China Construction Bank has agreed to a debt-to-equity pact worth almost 5 billion yuan with Yunnan Tin Group. Photo: Reuters China Construction Bank has agreed to a debt-to-equity pact worth almost 5 billion yuan with Yunnan Tin Group. Photo: Reuters
China Construction Bank has agreed to a debt-to-equity pact worth almost 5 billion yuan with Yunnan Tin Group. Photo: Reuters

How a bloated Chinese state firm hopes to rise again from under a mountain of debt

Yunnan Tin is banking on another massive debt-to-equity swap to secure its future but many observers aren’t buying the idea

Topic |   State-owned enterprises
China Construction Bank has agreed to a debt-to-equity pact worth almost 5 billion yuan with Yunnan Tin Group. Photo: Reuters China Construction Bank has agreed to a debt-to-equity pact worth almost 5 billion yuan with Yunnan Tin Group. Photo: Reuters
China Construction Bank has agreed to a debt-to-equity pact worth almost 5 billion yuan with Yunnan Tin Group. Photo: Reuters
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