This is really good news for banks, because after the swap, these debts get quasi-state backing and the risks of default are greatly reduced.

Luo Wenbo

Categorized in : Industrials

Over the weekend, Premier Li Keqiang vowed to support the economy if it continues to slide, so the worse the data, the sooner stimulus policies will be rolled out, investors wouldn't have been so bold if the premier hadn't made that promise.

industrials