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The Research On The Legal Orientation Of Financial Assets Management Corporations

Posted on:2005-10-04Degree:MasterType:Thesis
Country:ChinaCandidate:L WangFull Text:PDF
GTID:2156360125958618Subject:Economic Law
Abstract/Summary:PDF Full Text Request
The four Financial Assets Management Corporations were set up in 1999,which marked the beginning of such a substantial operation stage that our country set out to manage and deal with the non-performing assets of commercial banks owned by state. In China, Financial Assets Management Corporations had no longer been a concept in theory, but had become an important legal entity in the economic operation. Then, what is more important is how to orient Financial Assets Management Corporations in law.From the day of their birth, Financial Assets Management Corporations are actually products of policy, which are engaged in dealing with the state-owned commercial banks' massive non-performing assets which resulted from our country's financial policy and operation system , and whose funds were allotted by the Ministry of Finance. While Saving assets and avoiding losing as far as they can is their main function, they also must try their best to urge the reform of the commercial banks and corporations owned by state. However, they came into being just on the base of The Byelaw of Financial Assets Management Corporations, which decides the Financial Assets Management Corporations' special position in legal relationship with other entities during the course of managing and disposing the non-performing assets. Neither the scale, price and mode of purchasing the non-performing assets, nor the enterprises and scale of transforming credit into share ownership are in control of Financial Assets Management Corporations. Such things are all stipulated by administrative agencies. In other words, Financial Assets Management Corporations are not theoretically real corporations. Such administrative operation mode, however, apparently didn't adapt to the needs of the development of socialistic market economy, which has been proved to be true that Financial Assets Management Corporations have been in a jam after running five years. So it's time to let Financial Assets Management Corporations commercialize now. Presently, although there has been no exact answer to what will be Financial Assets Management Corporations' development direction, it is really the best way for them to commercialize and then develop into modern investment bank.Therefore, the Financial Assets Management Corporations are just managing compositive financial institution invested by state, aiming at disposing the non-performing assets of state-owned commercial banks. At the same time, the author want to present such a proposition that our country's Financial Assets ManagementCorporations should develop into modern investment banks through commercialization, then become subsidiary companies of holding company of state-owned commercial banks. Making sure what Financial Assets Management Corporations'orientation in law is will greatly benefit to their operation and development thereafter and in turn achieve our objective of financial safety smoothly!...
Keywords/Search Tags:Financial Assets Management Corporation, legal orientation, non-performing assets, transformation of assets to equity shares, investment bank
PDF Full Text Request
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