ON SEMICONDUCTOR CORPORATION

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China should improve local govt debt risk controls - official

01/15/2022 | 03:09am EDT
A security surveillance camera overlooking a street is pictured next to a nearby fluttering flag of China in Beijing

BEIJING (Reuters) - China should keep improving institutional systems to prevent and resolve local government debt risks, the country's vice finance minister said on Saturday.

Xu Hongcai told a forum in Beijing that China should balance promotion of investment with the prevention of risks, including in determining the scale of new government debt, and prevent excessive debt growth from affecting fiscal operations.

The ministry will work together with the National Development and Reform Commission to strengthen management of investment areas for special bonds, including prohibitions on funding vanity projects and projects not in the public interest, he said.

China will also crack down on illegal and irregular debt raising, and back-door debt financing, he said.

The call for improved risk controls comes as China plans to speed up issuance of local government special bonds this year to help boost investment and cushion a slowing economy.

(Reporting by Rong Ma in Beijing and Andrew Galbraith in Shanghai; Editing by Simon Cameron-Moore)


ę Reuters 2022
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Financials (USD)
Sales 2022 7 995 M - -
Net income 2022 2 077 M - -
Net Debt 2022 316 M - -
P/E ratio 2022 12,7x
Yield 2022 -
Capitalization 25 419 M 25 419 M -
EV / Sales 2022 3,22x
EV / Sales 2023 2,89x
Nbr of Employees 31 650
Free-Float 71,4%
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Mean consensus BUY
Number of Analysts 29
Last Close Price 58,50 $
Average target price 72,44 $
Spread / Average Target 23,8%
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Managers and Directors
Hassane El-Khoury President, Chief Executive Officer & Director
Sam Thad Trent Chief Financial Officer, Treasurer & Executive VP
Alan Campbell Director
Johannes M. C. Stork Chief Technology Officer & Senior Vice President
Wei-Chung Wang Executive VP-Global Manufacturing & Operations
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