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May 7, 2016

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SOE-issued bond risks ‘controllable’

RISKS in bonds issued by China’s centrally administered state-owned enterprises are “controllable,” the state assets supervisor said yesterday after a number of recent debt defaults spooked investors.

The State-owned Assets Supervision and Administration Commission made the conclusion after assessing the risk of defaults from the country’s 106 such SOEs.

The assessment showed central SOEs were well capitalized and their performance was improving.

Companies are under debt pressure in industries such as steel, oil and coal. Bonds issued by them totaled 4.05 trillion yuan (US$623 billion) as of the end of March, according to SASAC data.


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