China said to consider adding 1t yuan debt-swap quotas
Add BT as a preferred source
[BEIJING] China is considering allowing another one trillion yuan (S$219 billion) of local government debt swaps, according to people familiar with the matter.
The plan is yet to be finalized because the Ministry of Finance needs to discuss it with the National People's Congress and seek State Council approval, the people said.
The new quotas will be in addition to the two trillion yuan already granted as part of a program to convert high-cost existing debt maturing this year into low-yielding municipal bonds. The ministry didn't immediately reply to a fax seeking comment.
BLOOMBERG
Share with us your feedback on BT's products and services
TRENDING NOW
A ‘shadow bank’ hiding in Singapore’s Little India casts light on financial services gap
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
Singapore, Asean have to be proactive to stay relevant in volatile world: Chan Chun Sing
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
