2022 is the final year of the three-year action of decisive battle and victory in the reform of state-owned enterprises. Many central enterprises and local state-owned enterprises regard improving the asset securitization rate as an important work of the reform of state-owned enterprises, and clearly put forward objectives and measures. With the reform of state-owned enterprises, people in the industry believe that it will be more important to promote the "fine and specialized layout of state-owned enterprises" as a strategic means to promote the listing of state-owned enterprises this year. On February 6, the Hong Kong Stock Exchange disclosed that Jinmao Property Service Development Co., Ltd. passed the listing hearing. The company is a subsidiary property company of China Jinmao holding group under Sinochem. China Mobile officially landed in a shares and became the "first share of red chip companies returning to the A-share main board"; China shipbuilding group promotes the overall listing of its new energy business assets; National energy group builds a + H wind power listing platform Longyuan Power... Since 2022, asset securitization of central enterprises has been frequent. "This year is a decisive year for the three-year action of state-owned enterprise reform. The asset securitization rate is an important reform index for central enterprises and local SASAC. It is expected that the relevant actions will be accelerated." Zhu Changming, head of the state-owned enterprise mixed reform center of sunshine times law firm, said in an interview with the reporter of Economic Information Daily that with the improvement of the multi-level capital market system and the full implementation of the registration system, the entry into force of the provisions of the company law (Revised Draft) on authorized capital system and class shares, and the maturity and finalization of the modern enterprise system with Chinese characteristics, The resultant effect of various reforms will create more favorable conditions for asset securitization. Many central enterprises are actively planning. Lu Dongfu, chairman and party secretary of guotie group, said that the capitalization of Railway Assets and equity securitization will be further promoted in 2022. Promote qualified enterprises to restructure, reform and list, pilot issue infrastructure REITs (real estate investment trust funds), study the capital operation scheme of existing listing platforms, and formulate guidance on improving the quality of listed companies controlled by state railway. "The work related to CNOOC's return to a shares is advancing in an orderly manner, and the progress is relatively smooth at present." Xu Keqiang, CEO of CNOOC, said. In addition, according to the reporter of economic information daily, Poly Group will accelerate the pace of reform this year and promote some subsidiaries to be listed on the science and innovation board. Local governments have also made clear the objectives of state-owned assets securitization. Anhui SASAC has formulated the work plan for the capitalization and securitization of state-owned assets of provincial enterprises, which has been studied and approved by the executive meeting of the provincial government. It strives to introduce 100 billion yuan of capital through mixed reform and joint venture cooperation, use the capital market to directly raise 100 billion yuan, and drive social capital to establish a fund group with a scale of 100 billion yuan in three years, Guide capital to focus on the province's top ten emerging industries, the transformation and upgrading of traditional industries and the construction of new infrastructure. Shenzhen SASAC has vigorously implemented the strategy of "listed companies +" and "fund group". In 2021, the number of Listed Companies in the whole system will increase to 35, and the asset securitization rate will reach 59.4%. The goal is to increase to more than 60% by 2022. It is worth noting that asset securitization has become an important means for state-owned enterprises to optimize the layout and adjust the structure. The listing of enterprises in strategic emerging industries such as new energy, energy conservation and environmental protection, science and technology has received greater policy support. The relevant person in charge of the state owned assets supervision and Administration Commission of the State Council previously said that a number of "top soldiers" who promote the scientific and technological innovation of central enterprises are listed on the science and innovation board to improve the ability of independent innovation. The guidance on promoting the high-quality development of central enterprises and doing a good job in carbon peak and carbon neutralization issued by the state owned assets supervision and Administration Commission of the State Council at the end of last year also proposed to support qualified green and low-carbon industrial enterprises to go public for financing and refinancing. CSCEC issued the guidance on spin off listing, merger and acquisition and mixed reform, increased the investment in resources of leading enterprises, and promoted each secondary enterprise to create at least one national or provincial "specialized and special new" enterprise. At present, the whole group has been rated as two national specialized and special new "little giants" and one "single champion product in manufacturing industry". In 2022, the state owned assets supervision and Administration Commission of Shandong Province will sort out the high-quality ownership enterprises of Shandong provincial enterprises, screen the new third board enterprises and "specialized and special new" enterprises with listing conditions such as the Beijing stock exchange, and strengthen the cultivation; Guide listed companies to strengthen market value management, encourage enterprises affiliated to Shandong Province to inject interbank assets into listed companies, further concentrate the main business assets to listed companies, and strive to improve the quality of asset securitization. Beijing SASAC also said it would sort out the pool of enterprises to be listed, focus on cultivating and promoting the listing of "specialized, special and new" enterprises, actively mobilize and promote qualified enterprises to be listed on the Beijing stock exchange, and guide state-owned capital into strategic emerging industries. Zhou Lisa, research director of China Modern State-Owned Enterprise Research Institute of Tsinghua University, believes that the capital market shoulders a historical mission in promoting scientific and technological innovation, service transformation and upgrading, optimizing resource allocation and sharing development achievements. The unique mechanism of equity financing risk sharing and benefit sharing in the capital market has accelerated the formation of innovative capital. Zhu Changming said that at present, the capital market is increasingly becoming an important platform for the allocation of factor resources. The marketization of issuance and listing, trading, delisting and refinancing has created a good environment for the listing of "specialized and special new" enterprises. State owned assets and state-owned enterprises should do a good job in top-level design, comprehensively apply various policies of state-owned enterprise reform, and pay attention to enterprise compliance management. (Xinhua News Agency)