Caixin
Apr 05, 2016 02:14 PM

Banks Bracing for Debt-Equity Swaps Revival

(Beijing) – The Chinese government wants to revive debt-for-equity swaps and disperse trillions of yuan in toxic loans before they choke the nation's banks.

A yet-to-be-finalized swaps program outlined March 25 by top officials in Beijing could mirror a successful 1999-2004 project through which banks took stakes in 580 companies in exchange for canceling 405 billion yuan worth of overdue loans.

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