Case Study On The Resolution Of The Debt Crisis Of Changhang Oil Transportatio

2014 is destined to be the historic year in the history of the development of China Changjiang National Shipping(Group)Corporation Nanjing tanker Corporation(hereinafter referred to as the "NJTC").From "the first stock delisting central enterprises" to successfully resolving the debt crisis,this special experience has become a hot topic of concern in the financial field.Throughout the course of more than ten years of development,it has experienced "industry prosperity—business expansion—performance growth—industry recession—business difficulties-years of losses—debt crisis—forced to stock delist—resolve the crisis—operating difficulties—the new lease of life-relist on the market".Such a development history of change is extremely rare in China’s modern economic development process.For such a "legend" of the enterprise,how to decline from prosperity,and from a close call to rebirth,is worth our study.NJTC successfully resolving the debt crisis is one of the few major financial risk resolved incidents,which achieved a win-win result.The final result is the condensation of the collective wisdom of government,enterprises,financial institutions and other stakeholders.Therefore,this paper focuses on the analysis of the causes,solutions and results of NJTC’s debt crisis,deep mining,and analysis with the methods combined with theory,literature analysis,and case analysis.First of all,the concept of debt crisis and related laws are summarized,providing a theoretical basis for further analysis.Second,make a deep analysis of the formation of the debt crisis and,solutions and the implement of results.Finally,based on the analysis of the above,get the enlightenment for state-owned enterprises to resolve the debt crisis.According to the theoretical analysis and case study,this paper draws the following conclusion:First of all,enterprise development must respect the objective economic law,and the market regulation influenced by "supply-demand relationship".Expansion strategy making also needs to follow the changes.Secondly,all parties in dealing with such problems must respect the objective facts,and carry out investigation,negotiation,select scheme with the attitude of "for the purpose of solving problem".Thirdly,in resolving the major debt crisis,the government should do a good job in coordination and guidance,avoiding over-intervention,and take a market-oriented vision to deal with the problem.Fourth,in the handling of such events,to be creative,reasonable innovation is necessary,and enterprises need to be given more opportunities for rebirth,to achieve win-win situation.Fifth,the resolution of the major debt crisis cannot be accomplished by a single means but"combination boxing".Sixth,the resolution progress must be legal and reasonable,and achieve fair and just in the framework of laws and regulations.