October 10, 2016 / 7:31 AM / 10 months ago

China's cabinet issues guidance on lowering corporate debt levels

BEIJING, Oct 10 (Reuters) - China's cabinet issued guidance on Monday for lowering corporate debt levels.

China will push forward with mergers and acquisitions of firms and step up financial support, according to a statement on the government's website.

China must take action to reduce corporate debt, China's state planner said during a news briefing in Beijing on Monday.

High debt levels have added to operating difficulties for some Chinese firms, increasing their debt risks and financial risks, the National Development and Reform Commission said. (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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