Capital Operation And State-owned Enterprises Reform

With the deepening of the state-owned enterprise reform, the goal of this reform is clear gradually. It must be on the basis of meeting the needs of economic structure change, carry on state-run economic layout and structure strategically readjustment. According to our country's present market situation, Reform of state-owned enterprise must accord with objective law and inherent demand that state-owned economy play a leading role and market of economic development, Invigorate large enterprises while relaxing control over small ones, Attach primary importance to quality and efficiency, Distributing rationally most in order to realize existing resources. An extremely important part as enterprise resources -Capital, has played a very important role in resource distribution. Whether the capital is used correctly or not, the direct or indirect of determining the state-owned enterprise reform. So, enterprises should pass capital circulation possibly, Optimize enterprise capital person who dispose way come effective disposition and use had by it all tangible and incorporeal capital, Make it can turn into value-added activation capital, realize the goal of capital, appreciation this, to the maximum extent. In this case, the capital operation arises at the historic moment. At present, is it reform state-owned enterprise to face, the heaviest task of capital operation to vitalize stock advantage, optimize the structure of capital.To enterprise, realize it is a great strategic policy about enterprise's development that the capital is run in fact effectively, it is one of the important strategies of enterprises under a market economy condition. As the enterprise capital operation of the content with annexation, purchasing, participating in by shares, controlling interest, recombination, intangible assets capital operation, etc. The state-owned enterprise during some reforms goes on like a raging fire in recent years. Because it is the realistic effective way that our country vitalizesstate assets stock, adjusts the industrial structure, realizes fundamental transition of the style of economic increase under the economic system at present. So, this will be to the economy of our country, especially deep influence emerges in the state-owned economy, and become concerned focuses of people , focus question in quite long one period in the future in our country. This text is divided into five chapters. Chapter one, the general theories of capital and capital operation. This chapter draws this concept of the capital operation through the brief introduction to the capital, and through explain meaning , division , purpose , content of forming etc. of capital operation make reader have a simple understanding to this concept of the capital operation briefly. Chapter two, the development course of the domestic and international capital operation. This chapter regards time as preface to be brief to introduce five climax of annexing abroad at first, then explained die domestic capital operation course from financial capital operation and two respects of capital operation of property right, carry on generalization of summing-up compare to above-mentioned content finally, for finding state-run capital operation question storing in lay hint foreshadowing. Chapter three, the capital operation state of the state-owned enterprise. This chapter reviews the course that the state-owned enterprise carries on the reform, combine chapter two "China and foreign countries which enterprises merge compare " and then discover the question existing in the present capital operation of our country and then, probe into the necessity question that the state-owned enterprise carries on the capital operation further. Chapter four, the state-owned enterprise carries on the mode of the capital operation and suitability appraisal. This chapter is a focal point of this text, introduce assets securitization, foreign capitals merge and issue convertible bond three mode and feasibility that use among state-owned enterprise reform of capital operation these emphatically. Co...