Deleveraging efforts to be pushed forward

China will continue with the deleveraging of enterprises by promoting market-based debt-to-equity swaps to rein in debt risks, according to a decision at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.

The deleveraging of State-owned enterprises will be a high priority, supported by further measures such as SOE reform, cutting excess capacity and lowering costs, according to the decision.

The channels for private capital to be turned into equity investment will be expanded, and equity investment institutions will be encouraged to take part in market-driven debt-for-equity programs.