Sina
Edition: CHINA ASIA USA EUROPE AFRICA
Home > Business
Monday, January 30, 2017, 09:27

China says central SOEs' debt risks controllable

By Xinhua

BEIJING - Debt risks at China's centrally-administered state-owned enterprises (SOEs) are controllable as the companies' debt level continued to fall in 2016, according to the SOE watchdog.

READ MORE: HK ‘poised to ride’ on SOE overhaul

The Assets Supervision and Administration Commission said the firms' total debt matched their asset scale

Central SOEs saw the debt-to-asset ratio of their non-financial business drop for the third consecutive year to 60.4 percent at the end of 2016, down 0.3 percentage points from a year earlier, said the State-Owned Assets Supervision and Administration Commission (SASAC).

The firms' total debt matched their asset scale and overall the debt risks are controllable, the SASAC said.

China has 102 central SOEs , which manage the bulk of the country's state assets.

READ MORE: New performance evaluation rules for SOE heads

The companies saw their combined profits and revenues both return to growth in 2016. Total profits climbed 0.5 percent year on year to 1.23 trillion yuan (around US$178 billion), while revenues rose 2.6 percent to 23.4 trillion yuan, official data showed.

Latest News