To settle the problem of the high owesproportion of the state-owned corporations, our government establish a policy "debt-to-equity swap" ,which includes 2 styles, one is regulated by the government's policy, and the other is adjusted by the market. Whereafter we talk about is the policy way which is a objective need for the innovation and an important strategic decision to improve the innovation of the state-owned corporation.The policy way we will discuss means that, the government constitutes the Asset Management Corporation to purchase the bank's bad assets, and change the relation between the bank and the corporation who are the renter and the debtor to that between the AMCand the corporation who are the holder and held.
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