国内英语资讯:China to ramp up measures for corporate deleveraging
<p><span word="BEIJING">BEIJING</span>, <span word="Feb">Feb</span>. 7-- <span word="China">China</span> <span word="will">will</span> <span word="continue">continue</span> <span word="with">with</span> <span word="the">the</span> <span word="deleveraging">deleveraging</span> <span word="of">of</span> <span word="enterprises">enterprises</span> <span word="by">by</span> <span word="promoting">promoting</span> <span word="market">market</span>-<span word="based">based</span> <span word="debt">debt</span>-<span word="to">to</span>-<span word="equity">equity</span> <span word="swaps">swaps</span> <span word="to">to</span> <span word="rein">rein</span> <span word="in">in</span> <span word="debt">debt</span> <span word="risks">risks</span>, <span word="according">according</span> <span word="to">to</span> <span word="a">a</span> <span word="decision">decision</span> <span word="at">at</span> <span word="a">a</span> <span word="State">State</span> <span word="Council">Council</span> <span word="executive">executive</span> <span word="meeting">meeting</span> <span word="chaired">chaired</span> <span word="by">by</span> <span word="Premier">Premier</span> <span word="Li">Li</span> <span word="Keqiang">Keqiang</span> <span word="on">on</span> <span word="Wednesday">Wednesday</span>.</p><p><span word="The">The</span> <span word="deleveraging">deleveraging</span> <span word="of">of</span> <span word="State">State</span>-<span word="owned">owned</span> <span word="enterprises">enterprises</span> <span word="will">will</span> <span word="be">be</span> <span word="the">the</span> <span word="high">high</span> <span word="priority">priority</span>, <span word="supported">supported</span> <span word="with">with</span> <span word="further">further</span> <span word="measures">measures</span> <span word="like">like</span> <span word="the">the</span> <span word="SOE">SOE</span> <span word="reform">reform</span>, <span word="cutting">cutting</span> <span word="excess">excess</span> <span word="capacity">capacity</span> <span word="and">and</span> <span word="lowering">lowering</span> <span word="cost">cost</span>, <span word="according">according</span> <span word="to">to</span> <span word="the">the</span> <span word="decision">decision</span>.</p><p><span word="The">The</span> <span word="channels">channels</span> <span word="for">for</span> <span word="private">private</span> <span word="capital">capital</span> <span word="to">to</span> <span word="be">be</span> <span word="turned">turned</span> <span word="into">into</span> <span word="equity">equity</span> <span word="investment">investment</span> <span word="will">will</span> <span word="be">be</span> <span word="expanded">expanded</span>, <span word="and">and</span> <span word="equity">equity</span> <span word="investment">investment</span> <span word="institutions">institutions</span> <span word="will">will</span> <span word="be">be</span> <span word="encouraged">encouraged</span> <span word="to">to</span> <span word="take">take</span> <span word="part">part</span> <span word="in">in</span> <span word="the">the</span> <span word="market">market</span>-<span word="driven">driven</span> <span word="debt">debt</span>-<span word="for">for</span>-<span word="equity">equity</span> <span word="programs">programs</span>.</p><p>"<span word="The">The</span> <span word="debt">debt</span>-<span word="to">to</span>-<span word="equity">equity</span> <span word="swap">swap</span> <span word="deserves">deserves</span> <span word="much">much</span> <span word="credit">credit</span> <span word="for">for</span> <span word="reversing">reversing</span> <span word="the">the</span> <span word="fast">fast</span> <span word="rise">rise</span> <span word="of">of</span> <span word="debt">debt</span> <span word="and">and</span> <span word="bringing">bringing</span> <span word="about">about</span> <span word="a">a</span> <span word="decline">decline</span> <span word="in">in</span> <span word="the">the</span> <span word="overall">overall</span> <span word="leverage">leverage</span> <span word="ratio">ratio</span>. <span word="It">It</span> <span word="has">has</span> <span word="been">been</span> <span word="a">a</span> <span word="market">market</span>-<span word="driven">driven</span>, <span word="rules">rules</span>-<span word="based">based</span> <span word="process">process</span>, <span word="which">which</span> <span word="has">has</span> <span word="worked">worked</span> <span word="well">well</span> <span word="so">so</span> <span word="far">far</span>," <span word="Li">Li</span> <span word="said">said</span>.</p><p><span word="Figures">Figures</span> <span word="from">from</span> <span word="the">the</span> <span word="National">National</span> <span word="Bureau">Bureau</span> <span word="of">of</span> <span word="Statistics">Statistics</span> <span word="show">show</span> <span word="that">that</span> <span word="by">by</span> <span word="the">the</span> <span word="end">end</span> <span word="of">of</span> 2017, <span word="the">the</span> <span word="debt">debt</span>-<span word="to">to</span>-<span word="asset">asset</span> <span word="ratio">ratio</span> <span word="of">of</span> <span word="industrial">industrial</span> <span word="enterprises">enterprises</span> <span word="with">with</span> <span word="annual">annual</span> <span word="business">business</span> <span word="revenues">revenues</span> <span word="at">at</span> <span word="or">or</span> <span word="above">above</span> 20 <span word="million">million</span> <span word="yuan">yuan</span> <span word="has">has</span> <span word="dropped">dropped</span> 0.6 <span word="percentage">percentage</span> <span word="point">point</span> <span word="year">year</span> <span word="on">on</span> <span word="year">year</span> <span word="to">to</span> 55.5 <span word="percent">percent</span>. <span word="The">The</span> <span word="figure">figure</span> <span word="for">for</span> <span word="State">State</span>-<span word="controlled">controlled</span> <span word="enterprises">enterprises</span> <span word="for">for</span> <span word="the">the</span> <span word="same">same</span> <span word="period">period</span> <span word="was">was</span> <span word="down">down</span> <span word="by">by</span> 0.9 <span word="percentage">percentage</span> <span word="point">point</span> <span word="to">to</span> 60.4 <span word="percent">percent</span>.</p><p><span word="The">The</span> <span word="National">National</span> <span word="Development">Development</span> <span word="and">and</span> <span word="Reform">Reform</span> <span word="Commission">Commission</span> <span word="announced">announced</span> <span word="last">last</span> <span word="August">August</span> <span word="that">that</span> <span word="the">the</span> <span word="agencies">agencies</span> <span word="enforcing">enforcing</span> <span word="debt">debt</span>-<span word="to">to</span>-<span word="equity">equity</span> <span word="swaps">swaps</span> <span word="have">have</span> <span word="reached">reached</span> <span word="agreements">agreements</span> <span word="according">according</span> <span word="to">to</span> <span word="market">market</span> <span word="principles">principles</span> <span word="with">with</span> 70-<span word="plus">plus</span> <span word="highly">highly</span> <span word="leveraged">leveraged</span> <span word="companies">companies</span> <span word="in">in</span> <span word="the">the</span> <span word="steel">steel</span>, <span word="coal">coal</span>, <span word="chemical">chemical</span> <span word="and">and</span> <span word="equipment">equipment</span> <span word="manufacturing">manufacturing</span> <span word="industries">industries</span>, <span word="with">with</span> <span word="a">a</span> <span word="total">total</span> <span word="contractual">contractual</span> <span word="value">value</span> <span word="of">of</span> <span word="more">more</span> <span word="than">than</span> 1 <span word="trillion">trillion</span> <span word="yuan">yuan</span>.</p>
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