China to support debt-to-equity transfers for steel, coal firms

China to support debt-to-equity transfers for steel, coal firms

A Chinese national flag flies in front of the China Construction Bank (CCB) Tower at Hong Kong's business Central district December 26, 2014. REUTERS/Tyrone Siu

China will support asset management companies converting debt into equity stakes for steel and coal firms, and provide credit support to competitive companies with overcapacity issues, the country’s top banking regulator said.

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