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| Author: | Zhang, Junkuo |
| Title: | To realize strategic realignment of state-owned enterprises through capital market (original in Chinese) |
| Journal: | Economic Management (c)
1999 : 4, p.7-9 |
| Index terms: | CAPITAL MARKETS PUBLIC CORPORATIONS CORPORATE RESTRUCTURING CHINA |
| Language: | chn |
| Abstract: | The fundamental solution for the problems of State-owned enterprises is to implement strategic realignment, which should mainly rely on the capital market. The disadvantages existing in the capital market at present are: 1. The stock market lacks hierarchy, which is not suited to the enterprise restructuring and realignment. 2. The proportion of the State-owned shares and shares of legal persons of the marketing enterprises are higher and cannot circulate, which hampers the merger and realignment of the marketing enterprises. 3.The development of the institutional investors is lagged behind, which does not favor the stability of the capital market and also restricts the structural improvement of enterprises. 4. Lack of financial arrangement which supports the merger and realignment of enterprises, such as bank loan, issue of shares and bonds. |
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