| State-owned enterprises played an extremely important role in China's economic construction, especially in the planned economy, as the establishment of China's market economy, China's economy is becoming more market-oriented, more competitive. Because of the constraints of the system and mechanism, such defects as regardless of the government functions from enterprise, regardless of the government functions from capital, property rights structure is irrational, internal control,lack of the necessary incentive and restraint mechanisms, which severely restricted the vitality of state-owned enterprises and for the state-owned enterprises which were not conducive to other market players to start a level playing,and made them not only difficult to survive but also have difficulty progressing.In addition, as a solution the state made state-owned enterprises the issue of the daily life of urban residents in employment over the past which give the state-owned enterprises burden of running social enterprises, enterprises of redundancy too many heavily indebted companies These defects and burden can only be overcome through reform, enterprise can only go through the difficulties by restructuring, it was proven to be true through more than 20 years practical experiences in reform and opening, any state-owned enterprises can not avoid this reality.There are the focus of attention focused on the portfolio of state-owned enterprises, the hope that through the reorganization of assets so that a considerable part of the enterprise full of vigor and vitality. Reorganization of assets is one of the major hot spots, but how to use the correct practice, the need to correctly understand the true meaning of the reorganization of assets, as well as state-owned enterprises of the characteristics of asset reorganization to the reorganization of assets as an opportunity to promote the deepening of reform of state-owned enterprises . The situation of low efficiency and stagnancy in the State-Owned Enterprises has aroused extensive concerns of the whole society. At present, people focus on the reorganizing assets of the state-owned enterprises and expect enterprises can radiate vigor though it. Although reorganization has become a hot issue currently, as an opportunity, it is necessary to interpret its real meaning and factors by means of putting the concept into practice to deepen the SOE reform.Reorganizing assets is a significant issue of the reform and development of the SOE as well as an effective method to implement the strategic transformation of the state-owned economy, establish a modern enterprise system, and achieve optimal distribution of economic resources.This study aims at the reorganization of three companies include Sinosteel Jilin Ferroalloy Co.,Ltd., Jilin Ferroalloy Co.,Ltd.----- the remaining enterprise of the Sinosteel Jilin Ferroalloy Co.,Ltd.,and Jilin Ferroalloy Group Co.,Ltd.For various historical reasons, Jilin Ferroalloy Co.,Ltd. and Jilin Ferroalloy Group Co.,Ltd. and the existence of a limited number of legal disputes and potential legal risks, these risks are not properly eliminated and resolved, will jeopardize the production and operation as the main iron in the steel assets of Sinosteel Jilin Ferroalloy Co.,Ltd., security and integrity sexual. Sinosteel Jilin Ferroalloy Co.,Ltd., and Sinosteel in the implementation of the overall restructuring, the enterprise has to solve problems left over by history as a prerequisite for the restructuring, but also the ultimate goal of the reorganization. The state is responsible for corporate responsibility, it is responsible for the employee.They exit side by side as the main part in their each own company, they are all independent legal entities and developed in succession based on Jilin Ferroalloy Plant which was one of the 156 important projects aid by former Soviet Union during the 1 five-year plan.With over 50 years'development, even the firm underwent more than once reform and restructuring, but the main body of production and operation--Sinosteel Jilin Ferroalloy Co., Ltd. has not gotten rid of complicated equity relevance and irregular related transactions and with its parent company Jilin Ferroalloy Co., Ltd. and the troubled Jilin Ferroalloy Group Co., Ltd.. All these lead to Sinosteel Jilin Ferroalloy Co., Ltd. suffering from heavy burden, declining of its comprehensive competitiveness, lacking of sustainable development and confronting with the dual pressures from restructuring & reorganization and survival & development.According to the writer's practical situation, the paper points out the existent problems in reality via adopting the theory of reorganization and analyzing the background of the companies, puts forward the plan as well as associated measures to the reorganization of the remaining enterprises of Sinosteel Jilin Ferroalloy Co., Ltd.The study holds that the reorganization to the remaining enterprises should contribute to the development of Sinosteel Jilin Ferroalloy Co., Ltd.. We should expand and strengthen the core business, boost restructuring with reorganization on the whole and radically solve the problems left over by history.After Restructuring and reorganizing, it will achieve the policy bankruptcy of Jilin Ferroalloy Group Co.,Ltd, its limited land,effective options, and other assets, will be entered in the Sinosteel Jilin Ferroalloy Co.Ltd as the way of reorganization of assets,to reliaze the rational allocation of resources and prevent loss of the state-owned assets, the elimination of barriers to equity, debt obstacles in a big least and in final write-off Jilin Ferroalloy Co.,Ltd. Ultimately, Jilin Ferroalloy industry remaining a main platform, that is Sinosteel Jilin Ferroalloy Co.,Ltd.Restructuring and reorganizing of the company is a inevitable product in the particular history, through a series of restructuring the enterprises obtain the actual effect of the exclusion of non-performing assets, spin-off Social enterprise,to address the formation of the heavy burden of financial debt in history, to avoid legal risks, protect the security of assets of the investors in a big least, to realize the rational allocation of resources, so that the structure of the company's assets will become more reasonable, it will enhance the company's solvency, in order to created favorable conditions to do the main and the rapid development of enterprisesIn the choice of research subjects of this paper, Jilin Ferroalloy, the typical state-owned enterprises was selected. In the restructuring of the two enterprises: Jilin Ferroalloy Co.,Ltd and Jilin Ferroalloy Group Co.,Ltd of Sinosteel Jilin Ferroalloy Co.,Ltd, which have the relation to the policy bankruptcy, reorganization of assets, resources, integration, it is not an isolated problem, but a very complex, involved in many aspects, such as different segments of the integrated task, the complexity is no precedent of the restructuring of state-owned enterprises in history of. Therefore, the research of the subject indeed has a profound significance restructuring for state-owned enterprises and restructuring, The restructuring of Jilin Ferroalloy is not only the problem itself, but also the restructuring of whole ferroalloy industry of China. Therefore, this research is also has the great significance the development of the industry. For the upcoming restructuring of state-owned enterprises, it will play the role of reference. |
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