There will be targeted guidelines from the government to improve the quality of debt-to-equity swaps and push related deals to come into effect as soon as possible.

Measures can also be expected to improve corporate governance. A debt control mechanism will be established, and corporate capital can be replenished by additional share offering and bringing in strategic investors. Mixed-ownership reform will be promoted.

Policies on debt restructuring and bankruptcy will also be improved. Government, enterprises and banks will share losses from the bankruptcy of debt-ridden, loss-making "zombie enterprises."

During the meeting, Li listened to a report on handling suggestions about government work. During the past five years, the government dealt with 58,773 suggestions and proposals from national lawmakers and political advisors.

Li asked government agencies to pay more attention to new suggestions and proposals during the upcoming annual sessions of the national legislature and the top political advisory body in March.

The State Council also approved rules on the express delivery sector at the meeting, with adjustments on vehicles and packaging materials, and new items to improve infrastructure.

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