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| Author: | Xu, Jianmin |
| Title: | Reform of state-owned enterprises can't do without capital market (original in Chinese) |
| Journal: | China Reform (c)
1998 : 8, p.26-27 |
| Index terms: | CAPITAL MARKETS PUBLIC CORPORATIONS CHINA |
| Language: | chn |
| Abstract: | Firstly, the capital market provides effective ways to solve state-owned enterprises' problem of bad debts. Due to institutional reason, state-owned enterprises have accumulated huge bad debts over a long period of time. According to statistics, the average liability ratio of state-owned enterprises in 1997 was as high as 72.3 per cent . Funds needed to settle these debts are about RMB 2000 billion. Secondly, the strategic adjustment of state-owned economy may be accelerated effectively via the capital market. That is to say the reshuffling of assets, debts and personnel of large and medium-sized state-owned enterprises as well as the optimization of resource allocation can be carried out with the help of the capital market. |
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