China's debt-for-equity swaps looking more like debt-for-debt move
Government's bid to pare corporate debt involves new bonds to finance the swaps
Thu, Oct 12, 2017 - 5:50 AM
A KEY Chinese initiative to rein in the world's largest corporate-debt load is a programme swapping some loans into equity stakes. As the initiative gets going, however, it's becoming clear the debt isn't really going away.