Tuesday, May 17, 2016

The Chinese Are Now Zirping

Debt-for-bond swap quickened to lower local govts' burden

A clerk counts yuan bills at a bank in Huaibei, East China's Anhui province. [Photo/IC] China has accelerated debt-for-bond swaps for local governments, adding more than 2 trillion yuan ($306.7 billion) since the start of the year, more than half of last year's 3.2 trillion yuan, reported the Economic Information Daily on Friday. Of the total…