去年，宝钢与武钢的合并成为业界最为关注的焦点，合并后的钢铁航母宝武集团的改革之路也备受关注。A few days ago, Ma Guoqiang, Secretary of the Party committee and chairman of China Baowu group, told the economic information daily that as a pilot of state-owned capital investment company, the group is also making a positive layout, clarifying reform ideas and formulating relevant pilot schemes.
The reporter learned that since the Third Plenary Session of the 18th CPC Central Committee proposed to “support the reorganization of qualified state-owned enterprises into state-owned capital investment companies”, SASAC has been actively promoting the pilot exploration of state-owned capital investment and operation companies by central enterprises.In July 2014, SASAC selected COFCO group and State Investment Corporation to carry out the pilot work of investment company.In 2016, SASAC further expanded the pilot scope of investment companies, increased the number of investment and operation companies, and added six new enterprises as the pilot units of state-owned capital investment companies, such as Shenhua Group, China Minmetals and Baowu group.The pilot of state-owned capital operation companies was carried out in Chengtong Group and China Guoxin.The total number of pilot enterprises of “two types of companies” has reached 10.
The relevant person in charge of SASAC disclosed to the reporter that this pilot project of state-owned capital investment and operation company mainly explores from three aspects: first, develop the specialized operation of state-owned capital, and explore the effective investment and operation mode; second, explore the relationship between SASAC and enterprises, and improve the supervision mode of state-owned assets; finally, promote the internal management of state-owned capital investment and operation company Reform, explore market-oriented enterprise management mechanism.
”In the next step, SASAC will transfer more shares to state-owned capital operating companies for pilot, and the scope of the pilot will be further expanded.”A state-owned source said.He said that according to the current positioning and arrangement, state-owned capital investment and operation companies will also have the functions of industrial operation and capital investment and operation, invest in and develop important industries, key fields, strategic emerging industries and advantageous pillar industries of the national economy, promote industrial agglomeration, transformation and upgrading, and optimize the distribution structure of state-owned capital.
Accelerating the implementation of local layout pilot projects
According to the data provided by SASAC, in 2016, 52 state-owned capital investment and operation companies were reorganized and established in each province.In 2017, local state-owned assets and state-owned enterprises will speed up their layout.上海、浙江、四川、黑龙江等省相继出台了具体方案。一批资本实力强、市场竞争力强的国有资本投资运营公司已经或即将成立。
2月9日，浙江省首家省级国有资本运营公司浙江省国有资本运营有限公司正式成立，注册资本100亿元。Feng Bosheng, Secretary of the Party committee and director of the state owned assets supervision and Administration Commission of Zhejiang Province, said that the establishment of the company is to improve the allocation and operation efficiency of state-owned capital by establishing a professional platform for market-oriented operation of state-owned capital and using market-oriented methods.The state owned assets supervision and Administration Commission of Zhejiang Province will co-ordinate and integrate various resources of provincial enterprises, and support the company to give priority to participating in projects such as reorganization and integration of provincial enterprises, asset securitization and capital operation of listed companies.
Effective operation mechanism should be established for the shift
”The reorganization and establishment of state-owned capital investment and operation companies is not a general reorganization and integration, nor is it a simple rebranding and renaming, nor is it a case of overlapping.Not all state-owned enterprises need to be reorganized into investment and operation companies, nor must all state-owned enterprises be incorporated into investment and operation companies.”Zhang Xiwu, deputy director of SASAC, said in an interview with the economic information daily.In his view, the key point is to change the system, mechanism and mode.
However, it is worth noting that from the current reform and exploration, there are two main problems: first, it is difficult to determine the positioning of state-owned capital investment and operating companies; second, the operation mode and supervision mode are not mature and finalized.
Chen Qingtai, former deputy director of the development research center of the State Council and a famous economist, believes that, in a sense, the proposition of the re reform of state-owned enterprises is not “how to improve the management of state-owned enterprises” by government agencies, but the shift from “enterprise management” to “capital management”.
In his view, the premise of realizing this transformation is that the state-owned assets must be transformed from “enterprises” in physical form into “capital” in value form, otherwise there will be no “capital” for supervision.After capitalization, the object of investor’s supervision is the state-owned capital investment and operation organization, which no longer has a direct property right relationship with the entity enterprise, and has no right to pass through the investment and operation organization to intervene in the company it invests in. In addition, “managing capital primarily” means that in the competitive field, state-owned assets should be capitalized and securitized as much as possible.在一些特殊领域，政府不应排除直接管理企业的可能，而应局限于小范围的市场失灵，这基本上不影响资源的市场配置。