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China's central SOEs see drop in asset-liability ratio in Q1
Last Updated: 2018-04-17 10:50 | Xinhua
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China's central state-owned enterprises (SOEs) saw a drop in their asset-liability ratio in the first quarter of this year thanks to deleveraging efforts, the country's top SOE regulator said Monday.

The average asset-liability ratio for central SOEs stood at 65.9 percent by the end of March, down by 0.4 percentage points compared with the beginning of this year, according to the State-owned Assets Supervision and Administration Commission (SASAC).

The country's SOE sector has become a major target for the ongoing deleveraging drive, which aims to rein in mounting debt and guard against financial risks.

The government will continue to reduce leverage and liability among central SOEs, according to Peng Huagang, SASAC spokesperson.

More efforts will be made to dispose of non-performing assets and regulate open-book credit and inventory, high-risk businesses, debt investment and risks in other areas like international expansion, Peng pointed out.

Central SOEs are encouraged to expand equity financing by debt-equity swap and promote mixed-ownership and diversified equities, Peng said, adding that this financing will be conducted in a market-oriented manner.

Asset management and capital utilization efficiency should also be improved, Peng said.

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