Related News
Fitch: Railway ministry revamp will not impact ratings
By Richard Fu |
March 11, 2013, Monday
|
Online Edition
Online Edition
CHINA'S plan to revamp the Ministry of Railways will not impact the ratings of China Railway Group Ltd, the nation's leading railway construction company, according to Fitch Ratings.
That's because the company's strategic importance to China will not change irrespective of the final details of the ministry's restructuring.
The central government announced over the weekend the debt laden Ministry of Railways will be split into two entities. The regulatory and administrative functions will be transferred to the Ministry of Transport while commercial operations will be given to a new state-owned company, China Railway Corp.
Details of the restructuring, including timing, have not yet been announced.
Fitch said it believes the proposed restructuring will not change the strategic importance of rail transportation in China. Railway investment will likely remain at levels as previously announced, it said.
The ministry accounts for the bulk of China Railway Group's revenue.
While it's uncertain which entity will take over the ministry's varying legal and financial obligations, China Railway Group, along with China Railway Construction Corp, will remain key railway construction companies in China, Fitch said.
That's because the company's strategic importance to China will not change irrespective of the final details of the ministry's restructuring.
The central government announced over the weekend the debt laden Ministry of Railways will be split into two entities. The regulatory and administrative functions will be transferred to the Ministry of Transport while commercial operations will be given to a new state-owned company, China Railway Corp.
Details of the restructuring, including timing, have not yet been announced.
Fitch said it believes the proposed restructuring will not change the strategic importance of rail transportation in China. Railway investment will likely remain at levels as previously announced, it said.
The ministry accounts for the bulk of China Railway Group's revenue.
While it's uncertain which entity will take over the ministry's varying legal and financial obligations, China Railway Group, along with China Railway Construction Corp, will remain key railway construction companies in China, Fitch said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
