BEIJING air max 97 rosa scontate , Aug. 23 (Xinhua) -- China will channel more energy into deleveraging in state-owned enterprises (SOEs) administered by the central government amid improving corporate performance.
A State Council meeting presided over by Premier Li Keqiang Wednesday agreed the work will be a priority in the ongoing national campaign to bring down debt levels, according to an official statement.
Central SOEs have made headway in cutting outdated capacity air max 97 silver scontate , reining in debt risks and improving competitiveness, the statement said.
Combined profits of central SOEs rallied 16.4 percent year on year in the first seven months air max 97 bambino scontate , in contrast with a 3.7-percent drop in the same period of 2016. The debt-to-asset ratio edged down 0.2 percentage point from the beginning of the year.
Given the favorable conditions, more efforts are needed to dissolve the debt of SOEs and a guideline will be formulated air max 97 donne scontate , according to the meeting.
"Warning lines" of debt ratios will be drawn for state firms. Those breaching the limits will see bigger weighting of debt management in their annual assessment and will be banned from making debt-fueled investment.
The government will encourage SOEs to adopt multiple means to reduce debt. Rapidly growing firms will be allowed to use part of their profits to repay debt. Those with low debt ratios or strong earnings power can include costs of capacity cuts and other reform measures into current losses.
A document on assets disposal of bloated steel and coal companies will be rolled out to guide SOEs to replenish capital for transformation.
Debt-to-equity swaps will be pushed forward, with state investment funds to be encouraged to participate in the process. Central SOEs should speed up the pace of mergers and acquisitions.
The regulators will implement stricter accountability systems to prevent piling corporate debt.
The meeting agreed that the deleveraging should help China's economic shift and restructuring.
There will be more effective measures to eliminate excess steel and coal capacity and tackle "zombie companies." New capacity in thermal power air max 97 uomo scontate , electrolytic aluminum and construction materials will be under rigorous control.
Meanwhile, the "Internet Plus" and "Made in China 2025" plans will continue to be propelled to foster the new economy and reorganize traditional industries.
During the meeting air max 97 scontate , policymakers also discussed measures to stimulate technological innovation. Equity and option incentive plans in state-owned tech-firms will be expanded.
Favorable policies including tax reductions for tech firms will be further implemented.
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by Guo Yage， Wang Haiqing， Yu Shuaishuai
BEIJING， Dec. 26 (Xinhua) -- Year 2016 has seen many new faces in the global political arena， with some capturing worldwide attention even before they won a crucial vote to become the helmsman of a major country or a key multilateral organization.
They were propelled to the center stage amid growing anti-globalization sentiment， a populist surge， and concurring crises. How these prominent figures proceed to deliver their election pledges will hugely impact the world， for better or for worse， according to experts.
DONALD TRUMP: AMERICA FIRST
Trump has stunned the whole world when he won the 2016 U.S. presidential election. While his campaign trail has revealed an increasing turmoil in the United States， his moving into the White House next month will no doubt leave more uncertainties to this country， and the world at large.
A political outsider， he won the election by capitalizing on deepening discontent toward the ruling elites and portrayed himself as a champion of the public will.
The surging populism， anti-intellectualism， isolationism， trade protectionism and anti-globalization have all helped pave the way for Trump' s election victory. Yet there are constant doubts that Trump， who chanted "America First" throughout the campaign， will bring a better future for the United States.
According to analysts， Trump could not ease the widening wealth gap and rooted social problems， nor could he revive the U.S. economy though he promised to do so with a policy mix of fiscal measures， infrastructure spending and tax cuts.
The policy mix may add to a "long-term global debt crisis，" Bill Gross， a renowned bond manager， wrote in a December newsletter titled "Red is the New Green" .
Trump' s promised tax cuts， including reducing taxes for businesses and the ultra wealthy Americans， will be "damaging" to the working class， Gross said.
Trump has also urged U.S. companies to stop outsourcing jobs overseas， and threatens possible financial penalties if they continue to do so.
Still， such policy will be "very difficult to bring certain jobs back， those low wage， low cost manufacturing jobs" as many U.S. manufacturing companies lack advantages in global competition， said Eswar Prasad， a professor at Cornell University and senior fellow at the Brookings Institution.
Besides， if there is too much of an emphasis on traditional， blue-collar manufacturing without an eye on high-tech sector of the economy， the country will face more difficulties down the road as the global economy changes， said Dan Mahaffee， vice president of Center for the Study of the Presidency and Congress.
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