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China's first batch of debt-to-equity swaps is expected to "resolve" 1 trillion yuan ($154.38 billion) in potential bad banking debt in three years or less, media group Caixin reported on Monday, citing an unnamed policy banking source.
In a cover story in its weekly magazine yeezy boost 330 uk , Caixin cited a single "high-level" source at China Development Bank, a policy bank under the direct supervision of the State Council, regarding the scope of the programme without stating how the person had knowledge of the plans.
Calls to China Development Bank were not answered. Monday was a state holiday in China.
Last month, people with direct knowledge of the policy told Reuters that China's central bank is drawing up regulations to allow commercial lenders to swap non-performing loans of companies for stakes in those firms.
The programme could reduce commercial banks' non-performing loans, which surged to 1.27 trillion yuan at the end of 2015 yeezy ultra boost white for sale , although analysts have suggested it will reduce banks' capacity for new lending to stronger borrowers.
Also, many believe that moves to ease bad loan burdens at China's big banks may be of only marginal help in the near term.
Swapping debt into equity in a troubled borrower might get bad loans off lenders' books, but as China Construction Bank Chairman Wang Hongzhang warned last month, there was a danger of simply converting "bad debt into bad equity".
The Caixin report, citing several unnamed bankers yeezy boost 350 v2 beluga uk , said China Development Bank, Bank of China , Industrial and Commercial Bank of China , China Merchants Bank and others had been selected for trial moves in programme's first round of swaps.
YEREVAN， June 10 (Xinhua) -- Armenia's Cultural Minister Hasmik Poghosyan and Chinese Ambassador to Armenia Tian Erlong signed an agreement here Friday on a bilateral cultural cooperation program for 2017-2020.
The program blueprints cooperation aimed at the preservation of cultural traditions in the spheres of museums， theaters， music， dances， literature and cinema， as well as partnership in cultural events under the theme of the Silk Road， culture days， preservation of cultural heritage and also in the areas of maintenance and reconstruction of historic monuments.
The agreement follows a previous bilateral cultural program signed for 2012-2016.
Following the official ceremony， Hasmik Poghosyan and Tian Erlong held a joint press conference to talk about the current state of cultural cooperation between the two countries.
"Cultural cooperation is an integral part of the relations between the two countries as we both have ancient cultures. In recent years cultural relations between Armenia and China have been developing in all areas，" said Tian， adding the third "Days of Chinese Culture in Armenia" event is held in Armenia from June 9 to 14.
"Cultural relations between Armenia and China keep on developing. The signing of this agreement is a testament to the fact that China is a country with whom we can trust and cooperate，" said Hasmik Poghosyan.
He said that apart from the signed agreement， the institutionalization of the cultural relations was also important， referring to the Confucius Institute in Armenia and the recent opening of a new Chinese school in Armenia.
The concert of the China Song and Dance Ensemble of people with disabilities at the House of Opera and Ballet of Yerevan will mark the official opening ceremony of the event.
In the frameworks of this project， an exhibition of Chinese embroidery products dubbed "Elegant Chinese Embroidery" will also be held in the Hovhannes Tumanyan Museum. Enditem
HANOI, Aug. 22 (Xinhua) -- Vietnam is organizing Miss Student 2017 yeezy boost 350 v2 zebra uk , a beauty pageant for university and college students, with three rounds in big cities nationwide, the contest's organizers said on Tuesday.
The preliminary round will take place in Hanoi capital, northern Hai Phong city, central Da Nang city yeezy boost 350 v2 uk , central highlands Da Lat city, Ho Chi Minh City and southern Can Tho city; the semi-final round in Hanoi, Da Nang and Ho Chi Minh City, and the final night in Ho Chi Minh City on Dec. 17, according to the organizers.
The beauty pageant's winner and two runners-up will receive cash prizes of 50-200 million Vietnamese dong (2 yeezy boost 350 black uk ,200-8,800 U.S. dollars), valuable gifts and multi-day tours.
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