June 5, 2019 / 7:37 AM / 3 months ago

Chinese firms sign $333 bln debt-to-equity swaps as of end-April

BEIJING, June 5 (Reuters) - China’s state planner said on Wednesday that 2.3 trillion yuan ($332.97 billion) worth of debt-to-equity swap agreements had been signed by firms as of the end of April.

Beijing has encouraged highly indebted firms to enter into such agreements as part of its sweeping, multi-year campaign to reduce risks in the financial system and high levels of debt.

$1 = 6.9076 Chinese yuan Reporting by Beijing Monitoring Desk Editing by Jacqueline Wong

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