| Since China's reform and opening up to the outside world, with transformation of system and growth of economic scale, mint bad-creditor's rights of commercial banks and heavy debt burden of business enterprises become the most important financial problems calling for solution. Thus, our government has adopted some administrative means, such as pouring money to pay for debt, providing defaulted loan, picking up bad debt reserve, perfecting supervising system and setting up specialized disposition organization. However, the situation that effect and efficiency of bad-asset disposition is not sound results from the absence of principal body of creditor's rights, decentralization of disposing conduct and extensive exist of moral risk. In the view of these conditions, by using the practice and experience, which currently has been succeed in international bad-assets, and combining scale and present condition of bad-assets, condition and character of financial market, this paper carries on the research and investigation, puts forward to establish a bad-assets disposition center of multi-layer stereoscopic type, which is fit for the state of our nation and overlays the whole country. This paper will do research from these points:1.On the basis of reading substantial relevant information, the author summarizes the present condition of bad -asset in domestic commercial bank, analyses the reasons of forming bad-assets and whose origin—the existence of debt chain among business enterprises and elaborates the main practice of disposing international bad-assets.2.To solve the problem of bad-asset means not only deals with present quantity of bad-asset but also restrains increase of bad-asset. It seems that the current disposition means of our country increased level of capital of the bank, lowered bad-asset rate consumedly. However, on the whole, these means can't solve the problems of bad-asset from the root. First of all, the principal body of creditor's right is not explicit; thedisposition behavior only provides a temporary solution not a permanent cure. Originally, creditors are imperfect in loan management in commercial bank because of systematic problems. In addition, the bad creditor's rights are transferred from commercial bank to policy bank and asset managing company whose capital are offered by the country. For these reasons, the subjectivity of the creditor loses the opportunity of its strength and it is of no possibility that the problems of bad-asset can be solved effectively. On the other hand, disposition plans are set up on the basis of supposals. First, mint bad-loan came off commercial bank must be handled effectively. Second, national bank progresses its operating system, thus new bad-loan can not increase or the rate of increase is lower. Third, national economy must keep consistent and rapid increase. However, comparing with reality, these supposals are questionable. Besides, during the process of disposition, government do so much that they do not use market system to distribute resources. In the market led by government, trade information can't be symmetric, which will finally cause desolation of market.3.There are some limitations of solving bad-asses problems by administrative means, so the author researches the characteristics of finance bad-asset in our country and debt chains among business enterprises, puts forward to establish a bad-asset treatment center of multi-layer stereoscopic type so as to realize the generalizing disposition of bad-asset.First of all, detaching debt chain. The key of generalizing disposition is to detach debt chain effectively so as to disintegrate the spread and development of debt, thus restrain debt forming system from the origin. The main method is: commercial bank and business enterprise pack bad-asset and bad-creditor's right and send them to asset center. After arrangement, asset center puts them into bad-asset database, forming bad-asset pool in which they will find debt chain and settle cross-regional credit and debt clean.Second, carrying on capitalizing operation and distinguishing disposition. The disposition center divides bad-asset, which can't be cleaned, into various types and then evaluates and analyses them. After packing and reorganizing every type of bad-asset, To the same kind of asset, which is easy to be cashed or its cash value is easy to be evaluated, the center regards them as the main asset object of security and puts them into asset market after disposing them. To those can be reorganized, packed and financed, the center realizes redistribution of resources by means of transferring debt to stock and trust. To those can be directly cashed by means of selling them, center can operate them through process of auction.4. With putting forward to establish a bad-asset disposition center of multi-layer stereoscopic type that overlays the whole country, there are other relevant problems need to be solved, such as the problems of fixing price, protecting by laws and disposing technique innovation. |
