The debt-for-equity deal between China Construction Bank (CCB) and Yunnan Tin Group was the first to be announced after guidelines on the scheme were published in October. Photo: Nora Tam

Beijing’s debt-for-equity rules pose more questions than answers, Fitch says

The programme designed to cut dangerous levels of corporate leverage fails to address ‘zombie’ firms

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The debt-for-equity deal between China Construction Bank (CCB) and Yunnan Tin Group was the first to be announced after guidelines on the scheme were published in October. Photo: Nora Tam
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