China's railway ministry posts debts of 2 trillion yuan
- By Yang Xi
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China.org.cn, August 2, 2011
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The Ministry of Railway posts debts of 2 trillion yuan, according to a report released by the ministry. |
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China's railway ministry posts debts of 2 trillion yuan |
铁道部负债两万亿 |
| China's Ministry of Railways revered first quarter losses to post profits of 4.29 billion yuan (US$667 million) for the first half of this year, but it ended the second quarter deeper in debt than ever, owing creditors 2 trillion yuan (US$311 billion), according to a report released by the Shanghai Clearing House. | 昨日，铁道部财务司公布的《铁道部2011年上半年主要财务及经营数据报告》显示，铁道部所属运输企业2011年上半年盈利42.9亿元，总负债首破2万亿，负债率为58.53%。 |
| The report by the interbank clearinghouse said the ministry's debt-to-assets ratio, a gauge of financial health, reached 58.53 percent at the end of the second quarter, reflecting the heavy debt burden incurred by the country's rapid railway expansion. | 财务数据报告刊登在“上海清算所”网站。据了解，“上海清算所”是银行间市场清算所股份有限公司商标，是经财政部、中国人民银行批准成立的专业清算机构。 |
| The railway ministry reported revenue of 352.55 billion yuan (US$ 55 billion) in the first half of this year, and posted profits of 4.29 billion yuan (US$ 667 million), putting the agency back in the black after big losses in the first quarter. | 报告显示，铁道部所属运输企业营业总收入为3525.5亿元，利润盈利42.9亿元。 |
| The ministry reported losses of 3.76 billion yuan (US$ 584 million) in the first quarter, which it has attributed to price hikes of raw materials and diesel fuel. | 根据铁道部之前公布的2011年第一季度主要财务数据报告，第一季度亏损37.6亿元。铁道部新闻发言人王勇平表示，亏损主要原因是原材料价格上涨和柴油价格上涨。 |
| It had total assets of 3.4058 trillion yuan (US$ 529 billion) by the end of the first quarter of this year, and its asset-liability ratio hit 58.24 percent. | 铁道部2011年第一季度财务数据显示，铁路企业总资产为34058亿元，总负债19836亿元，负债率超过58.24%。 |
| The railway ministry has a high asset-liability ratio, indicating it is under significant financial pressure, said Ou Guoli, a professor at Beijing Jiaotong University. It will continue the financing, which will lead to more debts, Ou said. | 北京交通大学教授欧国立分析说，从目前数据看，铁道部的负债和负债率都不算低，财务压力比较大。按目前的趋势，铁道部下一步的融资会更大，负债也会进一步加大。 |
China's business press carried the story above on Tuesday.
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