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State Owned Enterprises Mergers And Acquisitions Speed Up: Valuation Logic Change

2017/7/15 22:52:00 75

China'S Central BankMacro EconomyReform Of State-Owned Enterprises

At present, the reform of state-owned enterprises has entered the "rush hour of construction", which is more difficult, more complicated and challenging.

On the basis of consolidating the existing achievements, we must continue to adhere to the problem oriented orientation and continue to intensify the reform of the "combined boxing" and make new progress and breakthroughs in key areas and key links as soon as possible.

After the first quarter of the year, the central enterprises run the "mid-term exam" again. In the first half of the year, 102 central enterprises achieved a business income of 12 trillion and 500 billion yuan and a profit of 721 billion 800 million yuan, representing an increase of 16.8% and 15.8% respectively over the same period, both of which set a new high, of which the single month profit in June was the best in the same period of history.

The good performance has benefited from the continued momentum of macroeconomic stabilization and benefits from the reform of state owned enterprises, the operation mechanism of central enterprises, the layout of state-owned economy, and the state owned enterprises.

Capital regulation

A series of encouraging changes are taking place.

Big changes, big changes, small changes and small ones will not change.

These changes have not only verified the reform of the "direction, measures and ways", but also strengthened our determination to continue to "bite the bones and deep the water area".

Objectively speaking, at present, the reform of state-owned enterprises has entered the "rush hour of construction", which is more difficult, more complicated and challenging.

On the basis of consolidating the existing achievements, we must continue to adhere to the problem oriented orientation and continue to intensify the reform of the "combined boxing" and make new progress and breakthroughs in key areas and key links as soon as possible.

The establishment of a modern enterprise system is the direction of the reform of state-owned enterprises.

This year, the restructuring of state-owned enterprises will be completed. The key is to strengthen the construction of the board of directors.

It is necessary to set up a good board of directors, carry out the functions and powers in major decisions, salary appraisal, selection and appointment, and promote the board of directors to "go from real to real".

promote

Central enterprises

From the "big to the whole" to the "specialized and refined" pformation, we must work hard to push forward the structural reform of the supply side, and continue to lose weight and keep fit, improve quality and increase efficiency.

In the first half of this year, the central enterprises to actively solve the problem of excess capacity of coal production, steel production capacity has completed the annual task, but to prevent the rebound in coal and steel prices, induce some enterprises to increase production capacity in the Ming and Ming.

Aiming at the three year goal of "compressing management level and reducing the number of legal persons", we should not only put pressure on it but also exert pressure on it.

Taking the reform of mixed ownership as a breakthrough, we should stimulate the vitality of the development of state-owned enterprises, enlarge the functions of state-owned capital, accelerate the solution of problems left over by history, help enterprises to carry out light loads, improve the supervision system of state assets, pfer jobs, strengthen supervision and prevent losses, strictly strengthen party building and build high-quality leaders of enterprises.

To seize the favorable opportunity for the central enterprises to operate in excess of expectations in the first half of the year, and persist in pushing forward the reform in depth, we will inject more momentum into the development of state owned enterprises in the key stage of "climbing over the ridge and rolling up the mountain".

Resolving excess capacity is deepening

The structural reform of supply-side

The important task, especially in the coal and iron and steel field, is that the pace of production capacity of state-owned enterprises is accelerating significantly this year.

A few days ago, Shen Ying, chief accountant of the state owned assets supervision and Administration Commission (SASAC), revealed that in the first half of the year, the central enterprises accumulated a total of 5 million 950 thousand tons of steel surplus capacity, and had completed the annual task ahead of schedule. The surplus capacity of the coal industry was 6 million 590 thousand tons, and the coal production capacity was 13 million tons.

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