国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

Chinese steel producers' profits surge as capacity slashed

Source: Xinhua| 2019-01-14 20:19:05|Editor: Shi Yinglun
Video PlayerClose

BEIJING, Jan. 14 (Xinhua) -- Chinese steel producers saw their profits surge in the first 11 months of 2018 as the sector's overcapacity was slashed amid the supply-side structural reform, according to an industry association.

Data from the China Iron and Steel Association (CISA) showed the combined profits of its members' enterprises jumped 63.54 percent year on year to 280.2 billion yuan (about 41.5 billion U.S. dollars) in the first 11 months of 2018.

Their debt ratio declined to 65.74 percent by the end of November, down 3.39 percentage points from a year earlier, with half of the enterprises seeing a debt ratio of below 60 percent.

The improvement in corporate profitability came after the country fulfilled its goal of reducing the steel industry's capacity by 100 million-150 million tonnes from 2016 to 2020 ahead of schedule.

By the end of 2017, steel overcapacity had already been slashed by over 115 million tonnes.

"The market environment has improved markedly, and the bloated capacity has been effectively addressed," said Yu Yong, CISA chairman, at a conference of the association.

However, he cautioned that the foundation for sustained profitability remains shaky as costs have increased while steel prices have started to retreat due to such factors as lower demand and growing output.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001377432471
主站蜘蛛池模板: 公主岭市| 吴堡县| 庆阳市| 蓝山县| 丘北县| 临桂县| 鄂州市| 内乡县| 玛纳斯县| 留坝县| 屯昌县| 麻城市| 孝昌县| 綦江县| 容城县| 天镇县| 东宁县| 西峡县| 伊川县| 湛江市| 裕民县| 阿勒泰市| 巴塘县| 通山县| 乐陵市| 资源县| 乐安县| 建宁县| 沂水县| 新巴尔虎左旗| 吕梁市| 临汾市| 山阴县| 博乐市| 焉耆| 秭归县| 手游| 大邑县| 舞阳县| 台东县| 白山市|