Multi-site brewing of state-owned enterprises to integrate "new actions" In the second half of the year, we will usher in the tide of mergers and acquisitions of state-owned enterprises

The merger and reorganization of local state-owned enterprises is accelerating. The reporter was informed that recently, including Guangdong, Shanxi, Sichuan and other countries have introduced a number of local state-owned enterprise reform programs, taking mergers and acquisitions as an important means of optimizing assets and proposing specific "road maps" and "timetables", and is expected to usher in state-owned enterprises mergers and acquisitions in the second half of the year. Intensive landing tide.
The reporter learned that the current state capital of Guangdong is in the process of brewing new moves, and 36 provincial enterprises will be compressed, which is expected to set off a new wave of restructuring of state-owned enterprises. Although there are no specific plans for how 36 state-owned SOEs can be compressed and integrated, the Guangdong Provincial State-owned Assets Supervision and Administration Commission has studied and formulated the “Provisional Adjustment Plan for Provincial State-owned Enterprises”, which defines the overall concept of integration and targets one enterprise and one policy for different enterprises. Formulate provincial-level enterprise adjustment and reorganization plans, mature one and promote one. Similar assets of hydropower, engineering tunnels, finance, highways, airports, ports, etc. under different provincial enterprises may be integrated.
In June, Shanxi Province also issued four supporting documents, such as the “Guiding Opinions on Deepening the Reform of State-owned Enterprises' State-owned Enterprises”, which explicitly require that capital operations be actively carried out, and the platform of state-controlled listed companies should be fully utilized to compete with homogenization and industry. The related listed companies and the unlisted assets business promoted professional restructuring through market-oriented methods.
The Sichuan Provincial Financial Work Bureau, the Sichuan Provincial State-owned Assets Supervision and Administration Commission, and the Sichuan Securities Regulatory Bureau jointly held the “Ministry of Zhejiang Province 2017 M&A and Restructuring Training Meeting”, proposing to formulate a series of policy documents and detailed measures to promote more Listed companies have grown through mergers and acquisitions.
"State-owned enterprises carry out mergers and acquisitions in the capital market, and their advantages are mainly reflected in the following three aspects. First, the competitive advantage, state-owned listed companies are mostly leading enterprises with strong competitive strength in the industry, which have an important influence on the development of the industry. It is capable of attracting M&A enterprises; secondly, capital advantages, state-owned enterprises often have strong financial strength and asset scale; third, policy advantages, state-owned enterprises enjoy the inclination of national policies, and they also have many advantages in obtaining resources, which is conducive to the promotion of mergers and acquisitions. "A state-owned person said.
In addition, further acceleration of capacity reduction is also an important task for the restructuring of state-owned enterprises in the future. Recently, the "Opinions on Promoting Supply-side Structural Reform to Prevent and Resolve the Overcapacity of Coal-fired Power Generation" jointly issued by the National Development and Reform Commission, the Ministry of Finance, the Central Bank, the State-owned Assets Supervision and Administration Commission, and the Ministry of Industry and Information Technology, etc., proposed to encourage and promote large-scale power generation groups to implement restructuring and integration. Encourage upstream and downstream enterprises in the industrial chain such as coal and electric power to play a synergy effect in the industrial chain, and support advantageous enterprises and main enterprises to integrate coal power resources through asset restructuring, equity cooperation, asset replacement, and free transfer.
"In the process of promoting restructuring, we pay attention to the effect of restructuring, can we achieve 1+1>2, can we achieve the benefits of restructuring." Shen Ying, chief accountant of the State-owned Assets Supervision and Administration Commission, said that from the overall effect of the restructuring of central enterprises, the benefits are gradually emerging. And will play a better role in the future. Shen Ying also said that cultural integration and re-layout are the difficulties after the merger and reorganization of enterprises. "For example, after the merger and reorganization of Baowu, some low-end production capacity of Baosteel and Wuhan Iron and Steel will be removed, involving a large number of personnel placement. Last year, WISCO went. In the process of production capacity, more than 30,000 people were placed in the diversion, and a lot of detailed work was needed.” She said that these work largely determined the effect of the reorganization.
Li Jin, chief researcher of China Enterprise Research Institute, pointed out that one of the main functions of reorganization and integration is to reduce the homogenization competition between central enterprises and state-owned enterprises, and to concentrate resources on the medium and high chains of industries and industries with strong demand, so as to further Make bigger and stronger and better state-owned enterprises. On the one hand, restructuring and integration can improve the ability of enterprises to “go global” and improve the international competitiveness of state-owned enterprises in the process of “One Belt and One Road” construction. This is the current trend of enterprise development; on the other hand, structural adjustment and increased resource concentration. It is also the need for the development of state-owned enterprises. Therefore, he believes that the reorganization of enterprises should be internally integrated through corporatization and market-oriented operations, and the advantages of restructuring, restructuring, and resources should be brought into play.