Employees work in a Hangzhou Iron and Steel Group Company workshop in Hangzhou. Photo: REUTERS/Steven Shi

China’s banks swap 1 trillion yuan of debt into stocks, extending financial life line to state debtors

More than 70 of the country’s most indebted companies in steel, coal, chemical and equipment manufacturing reached debt-to-equity swaps.

Topic |   Banking & Finance

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Employees work in a Hangzhou Iron and Steel Group Company workshop in Hangzhou. Photo: REUTERS/Steven Shi
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