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The overhaul of state-owned enterprises run...>

CHINA
CHINA: The overhaul of state-owned enterprises run by the central government
will accelerate and strengthen the government's deleveraging campaign, Premier
Li Keqiang said Wednesday in an executive meeting of the State Council,
according to the government's website. These SOEs are encouraged to concentrate
on mergers and reorganization, Li said, and the government will take measures to
deal with "zombie companies" and excess production capacity in the coal and
steel sectors, Li said. The reduction of SOEs' debt-to-asset ratios is the
government's top priority, Li stressed. The State Council meeting also discussed
the need to expand market-oriented debt-for-equity swaps as part of SOE reforms.
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