What are the steps in the process of restructuring state-owned enterprises?

Legal analysis: the procedure of state-owned enterprise restructuring is as follows: first, set up a restructuring working group; Second, apply for reorganization; The third is the formulation and preliminary examination of the restructuring plan; Fourth, the reorganization plan is submitted for approval; Fifth, assets verification and property rights definition; Sixth, asset evaluation; Seventh, organize the implementation according to the approved plan; Eighth, go through the relevant procedures for the registration of the new company.

Legal basis: Law of People's Republic of China (PRC) on State-owned Assets of Enterprises.

Article 40 The enterprise restructuring shall be decided by the institution that performs the responsibilities of the investor or the shareholders' meeting of the company in accordance with legal procedures. The restructuring of important wholly state-owned enterprises, wholly state-owned companies and state-owned capital holding companies shall be reported to the people's government at the corresponding level for approval.

Article 41 When an enterprise reorganizes, it shall formulate a reorganization plan, specifying the organizational form of the reorganized enterprise, the disposal plan of enterprise assets, creditor's rights and debts, the changes in equity plan, the operation procedures of reorganization, asset evaluation, financial audit, and the selection of intermediary agencies. Where enterprise restructuring involves the placement of enterprise employees, it shall also formulate an employee placement plan, which shall be examined and approved by the employee congress or the employee congress.

Forty-second enterprise restructuring should be carried out in accordance with the provisions of assets verification, financial audit, asset evaluation, accurate definition and verification of assets, objective and fair determination of asset value. Where the enterprise restructuring involves converting the physical objects, intellectual property rights, land use rights and other non-monetary properties of the enterprise into state-owned contributions or shares, the discounted property shall be evaluated in accordance with the provisions, and the confirmed price shall be used as the basis for determining the amount of state-owned contributions or shares. It is not allowed to convert the property into shares at a low price or engage in other acts that harm the rights and interests of investors.