The strategic reorganization of state-owned enterprises steadily advances the structure of the state-owned economy

Original title: The strategic reorganization of central enterprises steadily advances the structure of the state-owned economy

In recent years, the central enterprise group level strategic reorganization, professional integration, mergers and acquisitions and other work have been steadily advanced, and the structure of the state-owned economy has been continuously optimized. Next, by accelerating the horizontal integration of similar businesses and the vertical integration of the upstream and downstream of the industrial chain, and simultaneously doing a good job in the integration and coordination of management, technology, and market resources, the restructuring dividends of central enterprises will continue to be released.

Sinochem was officially listed, China Star Network Group was established, China Electric Technology reorganized China Putian, and the integration of national pipeline network resources has been further promoted… Since this year, the reorganization and integration of central enterprises have attracted widespread attention in the market.

Promoting the restructuring and reorganization of state-owned enterprises is an inevitable requirement for strengthening and improving state-owned enterprises and enhancing their core competitiveness. “In recent years, the SASAC has seized the strategic reorganization, professional integration, mergers and acquisitions of central enterprises, the divestiture of the’two non’ (non-main business, non-advantage’) and the’two capital’ (inefficient assets, invalid assets) liquidation,’ “Reduce the key points, and promote the continuous optimization of the structure of the state-owned economy.” On August 25, Weng Jieming, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, together with some heads of central enterprises, briefed reporters on the progress and effectiveness of related work.

Speeding up strategic restructuring at the group level

Help improve the efficiency of resource allocation and maintain the stability of the industrial chain supply chain

In November 2019, the former China Shipbuilding Industry Corporation and the former China Shipbuilding Industry Corporation implemented a strategic reorganization, and the new China Shipbuilding Corporation was established. After the reorganization, the group’s total assets, operating income, and net profit rank first among the world‘s shipbuilding groups.

“At the beginning of this year, the reorganization of the’two ships’ entered a substantive stage of operation.” Qian Jianping, a member of the party group and deputy general manager of China State Shipbuilding Corporation, said that in the first half of the year, China Shipbuilding received orders for civilian ships of approximately 18 million deadweight tons, accounting for a global market share. About 28%, ranking first in the world.

The reorganization of the “two ships” is of great significance. Weng Jieming believes that this is a positive measure to cope with the overall overcapacity of the international shipbuilding industry and enhance the international competitiveness of my country’s shipbuilding industry. “From the actual effect, the reorganization and integration of the industry’s advantageous resources have accelerated the progress of ship research and development and manufacturing, and the company’s operating efficiency has been greatly improved. “

Promoting strategic reorganization at the central enterprise group level is an important measure to accelerate the optimization and structural adjustment of the state-owned economy, and to improve the efficiency of resource allocation. It is of great significance to maintaining the stability of the industrial supply chain and accelerating the cultivation of world-class enterprises with global competitiveness. Since the 19th National Congress of the Communist Party of China, the State-owned Assets Supervision and Administration Commission has promoted the completion of a series of large-scale and far-reaching restructuring projects, involving 6 groups and 12 central enterprises.

In addition to the “two ships” reorganization, the “two ships” reorganization between the former Sinochem Group and the former ChemChina has also received widespread attention. In the context of the prominent importance of food security, the “two industrializations” have achieved a strong alliance through reorganization, which has effectively strengthened the competitiveness of central enterprises in fields such as seed sources and chemical industries. After the reorganization, Sinochem has accelerated the integration of resources and strengthened technological innovation, and the integration of the agricultural seed industry sector has been completed.

Weng Jieming said that in the next step, we will focus on serving the country’s strategic deployment and steadily promote the integration of resources in the fields of logistics and transmission and distribution equipment manufacturing to solve problems such as prominent structural contradictions and insufficient core competitiveness. Establish a new central enterprise group to promote the concentration of state-owned capital in industries that are related to the national economy and people’s livelihood, the provision of public services, emergency capacity building, and public welfare, and the concentration of forward-looking strategic emerging industries.

