China’s NDRC: Must take action to lower corporate debt levels

Headlines crossed the wires from China's state planner, National Development and Reform Commission (NDRC) in the last hour, highlighting corporate debt concerns.

Key Headlines via Reuters:

China must take action via multiple measures to lower corp debt levels

High debt levels have intensified operating difficulties for some firms

High debt levels increase debt risk and financial risk

China will conduct market-oriented debt to equity swaps in an orderly way

Will allow firms to develop equity financing

Will allow firms go bankrupt according to law

Will step up checks at state-owned firms in order to reduce debt levels