More efficient debt-to-equity swaps urged

State Council meeting decides to ease companies' burdens, boost vitality

China will set up a proper pricing mechanism for debt-to-equity swap programs and develop new approaches for swap deals to help ease companies' debt burdens and boost their vitality, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.

It was pointed out at the meeting that a market-oriented, law-based debt-to-equity swap is an important measure to help companies with promising market potential to tackle debt burdens, promote steady growth and manage risk.