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Two technicians adjust a robot at a high-tech enterprise in Chongqing. CHEN SHICHUANG / FOR CHINA DAILY |
Official rules out coercion but says troubled firms will be persuaded to consider the alternative option
China will stick to market-based principles while promoting debt-to-equity swaps to tackle debt problems of companies, an official of the nation’s top economic regulator said on Wednesday.
“The government will encourage debt-to-equity programs but won’t force companies and creditors to make swap deals,” said the official with the National Development and Reform Commission, who sought anonymity.
Debt-to-equity swaps will be key to lowering corporate debt levels, and are expected to gather pace in the future with improved …
Read the full article at: http://www.chinadaily.com.cn/business/2017-08/10/content_30400216.htm