| In the course of our country's system reform of state-owned commercial banks, in order to strip and handle the bad loans,we have chosen the method of establishing Asset Management Corporation(AMC) to carry on specialization to handle. As the professional institutions of handling bad creditor's rights assets , The advantage of AMC is that AMC has special legal status and is capable of taking all kinds of measures of investment bank to take over, put in order and handle bad assets synthetically. Hence as professional institutions in managing banks' bad assets, the AMC has advantages in reducing handling cost, lowering management losses and raising handling efficiency. Four AMCs, named XINDA , HUARONG , DONGFANG and CHANGCHENG , were established since April,1999. So far, AMCs have operated for five years, halfway of the time limit set at the beginning. Given gain and loss of five years, what course should follow in the future,all of these demand us to carry on theories summary with thorough study. The more important thing is , the current situation that the present bad assets of state-owned commercial bank of our country take place again is very severe , the banking system reformation and the transition of the managing Construction of state-owned commercial bank have already entered key stage, the bad assets of our state-owned commercial banks can not be stripped once again too. In this case,it has very important realistic meanings that reexamining the function of the AMC and thinking about its future development. The investigative subject in this text is offering theoretical guidance and support for AMC's continuous development, future mode and its business innovation. Over the past five years, by comprehensive utilization of various means, such as pressing, lawsuit, creditor's rights recombination, enterprise recombination, and package sale,The AMCs exercised the general management of bad assets,and at the same time, kept relatively steady handling rate of recovery while speeding up the management. The AMCs practiced various means to handle bad assets, accumulated the experience of purchasing and handling bad assets, innovated a series of ways in handling bad assets and formed their key technical ability to handle bad assets.In five years' practice of assets handling, AMC also exposed its own defects and all sorts of restrictions of its operation environment. First of all, the legal foundation is bad and the policy is not forming a complete set to restrict the operation of AMC. Embodied in: First, there is not special legislation for the running of AMCs and the legal foundation is too bad and the regurations are not adjusted in time, which make AMC difficult to run. Second: means in handling assets of AMC are restricted by the philosophy of dividing management and fettered by the ownership. Next, AMCs in our country have obvious defects in operation mechanism of their own. At present, it was not given the right of investment by the government. The incomplete function prevents it from applying various market-oriented ways, and the assets management is still in the low level. The AMC is not scientifically positioned and faces the pressure of the unclear prospect, which limits the AMC's cognition of the commercial function of its assets and lacks the motives to promote value. At the same time, as a commercial enterprise, the AMCs of our country didn't establish a set of operation mechanism matching the structure of the modern commercial enterprise and the legal person's management, and characteristics of the financial industry. It should be pointed out that it is an important task of the AMCs of our country to support the state-owned enterprise to break away from the predicament, to promote the enterprise to change the operating mechanism , and to improve the structure of enterprise management. But shortage in the shareholder's identity and right, and with the administratization in the debt transferring to share and the " state-own-state-operate" modes in the management of company , AMC's ability...
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