Case Study Of Bankruptcy Reorganization Of Chongqing Iron And Steel

Today’s world economy is no longer closed to the country,but the door is open.The sustainable and healthy development of enterprises is an important pillar for the steady operation of the economic market.Therefore,when enterprises choose to go bankrupt due to financial difficulties,it will cause large-scale economic downturn.The global economic crisis in the 19 th and 20 th centuries is the best proof.So,all countries in the world have begun to pay attention to the bankruptcy reorganization system originated in the United Kingdom.This system provides the possibility of regeneration for enterprises with bankruptcy conditions but with reorganizational value.Since the reform and opening up,China’s capital market has shown a momentum of rapid development,and the number of listed companies have mushroomed,followed by a series of growth problems,because the traditional bankruptcy system--liquidation and reconciliation can not meet the requirements of enterprises,so China introduced the bankruptcy reorganization system in the "bankruptcy law" issued in 2007,providing a new option for listed companies when approaching bankruptcy.At the end of 2015,the Chinese government proposed a supply-side reform,and General Secretary Xi Jinping listed "de-capacity" as the most problem to be solved."De-capacity" bears the brunt of solving a large number of zombie enterprises in China.The "China Zombie Enterprise Research Report" shows that the steel industry zombie enterprises accounted for51.43% of the industry,which is bound to be accompanied by a large-scale bankruptcy reorganization of the steel industry.Since most of the researches on bankruptcy and reorganization in China’s academia focus on the legal level,few scholars have studied how bankruptcy and reorganization can help enterprises "reinvigorate the rebirth" from the accounting level.Therefore,this paper selects the new trend based on the future development trend of bankruptcy reorganization.After the implementation of the Bankruptcy Law,Chongqing Iron and Steel Corporation Limited,which completed bankruptcy and reorganization at the end of 2017,was the subject of research;at the same time,Chongqing Iron and Steel Bankruptcy Restructuring is the reorganization of the state-owned listed company with the largest capital and debt range in China,the first case The “A+H” listed company was reorganized,and the first listed company in the steel industry was reorganized,and it was also identified as a classic case that was exceptionally significant and unprecedented.Through the research on the bankruptcy reorganization of Chongqing Iron andSteel,it can make up for the blank of the case study of bankruptcy reorganization of listed companies in the steel industry.The text first uses the literature research method to sort out and summarize the motivations,risks and effects of bankruptcy reorganization,comprehensively and objectively understand the research content of bankruptcy reorganization,and guide the research ideas of this paper.After that,this paper introduces the case study method.The background information of Chongqing Iron and Steel Bankruptcy Reorganization analyzes the difficulties faced by Chongqing Iron and Steel,the necessity of reforming,the effect of reforming and the experience of successful reforming.Finally,this paper summarizes the various kinds of bankruptcy reorganization brought to Chongqing Iron and Steel.Impact: Avoiding bankruptcy liquidation,preventing further deterioration of market performance,significantly improving production and operation,reducing financial risks,and achieving win-win for stakeholders;at the same time,it is also the sustainable and healthy development of Chongqing Iron and Steel in the future.Effectively implement bankruptcy and reorganization,and how the regulatory authorities can improve bankruptcy and reorganization and put forward their own views.