"debt" Retreat Mechanism Analysis

Accompanying the transform of Chinese economy style from plan economy to market economy and promotion of reforming and opening, the deep contradiction begins to be revealed. Because of government and enterprise confusion and property rights confusion problems and contraction influence, the state-owned banks and state-owned enterprises badly accumulate a large quantity of unhealthy loan. The unhealthy loan rate reaches more than 25%. The Chinese government, therefore, established four Financial Assets Management Corporation (known as AMC) through legal procedure to centrally solve the unhealthy loan between banks and enterprises by the investment bank means such as creditor's rights transforming shareholder's rights (abbreviated as CTS), assets redeeming debt, etc.Among the means, CTS is the main and most efficient investment bank way and Chinese government pay high attention to it. Meeting concerning financial was held in 1998. A special notification was sent to notify the related spirit of CTS, because CTS is not only the efficient way to eliminate bank's financial venture and meliorate enterprise's financial condition but also responsible for helping enterprise to turn deficit to profit and build modern enterprise system. Misunderstanding of policy, no-good operating of measure, however, may departure the pre-designed direction to cause "bilk economy venture".Based on above mentioned, the author studied the CTS issue detailed and deeply according to the spirit of "Bravely discover and seek the truth" and forward the "consummate the ingression and exiting mechanism for CTS" main idea from the direction of assuring successful practice of CTS theory.The author thinks the creditor's rights and shareholder's rights are two key points of CTS. Firstly, how to income determining the threshold and quality of CTS, Secondly, for four AMC how to hold share and how to change the shareholders 'right to cash determining the bulwark and quality of CTS. As the four AMC are just period shareholder, only the efficient incoming and exiting and the consummating of the incoming and exiting mechanism can guarantee successful practice of CTS in order to establish the relationship of banks and enterprises again and promote the marketing procedure.Therefore, This thesis will respective discuss the incoming mechanism of CTS and exiting mechanism of CTS to proof the central question namely how to consummate the incoming and exiting mechanism for CTS. it' structure, accordingly, has three sections:Section One: Preface. As the prologue, this section will discuss the deep reasons deducted from facial phenomenon of CTS: property rights and market problem. And explain the necessary and the aim of CTS. Thus come the main and central ideas of this thesis: consummating the incoming and exiting mechanism for CTS.Section two: the incoming mechanism of CTS. This chapter' structure has three sections: The first, principle of the incoming of CTS. The Second, feasibility analyzed for CTS. The third, antidote for solving problems cased by CTS' incoming practice. On the basis of analyzing the condition of Beijing cement plant, the author discussed and proofed the mean ideals that are which kind of creditor's rights can be transformed to shareholder's rights, why and how..Section three: the exiting mechanism of CTS. This chapter' structure has two sections: Firstly, the exiting way of CTS from enterprise by taking back shares carried by AMC with cash. Secondly, the exiting way of CTS from marketplace by shares transfer. Here, the author discussed two questions: the first is how to accelerate building property system during the period of exiting from enterprise. The second is how to speed market economic development during the period of exiting from market...Generally, China's CTS issue is a hot and difficult issue during the deepening of reform at present. There are various ideas. The author also wants to distribute herself to this issue.Your kind reviewing to the defect of this thesis will be highly...