ABSTRACT
It is an innovation in China's state enterprise reform to change creditor right into stock right. However, while it settles the enterprise's liabilities, there exist enterprise management risks, market competition risks and moral risks. Therefore, enterprise creditor right should not be simply and unlimitedly changed into stock right, strategic adjustment should be made in the enterprises where the change is made, and at the same time early warning systems, risk relieving systems as well as other counter. However, implementation of this policy is risky. Its success depends on whether we can thoroughly understand the various risks and take effective measures to control them. Risks were examined in detail and suggestions were put forward. This paper analyzes the definition and implementation of debt-equity swap program, based on in-depth analysis of risks in the implementation process of the formation of Debt reasons, to alleviate the debt burden of state-owned enterprises, and promote the healthy development of state-owned enterprises. Finally, the existence of the risk of implementation of the Debt proposed prevention.
［Key Words］Debt into Equity；risk；Asset Management Corporations,
Countermeasure
