial system are a good investment.
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