Mainland Chinese banking stocks soared on Thursday after the Ministry of Finance this week approved a 1 trillion yuan quota for swapping high-interest, short-maturity loans to local governments into low-interest, long-term bonds. Photo: Bloomberg
Mainland Chinese banking stocks soared on Thursday after the Ministry of Finance this week approved a 1 trillion yuan quota for swapping high-interest, short-maturity loans to local governments into low-interest, long-term bonds. Photo: Bloomberg

Loan or bond, China's banks still locked into local governments

Mainland Chinese banking stocks soared on Thursday after the Ministry of Finance this week approved a 1 trillion yuan quota for swapping high-interest, short-maturity loans to local governments into low-interest, long-term bonds. Photo: Bloomberg
Mainland Chinese banking stocks soared on Thursday after the Ministry of Finance this week approved a 1 trillion yuan quota for swapping high-interest, short-maturity loans to local governments into low-interest, long-term bonds. Photo: Bloomberg
READ FULL ARTICLE