General Office of the National Development and Reform Commission, General Office of the People's Bank of China, General Office of the Ministry of Finance, General Office of the China Banking and Insurance Regulatory Commission and General Office of the China Securities Regulatory Commission, Circular on Encouraging Relevant Institutions to Participate in Market-oriented Debt-for-equity Swaps

国家发展和改革委员会办公厅、中国人民银行办公厅、财政部办公厅、中国银行保险监督管理委员会办公厅、中国证券监督管理委员会办公厅关于鼓励相关机构参与市场化债转股的通知

| BY

Susan Mok

Foreign investors are encouraged to engage in debt-for-equity swaps

Issued: November 13, 2018

Main contents: Qualified insurance group (holding) companies, insurance companies and insurance asset management institutions are permitted to establish dedicated implementing institutions to engage in market-oriented debt-for-equity swaps, and implementing institutions from the insurance industry are permitted to establish private equity investment funds to engage in market-oriented debt-for-equity swaps (Article 1).

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