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Companies that are invested or run by State capital or qualified central SOE funds will be encouraged to take part in the swaps using various market channels.

Compared to conventional loans extended by a single bank, syndicated loans are often led by large banks and enjoy the advantages of dispersing loan risks, reducing peer competition and encouraging profit-sharing among lenders.

Congratulating Lam on her victory in the election as the HKSAR's fifth-term chief executive and ensuing appointment by the State Council, Xi said Lam's victory is well deserved and she meets all the central authority's standards for the role.

Companies related to electronics and foreign goods trade were among the biggest losers. Bucking the trend, gold producers rallied and the sub-index went up 1.69 percent.

Compared with the rapid progress made by mobile payments in the country, the number of new credit cards issued has slowed in recent years.