This note considers the role debt-equity conversions and NPL securitization can play in addressing excessive corporate debt in China, and the corresponding burden on banks of impaired assets. It finds that such techniques can play a role, but getting their design right is critical, as is nesting...

This paper reviews the legal and regulatory regime for the resolution of non-performing loans (NPL) of state-owned banks in China. Currently, China's NPL market is comprised of two levels: the primary market (banks acting as the exclusive NPL sellers and asset management companies (AMCs) as the...

This research explored the effects of the coronavirus disease (COVID-19) outbreak on stock price movements of China’s tourism industry by using an event study method. The results showed that the crisis negatively impacted tourism sector stocks. Further quantile regression analyses supported...