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Daniel Lam (second from right), the regional director of Hong Kong Trade Development Council in Middle East and Africa; Moses Ikiara (third from left), the managing director of the Kenya Investment Authority; Nicholas Kwan (second from left), director of research at Hong Kong Trade Development Council; and other invited guests pose for a photo during a networking lunch in Nairobi, Kenya, Aug 6, 2019. [Edith Mutethya/chinadaily.com.cn]

Debt-to-equity swaps involve transactions in which a company's obligations or debts are exchanged for equity, generally meaning shares in the case of a listed company.

Deborah Dunsire, president and CEO of multinational pharmaceutical company Lundbeck A/S, expects more business opportunities to unfold rapidly in China, the second-largest market for the company.

Data from 28 cities showed that the ratio of revenue and expenditure stood at 78 percent in 2018 after increasing 8 percentage points from the previous year. Only four cities — Hangzhou, Qingdao, Shenzhen and Beijing — achieved balance last year, and the rest of 24 cities operated at loss.

Dating back more than 2,000 years, Kashgar's old town underwent a 7 billion-yuan (.05 billion) renovation, making dilapidated houses earthquake-proof while maintaining the traditional style.