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转换国有企业经营机制,建立现代企业制度,在操作中会面临一些棘手的实际问题;第一,财务重组和资金注入;第二,国有资产产权作用的真正实现。 目前,国有预算内企业的负债率达到70—75％左右,流动资金中有90—95％是来自于银行信贷,更具有潜在危机的是,企业负债中据估计有近30％的不良债务。过重的还本付息压力、过低的有限责任能力迫使企业必须进行财务重组。一种引起讨论的方案是“债转股”,即把“拨改
Converting the operating mechanism of state-owned enterprises and establishing a modern enterprise system will face some tough practical problems in operation; first, financial restructuring and capital injection; second, the real realization of the role of state-owned assets property rights. At present, the debt ratio of enterprises within the state-owned budget is about 70-75%, and 90-95% of the liquidity is from bank credit. What is more potential for crisis is that corporate debt is estimated to have nearly 30% of bad debt. Too heavy debt service pressure and too low limited liability force companies to carry out financial restructuring. One of the solutions that led to the discussion was “debt-equity swaps,” which