China Opens Up Debt-To-Equity Swaps, Tightens Rules on Insurers’ Investments

China will allow banks to set up private equity funds that can raise capital for firms taking part in the country’s debt-for-equity swap scheme, which was set up to ease the debt burden of state-owned enterprises. The state planner said on its website on Friday it will allow qualified listed and non-listed companies to issue common shares, preference shares or convertible …

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