s out of ou上海品茶微信女神会所r expectations, and it was maintained because of countercyclical policies,” said Zhang Xiaojing, a senior economist with the CASS.
But the deleveraging process should continue, and more measures will be introduced to ease the debt burden, especially
for the private sector, said Lian Weiliang, deputy head of the National Development and Reform Commission.
One of the key measures is to further promote the debt-to-equity s
wap program, to inject more social funds into indebted companies through holding the co
mpanies’ shares, the NDRC official said. “We will choose more qualified private companies to join this program.”
By the end of April, the total value of debt-to-equity swap reached 2.3 trillion yuan ($332.8
billion). More than 20 percent was for the centra上海品茶微信女神会所l State-owned enterprises, inclu
ding China Baowu Steel Group Co Ltd, State Power Investment Co Ltd, and China Shipbuilding Industry Corp, acc
ording to data from the State-owned Assets Supervision and Administration Commission.