(Beijing) Central and local governments are setting up investment funds that are expected to take part in the debt restructuring of state-owned enterprises (SOEs) by making equity investments, buying debts and participating in debt-to-equity swaps, among other activities.
In February, the State-Owned Assets Supervision and Administration Commission (SASAC) selected China Chengtong Holdings Group Ltd. and China Reform Holdings Corp. for a pilot program in which will carry out acquisitions, mergers, recapitalizations, restructurings and other capital operations to promote debt reforms for SOEs.
As a principal founding shareholder, China Chengtong in September initiated a 350 billion yuan ($51.6 billion) SOEs Structure Adjustmen…
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