China’s Private Enterprises In The State
Not long ago, China’s State Council Development Research Center held a “private enterprises to participate in property acquisition,” the seminar, both from the authority of the State Council Development Research Center and other research units of the experts, or from the State Asset Management Commission and other government officials are that the disposal of state-owned assets, the loss is not out of state acquisition of the private enterprises, the private enterprises involved in property acquisition should not only support, but should also be promoted. This view will participate in the private economy have a positive impact of state-owned enterprise reform.
Latest authority on non-public economy survey, private sector participation in state-owned enterprises are highly active in the 3258 investigation of private enterprises, mergers, or eight per cent has been acquired bankrupt state-owned enterprises, with 13.9 percent ready to merger or acquisition of state-owned enterprises, 2.8 percent of surveyed enterprises have been contracted or leased inefficient state-owned enterprises, with 6.6% prepared to contract or lease inefficient state-owned enterprises . The survey also showed 90.6 percent of private enterprises to absorb laid-off workers of state enterprises also accounted for the total number of employees surveyed median 20%.
China’s ongoing State Assets M & A activity, private enterprises eye-catching figure, thus caused the loss of state assets will emerge from time to time questions. In this regard, the state-owned assets, Development and Planning Committee Secretary Wang Qi believes that the state economy and private economy there is no difference between the owner of life and death issues, on the contrary, is the mutual promotion and common development of relations. Flow of state-owned assets property policy and there are no obstacles, no barriers to mergers and private enterprises.
In China, the strategic adjustment of state-owned enterprises, the property acquisition is to achieve “Authentic Proof” the most important way to view the market has gradually become the mainstream. Jia Kang, director of the Institute of Fiscal Science, believes that private enterprises involved in property acquisition should not only support, but should also be promoted. State-owned enterprises to rely on the internal reorganization of property rights are not perform well in the. Since the purchase of state assets from the sale will inevitably lead to the loss, while private enterprises merger will benefit the public interest, but also conducive to the improvement of corporate governance structure.
Located in Hangzhou, Zhejiang Guangsha Holdings Limited is involved in state-owned property acquired earlier private enterprise, has acquired four years old and construction of state-owned Beijing Chongqing, a subsidiary of the Beijing Construction Engineering building, the old state-owned enterprises and to generate two different levels welcome change. The person in charge Guo Xiangdong that the system of private economy requires businesses to pursue profit maximization. He believes that participation in a state-owned enterprises must first Holdings, which alone have sufficient strength to the idea of private enterprises and mechanisms into them; second operator instead to have high political quality and leadership.
At present, foreign investment in property acquisition is in China to be encouraged, all areas open to foreign investment in the property should first be opened to domestic private capital has become an important consensus. State Council Development Research Center of Market Economy Institute deputy director Chen Huai noted that in recent years, foreign capital investment in China has seen a shift from the formation of new production trend of acquisition of existing assets. The development of China’s automobile industry has been largely based on the foreign acquisition of property rights. Current should be in accordance with the Chinese Communist Party Congress Report’s “relaxation of domestic private capital market access, investment, financing, taxation, land use and foreign trade measures to achieve fair competition,” the property rights of all areas open to foreign investment should be First of all, open to domestic private capital.
Problems also exist. Acquisition of private enterprises to participate in the practice of state-owned assets, transactions both collusion does exist the risk of damage to national interests, there is imperfect trading rules, asset prices, market-based mechanism for development of inadequate inquiry question. But with the acquisition of the main independent of whether it is private enterprise. System is imperfect, between the main state-owned investment property transactions in the same defects may also occur. Property transaction process to prevent loss of state assets can not rely on inhibition of acquisitions themselves, and actively improve the appropriate property rights system, the formation of an effective state-owned assets management system and method is the fundamental way to solve the problem.
Relevant experts believe that property rights to encourage private enterprises involved in mergers and acquisitions is a good reform. Practice shows that private enterprises merger and reorganization of state-owned assets, the placement of workers on employment issues far better than foreign acquisitions.
Currently, state-owned property acquisition for the biggest problem is the pricing. As the SAC Development and Planning Bureau Wang Qi pointed out, the property market is underdeveloped, it can not find a reasonable price, he thinks the key is to grasp the current state-owned assets in the relevant legislation.
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