IN BRIEF (Page 6)

Committees for indebted firms

Creditors of troubled Chinese firms can set up debt committees to assist with debt restructuring, the country's banking regulator said on Friday, as more firms get into financial difficulties and are unable to repay their loans. As the country's growth rate stutters, increasing numbers of borrowers are going bust and leaving China's banks with trillions of yuan in soured debt. The aim of the committee is to "guide firms through their debt restructuring, help troubled firms to resolve their troubles," among other things, the China Banking Regulatory Commission said in a notice posted on its website.

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