Unsecured creditors who hold CDSs might prefer default to a lengthy restructuring: to them, the insurance policy is worth more than the house.

拥有信用违约互换的无担保的债权人宁愿看到违约也不想看到漫长的重组：对他们来说，保险单比房屋更值钱。

youdao

Many Chinese companies still rely on policy support. Furthermore, restructuring and the reorientation of the economic model take time.

二是中国许多企业的经营状况还没有根本好转，仍主要靠政策的支撑。

youdao

The restructuring can increase concentration degree of automobile industry and play scale economy and synergistic effect, which is a requirement of Chinese automobile industry in policy.

重组可以有效地提高汽车产业集中度，发挥规模经济和协同效应，也是中国汽车产业政策的要求。

youdao

We are changing from what was purely a restructuring policy, to what we call a focus-and-growth policy.

FORBES: Ulrich Hartmann's second act

Optimism is justified not on hope, but on evidence that when the disasters struck many Japanese companies were already achieving significant advances in productivity, sales, and profitability, as a result of restructuring and policy efforts begun in the wake of the 2008 global downturn.

FORBES: Macro News is Bad, But Japanese Companies are Getting Stronger

In fact, there is reason to worry more about government policy than about the ills of restructuring at the moment.

ECONOMIST: Is Japan learning to smile?