State-owned capital will withdraw from Sichuan Textile Group

Sichuan Airlines Group, Sichuan Tourism Development Group, Sichuan Business Group and Sichuan Furun Enterprise Restructuring Investment Co., Ltd. will introduce collective economy and non-public economy components. Sichuan's reform of state-owned assets and state-owned enterprises is proceeding in an orderly manner according to the ideas of the Provincial Party Committee and the Provincial Government's Opinions on Deepening State-owned Assets and State-owned Enterprise Reform to Promote Development (hereinafter referred to as “Opinions”).

On May 22, Sichuan Sichuan Chuangzhi Investment Consulting Co., Ltd., a professional consulting service company of Sichuan State-owned enterprise reform, was informed that Sichuan is currently classifying Sichuan’s existing provincial state-owned enterprise groups in accordance with the spirit of “Opinions” and will In the past, reforms were taken in different forms to increase the vitality and competitiveness of state-owned enterprises and make contributions to the realization of Sichuan's "two leapfroggings."

Mixed ownership is the highlight

"From the "Opinions", we found that the method of reforming state-owned enterprises in Sichuan this round has been significantly increased compared with the past. The paths for state-owned capital to go back and forth have also been much richer." As Sichuan State-owned Enterprise Reform Expert - Sichuan Chuangzhi Investment Consulting Co., Ltd. The chairman and president of the company, Jun Jun, said that these methods and paths include mixed ownership, internal restructuring, external restructuring, the formation of state-owned capital holding groups, and the complete withdrawal of state-owned capital from minority groups.

It is understood that next, state-owned enterprises such as Sichuan Airlines Group, Sichuan Tourism Development Group, Sichuan Business Group and Sichuan Furun Enterprise Restructuring Investment Co., Ltd. will implement mixed ownership reforms, and will introduce collective economy and non-public economy components.

He Jun introduced that there are two specific ways of mixed ownership reform: one is that state-owned enterprises transfer part of stock assets or shares to the collective economy and non-public economy; the other is state-owned enterprises and the collective economy and non-public economy. Jointly funded immediately a new company, operating entirely in accordance with the requirements of the stock system. "Mixed ownership will be the highlight of this round of state-owned enterprise reforms and will form the pattern of 'you have me and I have you'." Jun Jun said that because of the interests of funders, it is bound to set up shareholders' meetings, board of directors, and managers. In the corporate governance structure, the supervisory board supervises the management team and forms a mutual restraint mechanism.

Zhou Yousu, a former vice president and researcher at the Sichuan Academy of Social Sciences, said that mixed ownership is helpful in regulating the establishment of the state-owned enterprise board of directors and the establishment of operational mechanisms. Because the existing state-owned sole proprietorship model is prone to the drawbacks of “one dominance” and “insider control”.

State-owned capital will enter and retreat

In addition to the mixed ownership system, this round of state-owned enterprise reforms will also adopt the following reform measures for different SOEs: The company will improve its corporate governance structure for state-owned state-owned enterprises such as Sichuan Huaxi Group, Sichuan Changjiang Group, Sichuan Nonferrous Technology Group and Sichuan State-owned Assets Management Company. A company decision-making mechanism with a board of directors as the main body was established. The Opinions require that the Board of Directors implement the powers of the board of directors in major decisions, remuneration assessments, selection of personnel, etc. in accordance with the provisions of the Company Law and the Articles of Association. With the exception of the general manager, other managers do not normally enter the board of directors. The competitive enterprise implements the structure of the board of directors that is greater than the internal one. "Competitive companies have implemented a board structure with more external than internal, that is, the number of external directors is more than the number of internal directors." Yu Jun interpreted.

In terms of Qi Jun, on the one hand, it is necessary to repay the right to the board of directors to implement the authority of the board of directors in major decisions, salary assessments, selection of personnel, etc.; on the other hand, it is also necessary to implement the board structure of “outside than inside”. This is conducive to the formation of restraint mechanisms to avoid "insiders control" and abuse of power.

It is reported that the group's internal restructuring companies include Sichuan Tourism Development Group and Sichuan Jinhong Group. The restructuring of such companies is mainly conducted in the form of optimizing internal resources.

Sichuan Tourism Development Group was established by five state-owned enterprises such as Sichuan Development (Holdings) Co., Ltd. in July 2010. The registered capital of the company is 168 million yuan, and the current total assets of the group are about 2 billion yuan.

The Sichuan Jinhong Group was established on December 28, 2006 to deepen the reform of the state-owned assets management system at the provincial level and to organize the transfer of 125 hotels, travel agencies, and printing plants of the provincial agencies in the province. The independent legal entity is a state-owned sole proprietorship with a registered capital of 500 million yuan.

In addition, the Group's external restructuring companies include Sichuan Business Group and Sichuan Grain and Oil Group.

While the state-owned capital has "in progress," state-owned capital will be withdrawn from Sichuan Textile Group.

State-owned assets will be hand dispensers

The "Opinions" proposed to strengthen the supervision of state-owned assets based on the control of capital, and to reorganize Sichuan Development Holding Group into a state-owned capital holding group. According to relevant data, Sichuan Development is a wholly state-owned limited liability company funded and established by the Sichuan Provincial Government. The registered capital of the company is 800800 billion yuan. It is mainly engaged in investment and asset management, independent accounting, independent management, and self-financing. The basic function of the company is to invest in professional investment companies in different ways such as participation in shares, holdings, claims, etc.; as a contributor, to operate and manage state-owned assets that have been transferred; and to raise construction funds as an enterprise legal person. The company's business scope mainly includes investment and asset management. Its investment focuses on transportation, energy, water, tourism, agriculture, development of advantageous resources, energy conservation and environmental protection, and other areas authorized by the provincial government.

However, Yu Jun believes that after the reorganization of these groups as a contributor, the object of the investment is not subject to the above-mentioned limits, all state-owned enterprises in Sichuan can choose to invest in the implementation of equity investment, do not participate in the specific business management.

Sichuan Changhong Group and Sichuan Energy Investment Group were reorganized as Industrial Investment Management Co., Ltd. to implement equity investment in enterprises in the industry and not to participate in specific business management. This will also become another important move in this round of Sichuan state-owned enterprise reforms.

According to relevant data, Sichuan Energy Investment Group was established on February 21, 2011 with a registered capital of 8 billion yuan. It is a provincial-level industrial investment company approved and established by the Sichuan Provincial Government. It is Sichuan's promotion of energy infrastructure construction and acceleration of major energy projects. The main body of construction.