China's central SOEs report falling debt-to-asset ratio

Updated 2018-01-17 16:22:01 Xinhua

China's centrally administered state-owned enterprises (SOEs) reported a falling debt-to-asset ratio last year as regulators took measures to contain debt in the sector, official data showed Wednesday.

The average debt-to-asset ratio of China's central SOEs stood at 66.3 percent at the end of 2017, 0.4 percentage point lower than the beginning of the year, according to data from the State-owned Assets Supervision and Administration Commission (SASAC).

By 2020, SASAC aims to cut the ratio by another 2 percentage points.

As central authorities have made curbing financial risks an economic priority, SASAC has put the capital structure, financing leverage, investment and risk of central SOEs under greater scrutiny in recent years.

Earlier data showed SOEs supervised by SASAC made a total of 1.4 trillion yuan (about 218 billion U.S. dollars) in profit, up 15.2 percent.

China currently has 98 centrally administered SOEs, down from 117 five years ago, as the central government has been restructuring central SOEs to improve their efficiency and competitiveness.

A series of reforms have changed their shareholding structure, spinning off non-core assets and encouraging innovation.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 16 2018 01:53:04

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 16 2018 01:53:04

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 16 2018 01:53:04

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords