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Nearly 90% Debt-to-Equity Enterprises Stop Making Loss
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It is estimated that at least 87 percent of the debt-to-equity enterprises would turn loss into gain in the year 2000, stated Ou Xinqian, the head of the Industry Policy-Making Department under the State Economic and Trade Commission recently in Beijing.
Up to now, the State Council has ratified 304 enterprises to perform debt-to-equity after the co-auditing of the State Economic and Trade Commission, the Ministry of Finance and the People's Bank of China. The share capital involved in the debt-to-equity is RMB 182.6 billion. 9 enterprises out of the 304 debt-to-equity companies have finished the transferring of mechanism, the registering of new companies and their new businesses have started off. According to the statistics of 504 debt-to-equity enterprises by the State Statistics Bureau, after the debt-to-equity restructuring, there has been a knock down of the assets-liability ratio of the enterprises, an increase of the beneficial result and an enforcement of technology research, which enables the enterprises to improve the quality of their assets and to be competitive in the market.
(People's Daily 01/10/01)
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