招商证券认为，银行大规模债转股可行且必要。
China Merchants Securities believes that the massive scale of debt to equity is feasible and necessary.
应从制度上规定AMC对债转股企业的绝对控股权。
And it should be stipulated that AMC should have the absolute right to control the debt-to-equity swap enterprises.
持有人代表的百分之五十四的债券已同意甜债转股提供。
Holders representing 54 percent of its bonds have agreed to a sweetened debt-for-equity offer.
债转股成功的关键在于资产管理公司如何将股权成功转让。
The crucial important success is how to transfer the ownership of stock of assets managing company successfully.
但是在债转股实践中，资产回收风险依然困扰着国有商业银行。
But in practice state-owned commercial Banks are faced with the grave problem of asset recovery.
债转股是将银行与企业的债权债务关系转化为持股与被持股关系。
Transmitting Debt into stock"means that the claimable assets and debt between banks and enterprises are changed into the relationship of stock holder and stock holdee."
债转股是我国为化解金融风险，搞活国有大中型企业的重要战略举措。
To shift-debt-to-share is an important strategic means by which China can resolve the financial risks and energise the middle-and-large-scaled state-owned enterprises.
资产管理公司对债转股企业股权回购事宜按财政部资产处理有关规定执行。
The repurchase by an asset management company of the equity of a swap enterprise shall be handled pursuant to the relevant provisions of the Ministry of Finance on asset disposal.
此外，今天还将是通用汽车债券持有人决定是否接受债转股协议的最后期限。
In addition, General Motors today is the bondholders will also decide whether to accept the deadline for debt-equity swap agreement.
作者强调不能过重看待债转股所减少的企业利息支出，因为这只是转移困境。
The writer stresses that we should not over-estimate the reduction on the enterprises interest expenditure by changing debts into shares.
通过兼并、收购、债转股、关闭和破产等方式，化解了一些金融机构的风险。
Risks with some financial institution have been resolved by mergers, acquisitions, debt-equity conversions, closures and bankruptcies.
此外，26日还将是通用汽车债券持有人决定是否接受债转股协议的最后期限。
In addition, 26 GM bondholders will also decide whether to accept the deadline for debt-equity swap agreement.
改善债转股企业的治理质量，应在继续发挥政策效应的同时逐步强化市场原则。
To improve the debt-to-equity firm's governance quality, we should gradually strengthen the market principle at the same time to exert the policy effect.
怎样剥离，是否债转股等一系列问题，又再次引起了经济学家和许多学者的关注。
A series of problems such as how to strip the non-performing loan, whether it's political or commercial, will debt-to-equity swap be the way, have attracted great attention of economists and scholars.
“债转股”作为一种化解银行不良债权的一种措施，风险较小，但实施难度较大。
As a measure to solve the problem of great amount of bad claims, the policy transforming claims into shares, has little risk but big difficulty in carrying out.
然而许多企业的经营者对债转股认识存在偏差，并且，在具体的操作上还很不规范。
Many managers misunderstand the method and what they have done is not up to standard.
所以评价债转股要从企业的资金成本、资本结构、企业的价值等方面综合考虑、分析。
So we should consider and analyze these measures comprehensively from its capital cost and structure, and the enterprises' value.
分析债转股过程中存在的博弈风险、道德风险及退出风险，有益于正确认识债转股的功效。
Through analyzing the risk of game, risk of morals and risk of resignation in the process of bond changing stock, this paper hopes to help recognizing correctly the effect of bond changing stock.
当前，我国资产管理公司在处置资产的过程中，已经将债转股作为一种主要的资产处置方式。
At present, in the course of dealing with assets, China's assets Management corporation has applied debt to equity swap as a major pattern.
如果一切按计划进行，通用汽车将达到债务的债转股协议，其贷款的那一天，从而抹去支付。
If all goes as planned, GM will reach a debt for equity swap agreement with its lenders by that date, thereby erasing the payment.
我们应在债转股对社会经济主体的影响的基础上，提出解决债转股所出现的问题的相应对策。
Based on the effects of the changing on the main body of economy, some solutions are suggested.
以四大坏账银行的经验看，与转让不良资产相比，债转股可令银行不良资产回收率提高近10%。
Drawing from the experience of the four "bad Banks", compared with the transfer of non-performing assets, the debt to equity can make the recovery rate of Banks' bad debt rise by nearly 10%.
企业债转股后的股权价值是资产管理公司以及国内外众多介入不良资产市场投资人所关心的问题。
Assets Management Corporations and participants in bad assets market care a lot about the value of Equity Interest.
如何针对其负面影响采取对策，发挥其辅助国企改革的积极作用，是当前债转股的着眼点和要务。
How to use proper countermeasures to eliminate the policy's side effects and drop a positive influence on reform of national enterprise is the current key task of debt-swith to-stock policy.
本文指出“债转股”的潜在风险主要有财政风险、银行风险、社会信用风险，并相应提出了防范对策。
The article points out the "debt changing into stock" risks which having finance risk; Banking risk; social credit risk and putting forward keeping a way countermeasures.
本文指出“债转股”的潜在风险主要有财政风险、银行风险、社会信用风险，并相应提出了防范对策。
The article points out the "debt changing into stock" risks which having finance risk; Banking risk; social credit risk and putting forward keeping a way countermeasures.
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