Effectively promote professional integration

Reduce repeated investment and homogeneous competition, and increase industry concentration

In December 2019, the National Oil and Gas Pipeline Company was established;

At 24:00 on September 30 last year, the company officially took over the operation of the main oil and gas pipeline network infrastructure assets that originally belonged to the three major oil companies, and fully transferred to substantive operation;

At 24:00 on March 31 this year, the company took over the equity of the two subsidiaries of the former PetroChina Kunlun Energy Co., Ltd., marking the complete integration of my country’s backbone oil and gas pipeline network assets;

At present, the company has 91,000 kilometers of oil and gas pipelines in service, 11 gas storage facilities, and 10 LNG (liquefied natural gas) receiving stations, with total assets exceeding 800 billion yuan. In the first seven months of this year, pipelines transported 156.4 billion cubic meters of natural gas, 148 million tons of crude oil, and 53.47 million tons of refined oil, representing a year-on-year increase of 18.8%, 4.6%, 2.8%…

At the meeting, Li Hui, director and deputy party secretary of the National Petroleum and Natural Gas Pipeline Corporation, introduced the progress since the establishment of the national pipeline network.

“After the establishment of the national pipeline network, the market-oriented acquisition of pipeline assets that originally belonged to the’three barrels of oil’ has improved the level of interconnection and promoted the initial formation of a new pattern of’one national network’, providing a safe and stable supply for my country’s oil and gas energy. Guarantee.” Weng Jieming analyzed.

Specialized integration is an effective means to fundamentally reduce repeated investment and homogeneous competition, and is of great significance to the improvement of industrial concentration and the core competitiveness of enterprises. Since the 19th National Congress of the Communist Party of China, the State-owned Assets Supervision and Administration Commission has taken the opportunity of industry system reform in related fields to steadily promote the professional integration of central enterprises through asset reorganization and equity cooperation, and achieved good results.

In April of this year, the State-owned Assets Supervision and Administration Commission established China Satellite Networks Group Co., Ltd. by concentrating the advantages of relevant central enterprises in the field of satellite Internet. In Weng Jieming’s view, this is a major measure based on the overall national strategy and conforming to the general trend of technological industry reform, and is of great significance to accelerating the development of my country’s satellite Internet.

Actively and steadily carry out mergers and acquisitions

Promote industrial transformation and upgrading and high-quality development of enterprises

Mergers and acquisitions are an effective way for companies to achieve rapid development. Weng Jieming said that since the 19th National Congress of the Communist Party of China, the SASAC has guided central enterprises to actively and steadily carry out mergers and acquisitions based on national needs, main responsibilities and key areas, which has promoted industrial transformation and upgrading and high-quality development of enterprises.

For example, stable mergers and acquisitions are carried out around the industrial chain and supply chain. State-owned enterprises give full play to their advantages such as wide coverage and strong driving ability to promote the effective connection and coordinated operation of the upstream and downstream of the industrial chain through mergers and acquisitions. Through the acquisition of overseas terminal projects, China COSCO Shipping actively deploys a global fulcrum network to promote economic and trade exchanges between China and Latin America, and builds full logistics and supply chain capabilities by integrating logistics companies in Liaoning and other places.

To optimize the layout of state-owned capital, there must be advances and retreats, and a good addition must also be a good subtraction. The meeting also introduced the progress of the separation of the “two Africans”, the withdrawal of the “two capitals”, and the “reduction”.

Carrying out the “two-nons” divestiture and the “two-capital” retreat can promote the concentration of superior resources of state-owned capital and help enterprises move forward with light equipment. In September last year, the “two Africans” divestiture work started. As of the first half of this year, 51 central enterprises have divested 252 non-main businesses through mergers and acquisitions, bankruptcy reorganizations, and external transfers, involving 49.57 billion yuan in assets.

In response to problems such as unclear numbers of central enterprises, bloated institutions, and long management chains, the SASAC has carried out “reduction” work to promote central enterprises to reduce management levels and reduce the number of legal person households. As of the end of July this year, the management level of central enterprises was controlled within 5, and the number of legal person households had decreased by more than 18,000, a decrease of more than 34%.

“In the next step, the SASAC will guide the central enterprises to accelerate the horizontal integration of similar businesses and the vertical integration of the upstream and downstream of the industrial chain during the structural adjustment and reorganization, and simultaneously do a good job in the integration and coordination of management, technology, and market resources, so as to effectively bring out the synergy and release Restructuring dividends to achieve the restructuring goal of ‘1+1>2’.” Weng Jieming said. (People’s Daily)