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The "Choice Cases of Listed Companies' Debt Clearing in 2006" worked out recently by the Shanghai Stock Exchange (SSE), highlighting the experiences of typical debt clearing of 27 companies, aims to orient 45 SSE companies which have not completed their debt clearing and related parties to the clearing modes and innovative methods.
The "Choice Cases of Debt Clearing" is said to be characterized by typicality, practicability and pertinence. Firstly, it selects typical examples. By analyzing the characteristics, causes and effects of 27 companies' debt clearing, it elaborates the backgrounds and causes of the clearing schemes. Secondly, it gives tips on how to operate by introducing the procedures for examination and approval at relevant departments in the process of clearing. Thirdly, it explains how listed companies formulate feasible schemes according to their actual conditions for effective solutions to problems arising in the clearing process.
An SSE official stressed that the upcoming debt-clearing work would call for high degrees of responsibility, will and discretion on the part of each party to join hands to crack the hard nuts. In the last month, the SSE will focus its debt clearing on the cooperation with relevant departments in urging and helping the rest 45 companies to complete their debt clearing before the end of the year. The SSE will, based on the on-the-spot investigation, carry out window guidance for the listed companies and help those that have not completed their debt clearing to find innovative methods. Just like the process of the equity division reform, the solutions to many problems will rely on innovative schemes and methods.
