Research Of Chongqing Yufu Development Trend

Among the state-owned enterprise reformation modes, the mode of dealing with the state-owned enterprise's bad debts "in pack" carried out by Chongqing Yufu Asset Management Company has achieved great success and become a meaningful example for the affairs of debt dealing, company reorganizing, insolvent company closedown and company change.This article is to describe the businesses of present debt dealing, cash flow turnover and asset reorganizing, and company development and investment of Yufu from the perspective of current business developing modes and basic functions. And upon this, the article analyses the risk of the current modes, and points out that the problems of investment revolving, excessive asset concentration caused by the over-use of land leverage, supervision over the companies with bad assets, refinancing of the ex-corporate in debt and risk of multi-investment are critical in the process of Yufu's development. Besides, this article also brings forward the proposal of Yufu's future development direction, that is to develop as a local capital holding company. The article analyses the situation of the capital holding companies in China and the management problems in stratagem orientation, organization protection and management control. It also elaborates on the functions, feasibility, company change method selection and economic issues in multi-development in the process of Yufu's company change. At the end of the article, it provides the system guarantee during the Yufu company change, that is to establish asset dealing existing system, professional manager base and isolation system among different asset management departments. Besides, this article also takes the management mode of Singapore Temasek for instance to point out the direction of company structure change during the process of Yufu's way to a local capital holding company.