SHANGHAI - Major Chinese banks will see capital shortfalls of 400 billion-500 billion yuan ($63 billion-$78 billion) in the next five years due to the enhanced requirements of the Basel III guidelines, Wu Xiaoling, a former deputy head of the Chinese central bank, said in remarks published on Monday, according to Reuters.

"Along with a quick expansion of domestic loans, banks will generally face relatively heavy pressure on ordinary capital," Wu, now a lawmaker, was quoted by China Securities Journal as telling a forum over the weekend.

But Wu said that Chinese banks had no capital problems for the time being, with capital adequacy ratios of around 12 percent and core capital adequacy ratios of around 9 percent, the Shanghai Securities News reported.

Large-scale fund-raising by Chinese banks driven by regulators raising capital requirements partly because of Basel III has been one of the major factors depressing the Chinese stock market since last year.

The benchmark Shanghai Composite Index has dropped 10 percent so far this year, after shedding 14 percent in 2010.