China is speeding up deleveraging of....>

CHINA PRESS: China is speeding up deleveraging of state-owned enterprises

(SOEs), the Economic Information Daily, a newspaper under the official Xinhua

News Agency, said Monday in a front-page report. The newspaper stressed the

Chinese government is "taking real measures" in its SOE reform plan. The

State-owned Assets Supervision and Administration Commission of the State

Council, which manages listed SOEs, said that it  would reduce the liability

ratio of SOEs, the newspaper said. SOEs will control their the size of their

debt and reduce leverage, debt-to-equity swaps for SOEs will accelerate, with

several SOEs already signing debt-to-equity agreements with banks, according to

the newspaper. The Daily stressed high leverage is still a serious problem for

SOEs though their asset-to-liability ratio dropped by 0.2 percentage point

year-to-date in July compared with the beginning of this year. (Economic

Information Daily)