China will use policy tools such as targeted cuts in banks’ reserve requirement ratios to support debt-for-equity swaps this year. Photo: AP

China says it will cut banks’ reserve ratios to support debt-to-equity swaps

Government will also allow firms to tap capital markets, and speed up the elimination of zombie firms

Topic |   China economy

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China will use policy tools such as targeted cuts in banks’ reserve requirement ratios to support debt-for-equity swaps this year. Photo: AP
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