Optimizing the Structure of the State Owned Economy and Taking Next Steps to Target Emerging Industries
2023-03-30
On March 29, the SASAC held a centralized signing ceremony for specialized integration projects of central enterprises, and 11 groups of specialized integration projects were collectively signed. The reporter from Shanghai Securities News learned that the contracted project involves multiple industries such as clean power generation, mineral resources, ecological and environmental protection, and medical and health care. It includes both resource integration between central enterprises and coordinated development between central and local governments. In 2022, central enterprises implemented 1272 specialized integration projects. Among them, there are 803 internal resource integration projects for central enterprises, 154 inter central enterprise integration projects, 138 central local integration projects, and 177 external resource integration projects. Specialized integration refers to the concentration of resources by enterprises to advantageous enterprises and main business enterprises through various methods such as asset restructuring, equity cooperation, asset replacement, and free transfer. Promoting professional integration is of great significance for promoting the high-quality development of central enterprises and optimizing and adjusting the layout and structure of the state-owned economy. The integration of resources between central enterprises under centralized contracting for 11 groups of specialized integration projects is a major focus of this specialized integration contracting project. Taking the integration of China Merchants Group and SDIC as an example, the main business of China Merchants Products under China Merchants Group is domestic and international trade of nonferrous metals, and its main business is the same as that of China SDIC International Trade Co., Ltd. (hereinafter referred to as "SDIC Trade"), which belongs to the field of bulk commodity trade, with certain similarities. According to data, China Communications Import and Export Co., Ltd. (hereinafter referred to as "China Communications Import and Export Co., Ltd."), a subsidiary of China Merchants Group, and China Aluminum International Trade Group Co., Ltd., a subsidiary of China Aluminum Group, respectively hold 51% and 49% equity interests in China Merchants Products. Based on this, China Merchants Group transferred 51% of its equity in China Merchants Property held by CCCC to SDIC Trading through free transfer of equity between central enterprises. This integration will further enhance the influence of SDIC in the field of commodities serving the national economy and people's livelihood. This centralized contract signing also includes the implementation of central and local cooperation projects. Changjiang Environmental Protection Group, a secondary subsidiary of China Three Gorges Group, and Wujiang Water Group jointly initiated the establishment of Wujiang Water Stewardship Company, with 50% of the shares held by both parties. Changjiang Environmental Protection Group holds the majority of the shares and has a registered capital of 3 billion yuan. It is understood that the projects under centralized contract this time also include the equity disposal project of CGN, the health care project of China Southern Power Grid and China Resources Group, the cooperation project between China Tourism Group and China National Pharmaceutical Group, the cooperation project between China National Machinery Group and China Chengtong, and the integration project between China National Power Investment and China Baowu. In the next stage, the focus of specialized integration of central enterprises has been revealed. Regarding the focus of the next step of specialized integration, Weng Jieming, member of the Party Committee and deputy director of the SASAC, proposed to highlight the development of strategic emerging industries. "We should carry out market-oriented mergers and acquisitions to enhance the overall competitiveness of the industrial chain, strive to improve the layout in fields such as integrated circuits, industrial motherboards, artificial intelligence, and accelerate the realization of independent control in important fields and key nodes, and strive to create a group of innovative state-owned enterprises." Weng Jieming said. He proposed that central enterprises should combine the actual situation of the enterprise, research and integrate transformed scientific research institutions and applied scientific research institutions to establish industry research institutes, participate in the construction of national major scientific and technological innovation platforms, and establish national innovation consortiums. We should focus on advantageous resources and accelerate the cultivation of a group of professional leading enterprises with outstanding specialties, innovation driven, lean management, and distinct characteristics
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Shanghai Securities Dairy
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