Our reporter Du Yumeng
2022 is the final year of the three-year reform of state-owned enterprises. By the end of last year, 70% of the targets set for central enterprises and local state-owned enterprises have been successfully completed.
"Securities Daily" reporters found that 31 provinces (autonomous regions and municipalities directly under the Central Government) in the country have successively held the key tasks in 2022 specified by the local two councils, and a total of 28 provinces (autonomous regions and municipalities) have clearly stated that they will complete the three-year action task of state-owned enterprise reform. .
"This year's state-owned enterprise reform is bound to be deepened with the goal of fully completing the three-year action plan for the reform of state-owned enterprises." Liu Xingguo, a researcher at the Research Department of the China Enterprise Confederation, said in an interview with reporters that it is necessary to further consolidate the reform achievements that have been achieved. It is also necessary to focus on solving the current reform pain points, difficulties, and blocking points.
It is expected that mixed-ownership reform, the construction of diversified incentive mechanisms, the professional manager system, and the merger and reorganization of state-owned enterprises will become important points of reform this year.
Mixed and reorganized in many places
placed in an important position
Mixed-ownership reform and reorganization have become "standards" in government work reports in many places.
12 provinces including Hebei, Liaoning, Jiangsu, Guangdong, and Chongqing continued to release policy signals for deepening mixed ownership reform; 16 provinces including Shanghai and Anhui mentioned "promoting the optimization and structural adjustment of state-owned assets and state-owned enterprises." Formation of new state-owned enterprise groups in certain fields” and “promoting strategic or specialized reorganization among enterprises”.
Zhu Changming, senior partner of Sunshine Times Law Firm and head of the State-owned Enterprise Mixed Reform and Employee Stock Ownership Research Center, told reporters that mixed reform and restructuring will still be the focus of state-owned enterprise reform in 2022.
In fact, mixed-ownership reform mainly promotes the "reform mechanism" of state-owned enterprises through "mixed capital", stimulates the vitality of market micro-subjects, and promotes state-owned enterprises to strengthen their health, improve quality and efficiency; while restructuring is mainly to adjust structure, optimize layout, and promote state-owned enterprises. Capital goes deep into strategic emerging industries to meet the requirements of industrial transformation and upgrading and high-quality economic development.
It can be seen that mixed ownership reform and restructuring also reflect the close relationship between corporate vitality and economic structure to a certain extent.
It is worth mentioning that the reporter noticed that in addition to Anhui Province's explicit proposal to increase the asset securitization rate of provincial enterprises to more than 50%, Chongqing City and Ningxia Hui Autonomous Region have further focused on the capital market, respectively proposing to promote state-owned holdings. The high-quality development of listed companies and the continuous expansion of the scale of direct financing in the capital market.
Zhu Boshan, general manager of Shanghai Tianqiang Consulting Management Company, told reporters that most of the capital market-related content such as mixed-ownership reform and reorganization mentioned in government work reports in many places are reforms at the level of property rights.
The effective advancement of these reforms can drive the coordinated deepening of reforms at other levels, and the effects can be quickly demonstrated.
Zhu Boshan believes that as the three-year reform of state-owned enterprises enters the final year, in the future, whether it is a central enterprise or a local state-owned enterprise, in addition to continuing to deepen the reform of property rights, on the one hand, it is necessary to improve the corporate governance reform centered on the governance of the board of directors, on the other hand. It is also necessary to carry out the reform of the operating mechanism with the reform of the tenure system and contractualization, and the reform of the improvement of the market-based compensation mechanism as the main content.
The reforms in these two aspects are difficult and slow to bear fruit. Therefore, more attention and support from local government departments are also required.
State-owned economy layout structure
Continuous optimization
Promoting the optimization of the layout and structure of the state-owned economy is an inevitable requirement for making state-owned enterprises stronger, better and bigger and enhancing their core competitiveness.
From a specific path, in addition to the strategic reorganization, specialized integration and mergers and acquisitions involving enterprises, the divestiture of "two non-essentials" (non-main business, non-advantages) and the clearing of "two capitals" (inefficient assets, invalid assets) Retirement is also the key content.
The reporter learned from the State-owned Assets Supervision and Administration Commission that as of now, the completion rate of the clean-up and exit of local "two non-profits" and "two capitals" has reached 87.9%.
In addition, the completion rate of special governance of local key loss-making subsidiaries reached 90.1%.
Although the above work has achieved quite good results, the pace of reform is still going on.
For example, Shanxi Province proposed this year to strive to use 2 to 3 years to promote provincial enterprises to basically eliminate losses, especially those of subsidiaries, and continuously improve their core competitiveness.
The reporter noted that in order to further promote the optimization and structural adjustment of the state-owned economy, Anhui Province, Henan Province and Sichuan Province have proposed more detailed reform goals.
For example, Anhui Province proposed to speed up the integration of resources such as ports, airports, coal and electricity, and implement the action of provincial enterprises to deploy emerging industries; Henan Province proposed to speed up the strategic reorganization of provincially managed enterprises, and create a new industry in construction, cultural tourism, logistics and other fields. Approved flagship powerhouses; Sichuan Province proposed to complete the professional integration of Shudao Group, the integration of civil airports in the province, and the integration of tourism assets of provincial enterprises.
Combined with the previous meeting of the heads of the SASAC held by the SASAC and the meeting of the office directors of the local state-owned enterprise reform leading group, in view of this year's reform of state-owned assets and state-owned enterprises, the meeting proposed to strengthen the industry based on industry, and take strategic reorganization and professional integration as the basis. Means, continue to promote the concentration of resources to the main business and the advantageous enterprises, cultivate more "specialized, special and new" enterprises in combination with the local endowment advantages, accelerate the development of strategic emerging industries, scientifically promote the "dual carbon" work, and build a green and low-carbon cycle Industrial system, and continuously enhance the resilience and competitiveness of the industrial chain and supply chain.
Zhu Changming said that, different from strategic reorganization, specialized integration can promote the integration of similar businesses and similar enterprises.
In view of the current situation of "small, scattered and weak" in some industries, professional integration aims to strengthen and refine the business and take advantaged enterprises as the main body, which can promote horizontal and vertical integration, give full play to the driving effect of the industrial chain, and effectively improve the allocation of resources. Efficiency and the core competitiveness of enterprises, promote the further optimization and adjustment of the layout and structure of state-owned enterprises, and move towards world-class.
(Securities Daily)