Advanced Search
English Home
Headline
Opinion
China
World
Business
Sports
Education
Sci-Tech
Culture
FM Remarks
Friendly Contacts
News in
World Media
Features
Message Board
Voice of Readers
Feedback
Employment Opportunity

Tuesday, January 25, 2000, updated at 20:53(GMT+8)
Business 112 Billion Yuan Debt So Far Converted to Equity

China has converted the debts of 78 state-run enterprises totaling 112.2 billion yuan (13.5 billion U.S. dollars) to equities by January 24, a senior official said in Beijing on January 25.

A spokesman for the State Economic and Trade Commission SETC told a press conference that most of these state enterprises are expected to have profit this year.

China has introduced "debt-to-equity conversion" to turn the debts of money-losing state enterprises into equities owned by asset management companies and banks, which aims to easing the burden of those enterprises and helping them resume healthy operation.

So far, 601 such enterprises have been approved to adopt the method with an estimated 459.6 billion yuan (55 billion US dollars) in equity value. (Xinhua)

Printer-friendly Version In This Section
  • EU Expects Substantial Results of EU-China WTO Talks

  • China Seeks Overseas Funds to Develop Offshore Oil and Gas

  • Overseas Investment in China Drops in 1999

  • American Insurance Company Set Up in Shenzhen

  • CPPCC Vice-Chairman Leaves for Davos

  • Brazil-China Trading to Be Promoted by Agreement

  • Back to top
    Copyright by People's Daily Online, All rights reserved




    Relevant Stories
  • Beijing Plans Stock Option Contracts with More SOE Managers


  • Progress Made in SOE Reform


  • Beijing SOEs to Have Bigger Say in Paying Staff




  • Internet Links
  • SOE Reform -- People's Daily