1. LINE

      Text:AAAPrint
      Economy

      China steps up deleveraging at central SOEs

      1
      2017-08-24 08:29Xinhua Editor: Gu Liping ECNS App Download

      China will further reduce leverage at central State-owned enterprises by establishing multiple channels to reduce corporate debts, a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.

      In the first seven months of this year, central SOEs registered a profit of 846.9 billion yuan, up by 16.4 percent year-on-year, as against a 3.7 percent drop in the same period last year. Central SOEs' debt ratio was 66.5 percent in July, down by 0.2 percentage points from the start of this year, according to State-owned Assets Supervision and Administration Commission of the State Council.

      The performance by central SOEs in quality and efficiency improvements over the past two years has received full affirmation from the premier.

      "Central SOEs are the backbones of the economy. We need to conduct in-depth analysis to find key drivers that contribute to the transition to profits and consolidate the upward momentum," Li said.

      "We should seize the opportunity and step up the deleveraging of SOEs. Lower debts can benefit the whole economy," he added.

      The meeting on Wednesday decided that the government will establish an alert line mechanism for debt ratios of different overly-leveraged sectors.

      Central SOEs will face strict control in investments out of their main business portfolios and in programs that could increase their debt ratios. Enterprises that see sharp profit growth will be urged to pay down their debts. A government guideline to further reduce the debt ratios for central SOEs in an active and steady manner will also be rolled out.

      The debt-for-equity swaps will be pushed forward in line with market rules and the law, and new market-based models for the swaps will be explored. Agencies that implement the swaps will receive support to expand their funding channels. Companies that are invested or run by State capital or qualified central SOE funds will be encouraged to take part in the swaps using various market channels.

      The meeting also decided that the government will carry forward supply-side structural reform of central SOEs proactively, including absorbing of excessive capacity in the steel and coal sectors and production reduction in sectors including thermal power, aluminum smelting. The removing of insolvent "zombie" enterprises will also be a priority.

      There will be greater M&A efforts that encourage leading enterprises and those that are public listed to consolidate businesses in their own sectors.

      The innovation-driven strategy will be put to fuller use as central SOEs will be encouraged to make use of innovation development funds for breakthroughs in core technologies. A number of incubators, innovation and entrepreneurship centers, online space for innovation and technological service platforms will be developed.

      "Many central SOEs are engaged in traditional industries. During the transition between traditional and new growth engines, we need to achieve the transformation and upgrading into enterprises with lower leverages, lower debts and higher core competitiveness," the premier said.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 永久免费av无码入口国语片| 四虎一区二区成人免费影院网址| 免费看片A级毛片免费看| 亚洲精品无码午夜福利中文字幕 | 久久免费看黄a级毛片| 亚洲人成电影亚洲人成9999网| 日本三级在线观看免费| 国产成人精品日本亚洲| 亚洲免费视频网站| 久久亚洲精品人成综合网| 97青青草原国产免费观看| 亚洲精品成人av在线| 又黄又爽又成人免费视频| 色婷五月综激情亚洲综合| 免费高清资源黄网站在线观看| 亚洲乱理伦片在线观看中字| 国产成人高清精品免费鸭子| 二级毛片免费观看全程| 久久被窝电影亚洲爽爽爽| 99热免费在线观看| 亚洲综合色7777情网站777| 国产色爽免费视频| 国产成人精品免费大全| 亚洲国产精品人久久| 无码乱肉视频免费大全合集| 在线观看亚洲AV日韩AV| 四虎永久免费影院在线| 两性色午夜免费视频| 久久精品a亚洲国产v高清不卡 | 亚洲另类春色校园小说| 日韩成人在线免费视频| 亚洲精品视频免费| 亚洲大尺码专区影院| 免费成人av电影| 免费观看久久精彩视频| 国产亚洲玖玖玖在线观看| 亚洲精品日韩专区silk| 精品国产福利尤物免费| 亚洲精品乱码久久久久久下载| 女人被男人躁的女爽免费视频| 一区二区视频免费观看|