| Sinee the 1980s, have been following the financial globalization complex advancement and the international capital movement acceleration, because the economical periodic undulation and bubble economy this disappears other is long, as well as economic system reforming and so on many aspects factors, many national and the local banking industry appeared the large amount not good property. The property quality low already became puzzles and fetters the shackles which many national banking industry developed, enormously has affected these national finance systems steady movements and the economy continues the health development. Specially at the end of the 90's Southeast Asia finance crisis eruption, is causes some state economy development to suffer the serious attack, even has induced the individual country political crisis.Our country commercial bank's not good property amount huge, poses the serious threat to the national economy health movement and the financial system stable security, has become the our country next step of reform and the development barrier, also will be the focal point which domestic and the international society will pay attention, the long time tows not definitely can cause the question to be more and more serious, even will have the possibility to create the financial crisis.Our country bank not good property origin is extremely complex, mainly has following several aspects the reason: (1) under the planned economy system, the "series receives series" and "dials changes loans the loan which history and so on" policy leaves behind down to form not good loans; (2) 1,992 - in 1993 economical heat, the large amount fund flows to the real estate, the stock market and so on; (3) for many years building redundant project, credit fund effect even more difference; (4) local authority to financial organ intervention; (5) the financial organ internal management is bad and so on.In order to dissolve the bad assets of the bank as soon as possible, use the foreign successful experience of handling bad for reference, The Central Party Committee, the State Council determine and establish Xinda, the east, Great Wall, China melt four financial property management companies 1999, Purchase, manage, handle four some bad assets of solely state-owned commercial bank specially, In the hope of and reach to the maximum extent saving the assets from damage , reduce the lost purpose. By June of 2000, four property management companies had already received the bad assets of bank of 1,300 billion yuan, Account for four major bank bad assets total amount yuan of 3/4s.Though bank bad assets strip and come out already, handle bad beset with difficulties assets these, It is not as simple as conceptual design originally one to be far. And debt-to-equity swap main a kind of assets that are used handle the way at present, With handle deepening of process, expose and happen a lot of drawback day by day, main drawback its lie in apt to make the bank fall into the circulation of risk investment. If the bank can change out the stock rights held at proper price withinshorter time , May strengthen the mobile risk of the bank at great degree; Besides, the managerial personnel of the commercial bank is not familiar with the management of enterprises , Therefore difficult to guarantee effectively that the bank can improve the management states of enterprises in time after obtaining the control of enterprises. In fact, in ripe market economy country, debt-to-equity swap first reorganization ways that generally uses, Even even and use it, there is certain restriction condition Among the so-called transition economy country, the debt-to-equity swap has been expected very high, But in reality, the debt-to-equity swap is only supplemented as one kind, the scale is very limited.And relevant expert think bad assets particularly like ' ice-roily ', hold among hand the longer time have, Melting the more, there is the lower value now. Seek one new-type and effective finance innovative tool the research task wave in front o...
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