秒秒pk10直播 BEIJING - China's 秒秒pk10直播 t秒秒pk10直播 op economic planne秒秒pk10直播 r said Friday that it supported non-state firms to conduct debt-to-equity swaps, the country's latest move to reduce corporate leverage.
Private firms and foreign-funded firms will be supported to conduct such swaps in a market-oriented manner, said a document released by the National Development and Reform Commission (NDRC).
Debt-to-equity swaps allow creditors to exchange debt for equity stakes so that companies with long-term potential are not forced to default.
This method has been used by state-owned enterprises.
The NDRC also allowed banks to conduct swap programs by raising money through private equity funds.
Tax preferences and low-cost funding support will be provided for companies and banks involved in such programs, according to the document.
Debt-to-equity swaps are part of China's efforts to deleverage its corporate sector and rein in financial risks.