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Economy

Laos shifts to China equity from loans as party congress starts

Beijing's communist sibling pushed to salvage state enterprises amid pandemic

Laotian Prime Minister Thongloun Sisoulith, left, and Chinese President Xi Jinping at the Great Hall of the People in Beijing last year. China is Laos' largest lender.   © Reuters

BANGKOK -- Laotian Prime Minister Thongloun Sisoulith has signaled a change in tack to slow the communist-ruled country's slide toward defaulting on its foreign debts: securing foreign financing through equity rather than more loans, the largest source of which has been China.

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