Merger and reorganization of key industries such as machinery is expected to be announced during the year

The integration of central enterprises has started the battle for a hundred days. The reporter learned on the 11th that the Central Committee of the State-owned Assets Supervision and Administration Commission of the State Council, while organizing collective learning, agreed unanimously that it must adhere to the state-owned assets management system established by the Party's 16th National Congress, speed up adjustment and restructuring, and optimize the layout and structure of the state-owned economy.

Previously, the replacement of the head of the SASAC has led some market participants to worry that the SASAC has been pushing for changes in the direction of state-owned assets restructuring. However, the information delivered during the collective learning of the SASAC Party Committee Central Committee shows that the adjustment and reorganization of state-owned assets will not slow down.

According to the SASAC arrangements, by the end of this year, the central SOEs will have to adjust to 80 to 100 households.

Corporate mergers and reorganizations significantly accelerated

With the vigorous promotion of related departments, the "big play" of merger and reorganization of Chinese enterprises has begun quietly. The reporter learned that mergers and reorganization proposals for key industries such as automobiles and steel are expected to be announced during the year. In addition, local state-owned assets are expected to set off a reorganization boom in the second half of the year.

On September 6, the General Office of the State Council issued the "Opinions of the State Council on Promoting Mergers and Acquisitions of Enterprises" (hereinafter referred to as "opinions"). The "Opinions" mentioned that it would be tilted from the fiscal, financial, and land policies, and clearly stipulate the elimination of institutional obstacles to corporate mergers and reorganizations, and actively promote corporate mergers and reorganizations.

After a half-month interval, Minister of Industry and Information Li Yizhong stated that promoting industrial restructuring and transforming the economic development mode will continue to be the focus of the “Twelfth Five-Year Plan”. To this end, efforts will be made to guide and promote the merger and reorganization of enterprises to form a more dynamic development and resource allocation. More efficient industrial model. Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology, specified specific measures to promote mergers and acquisitions.

Since September, the state’s policy to promote mergers and reorganizations of enterprises has significantly increased. Relevant departments have also accelerated the introduction of supporting measures or rules, and the trend of mergers and reorganization of enterprises "accelerates".

In this wave of mergers and reorganizations, six major industries, such as automobiles, steel, cement, machinery manufacturing, electrolytic aluminum, and rare earths, were named several times, and were promoted as the focus.

It is understood that the Ministry of Industry and Information Technology has begun drafting specific policies to promote the merger and reorganization of auto companies. It is expected that this policy will be announced by the end of 2010. In addition, the "Guiding Opinions on Accelerating Joint Restructuring of Iron and Steel Enterprises" for the steel industry is also expected to be introduced in the short term.

In fact, as early as in the series of industrial revitalization plans promulgated by the State Council, the encouragement of corporate mergers and reorganizations has been referred to many times, and mergers and reorganizations of enterprises have also taken actions in various places, especially in steel and coal industries. However, most of the previous corporate mergers and reorganizations were realized through the promotion of administrative forces.

Analysts pointed out that administrative mergers and acquisitions will increase integration costs and may affect the effectiveness of integration. In the future, corporate mergers and reorganizations must pay more attention to market-oriented operations and give full play to the basic role of the market mechanism.

As one of the protagonists of the reorganization, central enterprises and local state-owned enterprises also play an important role in this year's restructuring tide. With the promotion of the State-owned Assets Supervision and Administration Commission of the State Council and local state-owned asset supervision authorities, local state-owned assets are expected to set off a reorganization boom in the second half of the year.

On September 19, deputy director of the SASAC, Huang Shuhe, pointed out clearly that local SASACs should pay attention to clarifying the functional orientation of the state-owned economy in the region, optimize the layout of the local state-owned economy, promote the reform of the state-owned enterprises' shareholding system, optimize the ownership structure, and further guide local governments to pay attention to their efforts. State-owned economy's introduction of tie action.

According to statistics, state-funded regulatory authorities in Shanghai, Henan, Heilongjiang, Zhejiang, Anhui, Jiangxi, Chongqing, Yunnan, Shanxi, Shandong, Guangdong and Shaanxi have issued documents to propose the integration of local state-owned assets through the capital market.

The SASAC's "Several Opinions on Further Strengthening the Supervision of Local State-Owned Assets" issued on September 25 mentioned that the state-owned asset management company should be given full play as an important platform for the SASAC to promote the restructuring of enterprises and the operation of state-owned capital. According to the report of Industrial Securities, after the introduction of this document, with the support and guidance of SASAC, the speed of local state-owned asset integration will increase.