Xiao Xin said
The reform of the company’s system has reached a historic breakthrough: “The actions of the double hundreds” led to the deepening of complex reforms, the “mixed reform” continued to gain momentum, the investments of state enterprises, the expansion of the operating company … In the upcoming 2018, the reform of state-owned enterprises affects deep water areas. Hard bones, new harvests. Recently, Xinhua News Agency published an article entitled “Revising Reforms in the Main Position of the 2018 State Enterprise Reform”. Xiaoxin is divided for you as follows:
The reform of the company’s system has reached a historic breakthrough: “The actions of the double hundreds” led to the deepening of complex reforms, the “mixed reform” continued to gain momentum, the investments of state enterprises, the expansion of the operating company … In the upcoming 2018, the reform of state-owned enterprises affects deep water areas. Hard bones, new harvests.
"Understanding from a strategic point of view, deepening the central position of the reform of state enterprises in the new era" "Full understanding of the critical importance of increasing the viability of micro-market structures" … At the symposium on the reform of state-owned enterprises held on October 9, there was a series of clear views “High-profile” to mark future reform priorities, emphasizing determination and repeating expectations. The Central Economic Working Conference recently proposed “to accelerate the reform of state assets and state enterprises,” which indicates that a new round of state assets and state enterprise reforms will be ready for development.
Integration and reorganization over time
It is imperative to strengthen and optimize state capital and regulate the state economy.
As a result of the general restructuring of the construction group CNNC, the China National Nuclear Corporation, the Wuhan Academic Institute of Posts and Telecommunications, the number of enterprises under the supervision of the State Commission for the Supervision and Management of Property was 96 this year.
Looking at the whole country, SASAC at the provincial level contributes to the restructuring and integration of 36 enterprises in first-tier enterprises, including energy, transport, medicine, real estate and other areas.
Professional restructuring that goes beyond the enterprise’s boundaries is also accelerating: taking enterprises with the dominant core business as the leading factor, SASAC continues to promote the integration of coal, steel, and environmental protection resources, and is exploring a plan to create a central company that deals with asset recovery. for offshore equipment.
In addition to mergers and acquisitions, a number of supply-side structural reform measures have accelerated.
By the end of November, central enterprises reduced the number of legal entities by more than 12,000 people, reduced labor and management expenses by 44.1 billion yuan, and accumulated 1,589 "things that could be in danger."
Focusing on reducing leverage and reducing debt, the State Commission for Supervision and Management of State Assets signed a target workbook with all central enterprises to support enterprises in improving their assets and liabilities through equity financing and market debt-for-capital exchanges. At the end of November, the average ratio of assets and liabilities of central enterprises was 66%, a decrease of 0.4 percentage points on an annualized basis.
Turning to the quality development of the central enterprise, the body becomes healthier and steps more sustainable.
"Double Hundred Actions" fully launched
The pilot is the task of reform and an important method of reform.
In August 2018, the reform of state enterprises "Double Hundred Actions" was launched, the purpose of which was to give the reform "one look at the end" and open the last mile of the reform of state enterprises.
For the implementation of the "double action" there is no need to participate in a series of separate pilot projects. Instead, we must support the experience of previous state-owned enterprise reforms, encourage mass innovation, promote differentiated and individualized comprehensive reforms, and carry out reforms in the “deep-water zone”. “New problems are found.
In this operation, more than 400 central enterprises and local state-owned enterprises were selected. The pursuit of these corporate reforms is very relevant.
To date, the State Duma’s State Administration, which heads the group of leading enterprises in the reform of enterprises, has organized local exchange meetings for science, industry, and export-oriented “double enterprises” in Zhejiang, Shandong and Jiangsu provinces. Many enterprises have put forward clearer ideas through extensive benchmarking and exchange of experience.
The industry believes that with the continuous deepening of the “double-hundred actions”, it will create a group of “reformed leading soldiers” with a leading role and will continue to promote the powerful potential of the reform of state-owned enterprises.
"Mixed changes" to change the new mechanism
Open UHV building investment in social capital! The State Grid Corporation recently announced that, based on a preliminary study of mixed ownership reforms, such as the gradual distribution of electricity, trading institutions and pumping power plants, the “mixed reform” will be expanded and modernized.
As an important breakthrough in the reform of state-owned enterprises, this year’s “mixed reform” continues to deepen:
At the level of the central enterprises, the localization and promotion areas have become more active. Local businesses have become more active. More importantly, “mixed and reformed” enterprises began to pay more attention to the formation of new operating mechanisms and the development of state capital and society. Capital does have a “chemical reaction”.
For example, thanks to the introduction of strategic investors, the formation of several boards of directors, the rationalization of institutional staff, the restructuring of business units, the introduction of innovative product services and the introduction of incentives for equity participation … China Unicom eliminated the inherent flaws through a series of "combined blows" and reached "V" forms of business performance. the opposite.
More and more people realize that “mixing” is a means, and “change” is a goal. Based on the fact that most state-owned enterprises have reached a mixed level of capital, in order to further enhance the effect of mutual promotion of various capitals, additional efforts are needed to restructure corporate governance mechanisms and business models to adapt to the new situation of economic development.
Two types of pilot expansion companies
The recent Central Economic Working Conference emphasized the acceleration of the transition from a managed enterprise to managed capital, the reorganization of a group of state-owned capital investment companies, and the formation of a number of state-owned capital management companies.
It is linked to the supervision system and is related to the management of the enterprise. The pilot of these two types of enterprises requires both supervisory and supervisory institutions, and investment supervision relations with investment and operating companies, a supervisory regime and an effective way to verify a state-owned capital investment transaction covering many areas of reform.
Based on 10 pilot projects that were previously identified by central enterprises, at the end of 2018, two types of companies welcomed new members: the Commission on Supervision and Management of State Assets determined that 11 central enterprises, such as the Aviation Industry Group, the National Electricity Investment Corporation and SINOMACH, are pilot enterprises of public investment companies.
In the country as a whole, all districts are also being actively investigated, and at present, 122 local state-owned enterprises are implementing pilot projects related to two types of companies.
Expand the authority to exempt from power and constantly rationalize "interface relations" between government regulators and two types of companies: pilot enterprises changed headquarters functions, making group management more efficient and more adaptable to the requirements of specialized platforms, investment companies – strategic core the holding is the basis for the implementation of strategic mergers and acquisitions and specialization, while operating companies in the US ram based on financial holding companies, promote the rational flow of state assets, the maintenance cost and the increase in the cost of …
Trial system, trial mechanism and trial mode. Since more experienced central enterprises are included in two types of pilot companies, the next step will be a quick update and a more significant role in the overall reform of state assets and enterprises. ,
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