Abstract:

Microcosmically, an enterprise which is in reasonable and moderate liabilities may get the capital it needs for its production and management and facilitate its economic benifits, and macrocos-mically, it may promote a better distribution of social economic resources and strengthen a control power of state-owned economy. In view of the positive role of liabilities and current low rate of debt in our quoted companies, we may consider transforming stockholder's rights into creditor's rights as an important means to decrease the proportion of state-owned stocks in a quoted company so as to fulfil the dual goal -making the capital structure of a quoted company at its best and realizing state-owned assets in turn.

Key words: enterprise in debt, rate of assets and liabilities, transforming stockholder's rights into creditor's rights