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China's central bank may take an alternative approach to maintain lower corporate borrowing costs instead of an immediate interest rate cut. [Photo/VCG]
China will set up a proper pricing mechanism for debt-to-equity swap programs and develop new approaches for swap deals to help ease companies' debt burdens and boost their vitality, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.
China will help commercial lenders to shift from the London Interbank Offered Rate (Libor), which is facing global criticism, to a self-designed interest rate system, according to the People's Bank of China, the central bank.
China's aviation products still lag behind foreign peers in comprehensive competitive power and market share. "However, we have advantages in cost performance and trading modes," said Yang Ying, president of China National Aero-technology Import and Export Corporation.
China will promote reforms and opening-up in an all-round way, the meeting said.
来源：资阳报