China's Big 4 banks to be included in debt to equity pilot scheme
China's 'big four' state-owned commercial banks and 'big four' asset management companies are to be included in the country's debt-to-equity pilot scheme, according to the chairman of Industrial & Commercial Bank of China (ICBC). In addition to ICBC, participating companies include Bank of China, Agricultural Bank of China, China Construction Bank, China Huarong Asset Management and China Cinda Asset Management. With the Chinese government finalising its new plan, conversion of debt to equity stakes could begin as early as next month.
China's Big 4 banks to be included in debt to equity pilot scheme - ICBC Chairman

BEIJING, Aug 30 (Reuters) - Industrial & Commercial Bank of China Chairman Yi Huiman said the country's Big Four state-owned commercial banks and Big Four asset management companies would be included in the country's debt-to-equity pilot scheme.

The Big Four include ICBC, along with Bank of China , Agricultural Bank of China , and China Construction Bank .

The Big Four asset managers are led by China Huarong Asset Management Co and China Cinda Asset Management Co .

Yi was speaking on the sidelines of a press conference in Beijing.