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国家体改委规划试点司司长吴天林在海口召开的“中国股份经济发展国际研讨会”上,提出中国股份制改革应探索开辟十三条途径。股份制改革在中国已有十多年的实践,为了使国有企业股份制改造有实质性的突破,这位来自经济改革政策制定部门的官员提出: ——首先应扩大股票发行规模,继续选择符合条件的大型骨干企业进行公司制改造,到境内外上市。——优势企业兼并其它企业,可以采取控股办法,也可以采取参股办法。——产业关联度强、产品协作关系密切的企业之间可以相互转股,将双方企业改为有限责任公司。——引入新的投资者,进行债权、股权转换。拨改贷、基本建设经营基金贷款、财政借款转为国有企业资本金时,尽量采取入股办法,将债权变为有限责任公司的股权。对债务重组的试点企业,可将银行债权折扣出售给新投资者,由其对企业进行股份制改造。
Wu Tianlin, Director of the Planning and Pilot Research Division of the National Commission for Economic Reform, held the “International Symposium on the Development of China’s Stock Economy” held in Haikou, and proposed that China’s shareholding system reform should explore 13 ways to open up. The joint-stock reform has been practiced in China for more than ten years. In order to make a substantial breakthrough in the transformation of the state-owned enterprises’ shareholding system, the official from the economic reform policy-making department proposed: - First, expand the scale of stock issuance and continue to select the eligible stocks. Large-scale backbone enterprises reformed the company system and went public on the domestic and overseas markets. - Advantageous enterprises may merge with other companies and may adopt a shareholding approach, and they may also adopt share options. —— Companies with strong industrial correlation and close product collaboration can transfer shares to each other and change the two companies to limited liability companies. - The introduction of new investors for debt and equity conversion. When transferring funds for loans, capital construction fund loans, and financial borrowings into state-owned enterprises’ capital funds, the company will try to adopt a stock-taking method and convert the creditor’s rights into shares of a limited-liability company. For pilot companies that have restructured their debts, they can sell bank credits to new investors, and they will reform the company’s shares.