China drop lever debt experts refer to save not heal – Beijing queer as folk

China drop lever debt experts refer to "save not heal" – Beijing, China News Agency, Beijing (reporter Zhao Jianhua) in October 10, the State Council issued 10 "on the Chinese actively and steadily reduce leverage views" (hereinafter referred to as the "opinions") refers to the market, the rule of law means to carry out debt conversion. Beijing experts said that the debt is not saved, "Jiusi" survival of the fittest". "Opinions" to: in recent years, China corporate leverage rate is high, the size of the debt growth, increasing the debt burden of enterprises. In the international economic environment is more complex, China’s economic downward pressure is still larger, the number of enterprises operating difficulties intensified, to some extent, led to rising debt risk. In this regard, China National Development and Reform Commission, deputy director of the Institute of economics, deputy director of the Economic Research Institute, Li Shigang, an interview with the analysis of the current Chinese corporate sector leverage is at a high level. If we do not intervene, let it continue to develop, it is bound to increase the risk of corporate debt. But the debt and debt at the end of 90s of last century is completely different. Li Shigang said that a debt is mainly carried out by the government in the administrative and policy mode. The debt is through the market, the rule of law, the role of government is to provide a good policy environment for debt. The government is not directly involved, does not reveal all the details, do not bear the loss. The whole process, give full play to the decisive role of the market in the allocation of resources. This helps to reduce corporate debt risk. In addition to the experts of macroeconomic research, experts also believe that the banking sector two debt is different. Associate professor of financial China Academy of Social Sciences Institute of Li Guangzi said on a debt, both in order to solve (economy) enterprise high leverage problem is to solve the problem of bad assets of banks. But now China banking, asset size and quality, profitability and business risk and other regulatory indicators and cannot be mention in the same breath before. A debt of purpose is very clear, is to solve the difficulties of state-owned enterprises, but not the division of enterprise, the state-owned and private enterprises (private enterprises) alike. In addition, two debt, Chinese of the economic cycle is not the same. "Opinions" that swaps the good prospects for development, and the temporary difficulties encountered by high quality enterprises will be "encouraged". But the losses hopeless, has lost the survival prospects of the zombie companies, may contribute to excess capacity expansion and increase the inventory of enterprises, has been banned. In this regard, Li Shigang analysis, at present, China is not short of money, lack of high-quality enterprises and outstanding investment projects. Through debt, help high growth of high-quality enterprises through temporary difficulties, is conducive to the cultivation of new energy, the development of the new economy. Ban the use of "zombie" companies, may contribute to the excess capacity expansion of enterprises included in the debt, to resolve the overcapacity, to achieve the survival of the fittest, bad money drives out good money. Li Guangzi bluntly said, "this is not life skill". (end)相关的主题文章: