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Due to potential conflict-of-interest concerns, original bank lenders are not encouraged to swap debt for equity directly. Instead, new entities, backed by asset management companies, insurance companies and State-owned funds, are established to pay off loans for equity swaps.

Dong Mingzhu, chairwoman of Chinese home appliance manufacturer Gree Electric Appliances, delivers a speech at the eighth China (Mianyang) Science and Technology City International High-Tech Expo in Mianyang, Sichuan province on Monday.[Photo/Chuanguan News]

Du Wanhua, a senior judge at the top court, said China's bankruptcy trials have been making rapid progress and are playing an increasingly important role in the development of the country's market economy.

Dr Lindsay Leither, director of Intermountain Medical Center's respiratory ICU in Murray, Utah, said that ICUs full of COVID-19 patients exhaust a lot of a hospital's resources, so they need to have options to move people to different beds.

Doug Herrington — SVP, North America Consumer