Capital Shanghai

Investors are saddened by stock indexes.

However, when the market suffered many setbacks, Shanghai's local stocks went against the market and were strongly sought after by investors.

The reason for this is that the new round of reform of state assets that Shanghai is about to start has given investors reasons for their expectation. The 70 billion assets integration injection put forward by the Shanghai SASAC has made investors see a warm hope in "winter".

Programmatic document promulgated

In September 3rd, an important document governing Shanghai's reform of state assets in the next three to five years was officially announced.

At the news conference held by the Shanghai municipal government, Yang Guoxiong, director of the municipal SASAC and Feng Wei, Secretary General of the municipal Party Committee Organization Department, respectively introduced the main contents of the "opinions on further promoting the reform and development of state owned enterprises in Shanghai".

It is understood that the "opinions" focus on the following aspects of the reform of state owned assets in Shanghai in a number of ways: first, in terms of principles and objectives, we should emphasize the openness and marketization of corporate restructuring and create competitive large conglomerates; secondly, in terms of ways and means, we should emphasize the full use of capital markets, take the road of listing development, and capitalization and Securitisation of assets.

In addition, in improving the corporate governance structure, it is more important to strengthen the classified management and perfect the mechanism of selecting and employing the market, so as to create a team of enterprise managers who are good at innovation, pioneering, market and professionalism.

In addition, the loss of state assets, which is widely feared in the previous market, has also opened the "prescription", which is to further build and improve the modern corporate system of state-owned enterprises.

According to the "opinion", the restructuring of state-owned enterprises in Shanghai will set up the corporate governance structure in a classified way. The industrial enterprises, capital management enterprises and financial enterprises in the state-owned enterprises will be set up by the company law according to the requirements of the company law.

Through this split structure, the decision level and management level are separated, and the chairman and the general manager are separated.

At the same time, selecting excellent leadership teams for state-owned enterprises is also an important aspect for the government to optimize the reform of state-owned enterprises.

For example, the administrative level of the leaders of enterprises and enterprises should be abolished, and the leaders of enterprises will no longer retain their civil servants' identity. Increasing the operators' open selection and market selection, and establishing the flow mechanism of business operators can go up and down, and move in and out can help enterprises find talents with real material and material resources when selecting the top leaders of state-owned enterprises.

Yang Jianwen, a professor at the Shanghai Academy of Social Sciences, said that the focus of the opinion is to find the motive force for Shanghai's future development. It provides not only short-term guidelines, but also more importantly, it hopes to create a broader platform for Shanghai's sustainable development in the future through the increasingly mature state owned enterprise reform.

It is reported that this newly released "opinion" is only a series of guiding policies for the reform of state owned enterprises in Shanghai.

A person familiar with the matter said that since the beginning of this year, the senior government of the Shanghai municipal government has engaged in a long period of investigation with regard to the status quo of state owned enterprise reform in Shanghai with the expert group hired. In May, a total of thirty draft words with more than 8000 words were formed.

According to the news of the Shanghai municipal government website, on the afternoon of August 12th, Yu Zhengsheng, Secretary of the Shanghai municipal Party committee, chaired the meeting of the Standing Committee of the municipal Party committee. She heard and considered some opinions on further promoting the reform and development of state owned enterprises in Shanghai (Draft), as well as the supporting documents concerning "further standardizing and improving the corporate governance structure of state-owned enterprises (Draft)" and "some opinions on deepening the improvement of Shanghai's industrial development policies".

Yu Zhengsheng said that these are important measures to solve the major problems in the crucial period of Shanghai's development, and their importance is beyond words.

Yang Jianwen believes that from the relevant content that has been revealed, the reform of state owned enterprises in Shanghai is about to start in full swing, and the marketization of the reform of state-owned assets will far exceed that of the past.

Difficult pformation of state assets in Shanghai

The reform of state-owned enterprises is not an unfamiliar concept for Chinese people.

To be precise, 30 years of reform and opening up have been accompanied by the reform of state-owned enterprises.

The reform of state-owned enterprises in China began in 1990s. One of the fundamental reasons is that the management concept and organizational structure of most state-owned enterprises are completely behind the prevailing market economy atmosphere.

Yifu Lin, a famous economist in China, pointed out that the poor management of state-owned enterprises was the fundamental reason for the main contradiction of China's economy in the 1990s.

In the fierce market competition, in order to save state-owned enterprises, banks have low interest loans and large amounts of government funding, but because of the lack of government and business, the absence of owners, redundant enterprises and other reasons, the operation of state-owned enterprises has continued to deteriorate.

Thus, with the intensification of competition, the above rescue measures aggravate the government's financial burden and bank risks.

In order to break this vicious cycle, in November 1993, in the third Plenary Session of the 14th CPC Central Committee, the CPC decided to reform the small state-owned enterprises in various ways, and put forward a modern enterprise system with clear property rights, clear responsibilities and responsibilities, separate government administration from enterprises, and scientific management.

Subsequently, a company law, which clearly defined the mode of operation of the main body of the market economy, was formally implemented in 1994.

Compared with other provinces and cities in the whole country, the reform of state assets in Shanghai has always been regarded as a template for reform, and is also the largest "deep water area" with the largest local state assets.

According to the data of the SASAC website, as of the end of 2007, the total amount of state-owned assets in Shanghai reached 850 billion yuan, which accounted for nearly 12 trillion of the total state assets in the country. The local state owned economy in Shanghai realized about 300 billion yuan in 1/10, and the total state-owned assets in Shanghai accounted for 50% of the total city's total assets in.

From this point of view, "big and heavy" reform of state-owned enterprises in Shanghai is really not an easy thing.

According to insiders, from 2002 to 2005, the reform of state assets in Shanghai has been at the forefront of the country.

In 2003, Shanghai formally launched the provisional regulation on the supervision and administration of state-owned assets of enterprises, script src=>