核心提要:升级版债转股来了,就是借债借成了股东,“黄世仁”成了“杨白劳”的管家。今年年初,政府确定了今年经济工作的重心在于“去产能、去库存、去杠杆、补短板、降成本”。现在,终于有了一个通过资本市场化解矛盾的办法——通过债转股的方式将一些企业所欠的债券转化为股权。通俗地讲,就是借债借成了股东,“黄世仁”成了“杨白劳”的管家。其实债转股也不是什么新鲜事。15年前,大量央企出现经营困难,最终的结果传导到商业银行,使商业银行的坏账率大增,当年工、农、中、建这 Core Summary: The upgraded version of the debt to the stock market is borrowed into shareholders, “Huang Shiren ” became “Yang white laborer ” steward. Earlier this year, the government determined that the focus of economic work this year will be on “going to capacity, going to inventory, deleveraging, making up shortcomings and lowering costs.” Now there is finally a way to resolve conflicts through the capital market - by converting the debt owed by some enterprises into equity through debt-to-equity swap. To put it in a nutshell, borrowers borrowed into shareholders, and Huang Shiren became a steward of Yang Bailao. In fact, debt to equity is not new. Fifteen years ago, a large number of central SOEs experienced operational difficulties. The final result was transmitted to commercial banks, which greatly increased the bad loans of commercial banks.