Author(s)

Guan Xin

Corresponding Author

Guan Xin

Abstract

As market-oriented debt-to-equity swap has prominent comparative advantages over policy-oriented debt-to-equity swap in terms of its path, risk management and ownership design, financial institutions and enterprises in China are following the principle of legalization and actively promoting market-oriented debt-to-equity swap in an orderly manner. Based on the perspective of financial supervision, this paper takes the market-oriented debt-to-equity swap as the research object, and analyzes the institutional structure and legal perfection of China's market-oriented debt-to-equity swap. On this basis, it focuses on the responsibility of the creditor's main body, the debt entity's capital efficiency, the financial supervision legal boundary, the equity trading market mechanism and other aspects, and puts forward the strategic suggestions for perfecting the legalized system of market-oriented debt-to-equity swap in China.

Keywords

Market-oriented debt-to-equity swap, Institutional framework, Legal perfection, Financial supervision