| Chinese commercial bank has experienced several significant innovations since Reform and opening up . From unitary system to binary bank system, from special bank to commercial bank, the intensity of reformation becomes higher and higher. The achievement is also satisfying. However, since joining into WTO, Chinese commercial bank has been confronted with much heavier pressure in both business innovation and management of ill assets, we all fall far behind from some foreign banks. Aware of the inferior position we are on, our state-owned commercial bank has set out the innovation of system and property right. In recent years, four state-owned commercial banks have begun to prepare for property right innovation. Finance reorganization, the introduction of strategic investors and some other work are undertaken. This is a brand new exploration, and all the results are unknowable. The government holds clearly supporting attitude, and allocates 45 billion RMB to China Construction Bank and Bank of China. But, can the ability of competition of our state-owned commercial banks be enhanced? As the first experimental bank, Chinese Construction Bank came into market in Hong Kong successfully. It is a significantly beneficial experience for the other state-owned commercial banks. Through analyzing shareholding transformation and IPO of CCB, we can take advantage of the useful experience and abandon the draft, supplying helpful experiences for the shareholding transformation reform of other owned commercial banks. The structure and main content of this article are as followed: The first chapter introduction mainly demonstrated the study background, meaning, method, and basic study content. The second chapter is the start point of this article, commencing on the discussion that the state-owned commercial banks must change to survive, this chapter analyses the necessity of China Constructions Bank's (CCB's) IPO. The third chapter analyses detailed the whole process of CCB's IPO. This chapter has three parts according to the steps of CCB's IPO: the first step, analysis of finance reorganization. The finance reorganization persisted for nearly 8 years. In time scale can be divided into two parts. One is the government salvation during the period of 1998-1999, the other one is finance reorganization, which starts from investment on December the 30th in 2003. The fact of t he two periods indicates that Central Bank and Government plays decisive role in CCB's finance reorganization finance reorganization. Thus Spain, Chile and Argentina, in which finance reorganization are dominated by Central Bank and Government, are analyzed. We can analyze their experiences to improve the finance reorganization of our commercial bank. Finally, by studying the finance reorganization of both foreign banks and China Construction Bank, we proposed some policy suggestions on the finance reorganization of our state-owned banks. The second step of CCB's IPO ―― introducing investors, consummating the analysis of company management structure. This chapter generalizes the origin, the result of introducing stratagem investors,and the process establishing American bank and Temasek as stratagem investors, based on which the reason of introducing stratagem investors, revenue and venture are analyzed, and some suggestions on the choosing stratagem investors are given.; the third step, CCB begins the course of IPO, this chapter starts from the five records which are made by CCB's IPO, divided this project into three periods, the first is choosing investing bank, the second is the origin and ending of IPO, the third is the game process, and then analyzed the problems of choosing consignee and fixing prices in detail, and some countermeasures are proposed. The forth chapter appraise the CCB's shareholding transformation reform and IPO in general. It is divided into three parts. The first one is as far as profits are concerned, how much benefits state-owned commercial bank can make from the stock market. The second one is analyzing the venture of state-owned commercial bank, taking CCB's IPO as an example. The third one is summarizing the viewpoints of CCB's IPO, including the following three viewpoints, proper occasion, equitable price, proper arrangement of Options. The fifth chapter summarizes this paper in some extent, and proposes some suggestions on the trends of future innovation and development. The studying methods of this paper are as followed: 1. The method of combining of generalization and specialization. We analyze the successful experiences and theories to apply them in the innovation of state-owned commercial bank, demonstrating the unification of individuality and commonness. 2. The method of combining of macroscopic analysis and microscopic analysis. We applied the method of microscopic analysis in CCB, which was considered as the stress of study. Meantime, we analyzed the innovation of our state-owned commercial bank macroscopically, demonstrating the unification of macroscopic and microscopic methods from the point to plane. 3. The method of combining of theory and practice. 4. The method of history analysis. The summarization of general disciplines of CCB's shareholding transformation reform and IPO is based on the historic analysis. 5. The method of induction and generalization. The creative ideas of this article are demonstrated in the detailed analysis of the whole process of CCB's shareholding transformation reform and IPO. Looking on CCB's shareholding transformation reform and IPO comprehensively from the angle of financial reorganization, introducing stratagem investors, and IPO, summarizing the fundamental viewpoints of CCB's shareholding transformation reform and IPO in some extent, analyzing the benefits and loss of state-owned commercial bank in the process of shareholding transformation reform and IPO, and finally summarizing the general discipline of the innovation of state-owned commercial bank, reconstruction of shareholding transformation reform and IPO. |
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