Policy digest

New swap to help firms

China will encourage private and foreign investors to take part in debt-to-equity swaps in a bid to help ease companies' debt burdens and boost their vitality, the State Council decided at an executive meeting on Wednesday.

According to a statement released after the meeting, chaired by Premier Li Keqiang, a proper pricing mechanism for the swaps will be set up. Social capital will be encouraged to take part in market-oriented swaps to improve equity structures, with the protection for the rights and interests of private investors set to be enhanced.