The Research Of Central Enterprises Delisting Problem

Is known as "the eldest son of the republic " is an important part of national economy, firmly grasp the country’s economic lifeline. State itself to China’s social responsibility, economic responsibility of safety responsibility, whether it’s domestic suffered from natural disasters or expatriates in a crisis, state is always the first to stand up, meet with the economic crisis, even if again difficult state also won’t laid off workers, made a great contribution to maintaining social stability, the state also concerning the impact of the national economy and people’s livelihood industry against the transnational giants. Sasac was founded in2003, state-owned enterprises restructuring process is accelerated, the overall economic benefits increase year by year, only8,2004central enterprises to enter the world top five, in2013, that figure rose to44. However, not all state can rapid advances in developing all the way, a lot of listed state-owned enterprises practice for several years of losses and the delisting risk warning, appear even listed on the suspended state.Usually think, is to enjoy the policy of welfare state, in the private enterprises and the general management of state-owned enterprises has more advantages, so when the state after delisting problems, loss of listed state-owned enterprises. But in fact have a number of state administrative monopoly is very limited, most of the state is by its own strength to participate in market competition, the so-called policy benefits not much impact on their business, but may be due to its central position to withstand practies, administrative interference, social responsibility, and many other external factors.As the largest ST,2011,2012for two consecutive years of losses of billions of cosco. This article will select the typical cases of China cosco as ST state, from the industry environment, the management behavior, financial status, such as position of state-owned enterprises further analysis the loss of reason, and in2013China ocean management behavior, the turnround method is analyzed, and concluded that the current system under the background of the possibility of delisting, finally to point with surface trimming retreat city problems come to the conclusion, put forward the corresponding policy recommendations. Hope to be able to win objective and fair evaluation for part of the ST state.There are six sections in this article. The first chapter is introduction, mainly introduces the research background, research significance of this paper, main content and research method; The second chapter is literature review, this paper mainly introduces the domestic and foreign experts and scholars to the listed company delisting issues related to research and conclusion; Third chapter introduction to state retreat city problems, this article discussed the scope of the state, state in detail what are the problems, and to choose cosco for the reason of the typical cases; The fourth chapter is China ocean losses case analysis, is the key part of this paper, the concrete content includes industry in China cosco loss reasons, analyzes reasons for business reasons, state position, with the domestic industry listed company operation and financial condition in terms of comparison. The fifth chapter is ST state "shell" in2013, first introduced in the past the "shell" of the enterprise ST method are introduced, and then list the many ST2013state "shell" means, at last introduces China ocean current to avoid delisting by selling assets. Sixth chapter for this article summary, in a comprehensive analysis of cosco loss causes and introduces the "shell" measures of part of the state, in the third chapter puts forward the state of delisting problem solutions, and puts forward some policy Suggestions to solve the problem of state retreat city, finally expounded in this paper, the research limitations.