久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Policies

China's economy more secure with abating financial risks

Xinhua | Updated: 2018-08-16 15:12
Share
Share - WeChat
Workers inspect the high-speed wire rod mill. [Photo/IC]

BEIJING - From a debt-laden steelmaker to a key supplier for new stadiums of the 2022 FIFA World Cup in Qatar, Nanjing Iron and Steel Co exemplifies China's efforts to rein in its financial risks.

After winning another order to supply around 1,900 tons of steel to the Persian Gulf country, the Shanghai-listed company has seen its global market presence rise and its asset-liability ratio decline.

Thanks to a debt-to-equity program as well as a greener and more innovative business model, the firm saw its net profit skyrocket 800 percent year-on-year in 2017, while its debt ratio dropped from over 80 percent to 60 percent.

Excessive leverage, mounting non-performing loans and lurking dangers of the shadow banking system are some of the financial woes that have vexed the Chinese economy over the past several years, prompting policy-makers to make prevention of financial risk one of the "three tough battles" they pledge to win.

Progress so far shows regulators are gaining an upper-hand on this front. Their strengthened policies have sent debt-to-capital ratios into retreat and made financial institutions significantly enhance their compliance.

China's leverage ratio narrowed by 1.1 percentage points in the first quarter of the year from a year ago, while enterprises saw their debt gauge 2.4 percentage points lower and governments' down 0.7 percentage points.

Besides sapping soaring leverage ratios, concrete steps have been taken to remedy the country's financial dysfunction including the so-called "shift from real economy to virtual economy."

"The key to ensuring financial stability is to enhance the conduction mechanism of monetary policy, which will make the financial sector serve the real economy better," said Zong Liang, a senior researcher with the Bank of China.

Policymakers aim to accomplish the dual-task of taming financial risks and promoting the sector to play a more significant role in bolstering the real economy, in particular, cash-hungry private and small businesses.

In 2017, the banking sector completed 48 of the 70 key tasks in shoring up weak links, with 40 more unveiled this year. The insurance sector also beefed up its regulatory strength.

A more rigorous policy framework has seen stricter enforcement. In the first half of this year, China's top banking and insurance watchdog punished nearly 800 banking institutions and 175 people with access to the sector, including imposing lifetime bans.

"We used to circumvent new financial regulations as much as we could," said an insider with a stock brokerage firm. "But now, we waste no time in amending our practices to avoid penalties."

China's financial risks, instead of being pervasive, are now increasingly restrained, according to opinions at a meeting earlier this month of a financial stability and development committee under the State Council, the cabinet.

For companies like Nanjing Iron and Steel Co, deleveraging will be conducted in a targeted, smooth and orderly manner.

Cong Liang, a spokesperson of the National Development and Reform Commission, said Wednesday that measures would be taken to advance debt-to-equity programs and help State-owned enterprises cut their leverage ratio.

With headway being made, policymakers also warn of the adverse impact of external uncertainties and called for a proactive and nimble approach in handling the financial risks.

"The 'bombs' must be dismantled while maintaining the stability of the economy, and 'risks induced in defusing risks' must be forestalled," said Guo Shuqing, China's top banking and insurance regulator.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产亚洲精品久久久久91网站 | 国产专区中文字幕 | 久久精品一区二区国产 | 亚洲精品天堂一区在线观看 | 国产精品反差婊在线观看 | 久久99亚洲网美利坚合众国 | 精品国产香港三级 | 久久久久久久久一级毛片 | 日韩偷拍自拍 | 久久视频这里只精品3国产 久久视频这里只有精品 | 国产综合成人久久大片91 | 日本vs欧美一区二区三区 | 成人三级在线播放线观看 | 亚洲精品综合在线 | 国产一级毛片午夜福 | 玖草在线 | 久久 在线 | 国产精品免费一区二区区 | 久草网视频在线观看 | 美女张开腿让人捅 | 日韩午夜视频在线观看 | 中字毛片 | 久久国产亚洲欧美日韩精品 | 国产成人高清精品免费观看 | 欧美成人毛片在线视频 | 精品欧美一区二区精品久久 | 在线观看香蕉免费啪在线观看 | 精品久久久中文字幕二区 | 色夜视频 | 欧美另类视频一区二区三区 | 伊人久久国产免费观看视频 | 中文字幕乱码中文乱码51精品 | 亚洲精品一区二区三区在线观看 | 日本一区二区三区不卡在线视频 | 日韩一品在线播放视频一品免费 | 欧美日韩一区二区三区高清不卡 | 日韩www视频 | 免费在线一级片 | 国产九区 | 国产精品自在欧美一区 | 日韩精品免费一区二区 |