Almost a year after China rolled out steps to rein in soaring corporate leverage, concerns are rising that undeserving companies are benefiting while households are getting saddled with risks.
China unveiled guidelines for debt-to-equity swaps in October, part of measures to trim the worlds biggest corporate debt loads. The idea was that healthy firms would use the program to cut interest-bearing…
Read the full article at: https://www.bloomberg.com/news/articles/2017-08-20/zombies-propped-up-as-china-s-debt-swaps-surpass-100-billion