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Railway Ministry in over 2 trillion yuan debt
By Wang Qingchu |
August 2, 2011, Tuesday
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Online Edition
Online Edition
CHINA'S Railway Ministry is 2.0907 trillion yuan (US$325 billion) in debt after the first half of this year, the first time its debt exceeded 2 trillion yuan threshold.
The ministry's asset-liability ratio has reached 58.53 percent, slightly higher than the 58.24 percent in the first quarter, according to a statement posted yesterday on the Shanghai Clearing House, an inter-bank clearinghouse authorized by the People's Bank of China and the Ministry of Finance.
The ministry posted a profit of 4.29 billion yuan in the first half, the statement said.
The ministry is under increasing financial pressure as it would continue to finance projects, Ou Guoli, a professor of Beijing Jiao Tong University, was quoted by today's Beijing News.
The ministry's asset-liability ratio has reached 58.53 percent, slightly higher than the 58.24 percent in the first quarter, according to a statement posted yesterday on the Shanghai Clearing House, an inter-bank clearinghouse authorized by the People's Bank of China and the Ministry of Finance.
The ministry posted a profit of 4.29 billion yuan in the first half, the statement said.
The ministry is under increasing financial pressure as it would continue to finance projects, Ou Guoli, a professor of Beijing Jiao Tong University, was quoted by today's Beijing News.
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