对国有企业债转股问题的思考

The Consideration On Debt Change Stock In State-Enterprises

减轻国有企业的债务负担 ,化解国有商业银行的资产风险 ,组建资产管理公司实行债转股是方法之一。但在目前经济和社会信用背景条件下 ,对债转股作用不能高估 ,在实施过程中将出现一系列的问题 ,如果处理不当 ,会妨碍债转股政策的顺利实施和预期目的的实现。债转股作为一种缓解矛盾的手段有其积极意义 ,但它成功的关键还在于能否以此为契机 ,催生出一个国企良性运行的新体制 :切实规范企业治理制度 ,彻底转变经营管理机制 ,提高企业的资产报酬率。

Forming a property management company and carrying out the debt being turned into share is one of the methods to lighten the burden of debt on the state enterprises and to eliminate the property risk of state commercial banks.But under the present economic background and social credit's circumstances,we cannot appraise the effedts of turning the debt into share highly.If we cannot deal well with the series of problems that arise during being put into effect,to carry out the policy of turning debt into share smoothly and to realize the desired purpose will be obstructed.As a method to realize the contradiction,turning the debt into share has the active significance.But the Key to its success is whether using it as the rurning point to induce a new system to operate the state enterprise virtuously,that is to standardize the enterporise's governging system practically,to change the management system thoroughly and to increase the enterprise's rate of property payment.