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Chinese firms implemented $203 billion debt-to-equity swaps in 2019 - Metro US

Chinese firms implemented $203 billion debt-to-equity swaps in 2019

FILE PHOTO: People stand near a window overlooking the financial district in Shanghai, China October 23, 2019. REUTERS/Stringer
Reuters

BEIJING (Reuters) – Chinese firms implemented 1.4 trillion yuan ($203 billion) debt-to-equity swaps in 2019, the vice chairman of China’s banking and insurance regulator said on Monday.

China will take different measures to dispose of risks from some high-risk institutions besides Baoshang, Jinzhou and Hengfeng banks, Xiao Yuanqi, spokesman of the regulator told a press conference in Beijing.

(Reporting by Yawen Chen and Ryan Woo; Editing by Toby Chopra)

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