writing deficit
1.On the basis of summarizing the experience, we improved the methods on using the provisions for writing off the bank non-performing and bad debts last year, concentrating our efforts on priority sectors, mainly for the bankruptcies and shutdown of the state-owned large and medium deficit-ridden enterprises in the key sectors such as textile, coal, nonferrous metal, metallurgy, military industry and so on.
2.As many as 435 large and medium-sized projects in total were arranged in three batches all the year around. Including the carried-over projects in 1998, more than RMB 70 billion of provisions for writing off the bank non-performing and bad debts would be required. Once those projects are completed, it may reduce as many as 860 large and medium-sized deficit-ridden enterprises on an accumulative basis.
