China ‘s central bank and other latest support steel coal industry to resolve comments excess capacity , said to be a multi-level financial support for Coal and Steel resolve excess capacity , deleveraging and reduce costs, support steel coal enterprises to expand exports and to go out and support the bank accelerate the industry bad asset disposal .
Comments pointed out that actively adjust the layout and the consolidation and reorganization of new capacity, but not the steel, coal enterprises to provide comprehensive financial services; support enterprises in mining rights, accounts receivable and other assets as collateral for financing; strict control of new irregularities capacity credit input.
“Active tracking and docking local governments and the central enterprises to solve the steel, coal embodiment surplus production capacity, early response may lead to the risk of default.” Opinion said.
Comments pointed out that to speed up the innovation of credit products, interest rates will improve pricing management, rationally determine the steel and coal sector loan interest rates, unreasonable conditions when additional non-banking loans to the steel coal enterprises, intermediary business strictly control the level of charges.
According to comments, China will support the steel and coal industry to strengthen direct financing including bonds, to explore all kinds of measures to increase trust and risk mitigation tools; to encourage iron and steel, coal enterprises to take advantage of overseas market stocks, bonds and asset-backed securities issuance, encourage Insurance agencies involved in its direct financing.
It reported that China will actively and steadily push forward the steel, coal and corporate debt restructuring, to support its issuance of corporate credit bonds for debt restructuring.