How central enterprises reduce leverage and reduce debt

Peng Huagang, spokesperson of the State-owned Assets Supervision and Administration Commission, said at a press conference today that in fact, reducing leverage and reducing liabilities, to put it graphically, if the funds and capital in corporate operations are compared to the blood in operations, this process can It is said that it is a question of finding ways to stop bleeding, find ways to replenish blood, and find ways to make blood.

The first is to stop the bleeding, that is, to further increase the cleanup of non-performing assets, especially the loss-making asset enterprise projects. The significance of this work is that after disposing of non-performing assets and reducing losses, the bleeding hole will be blocked. This is a good way to stop bleeding. In addition, we strictly control the two funds, strictly control high-risk businesses, strictly control debt investments, including international operations and other various risks, and strive to stop the bleeding points.

The second is to replenish blood. Through the capital market, we must also expand equity financing through debt-for-equity swaps, introduce various types of capital, and carry out mixed system reforms and equity diversification reforms. Mixed ownership reform allows all types of capital to integrate and develop together, and it will also bring capital, which is good for deleveraging. Therefore, further efforts must be made in this regard. Whether it is blood replenishment or blood transfusion, do you think of government blood transfusion? This has nothing to do with the government. It is completely market-oriented. Market-oriented methods and means are used to increase capital for enterprises.

The third is to create blood. We will further promote weight loss and fitness, improve quality and efficiency, improve management level and capital utilization efficiency, improve value creation capabilities, and continuously increase business accumulation. At the same time, the State-owned Assets Supervision and Administration Commission will further implement classified management and control, strengthen work supervision, and increase the assessment of leverage reduction and debt reduction work to ensure the implementation of this year's leverage reduction tasks.