Whether The Dividends Of Central Enterprises Will Be Paid Up To Be Approved By &Nbsp May Increase By 5% To 30%.

Yesterday, a new report of Caixin aroused concern.

The report said, "the relevant opinions on improving the trial methods of state capital operation budget" (hereinafter referred to as "opinions") are expected to be approved by the State Council in the near future and will be implemented next year.

According to people familiar with the policy background, the main contents of the "opinion" include extending the scope of paying dividends to some state-owned enterprises under the central ministries and commissions, and appropriately increasing the proportion of dividends paid by central enterprises.

The latter includes three options, and the proportion of dividends paid by central enterprises has increased from 5% to 30%, which is yet to be determined by the State Council.

"First Financial Daily" reporter learned that there is indeed such a "opinion" in the formulation, mainly the financial sector in the lead operation, and with many ministries and commissions to negotiate, the program should be further submitted to the State Council for approval.

The pace of "sound budgeting and revenue sharing system for state owned capital" proposed in the 12th Five-Year plan is expected to accelerate.

Compared with the "11th Five-Year plan", the concept of revenue sharing system was first put forward.

There are about 120 thousand state-owned and state holding enterprises in China, including 123 central enterprises managed by the SASAC, the remaining central financial enterprises under the Ministry of Finance and all kinds of central enterprises under 80 other departments.

In the current state capital income system, only a large number of enterprises and China National Tobacco Corp of the SASAC are included. Other enterprises have not been included in the paid in framework.

In September 26th this year, the Ministry of Finance issued the circular on the centralized management of state owned assets supervision and administration of enterprises owned by central administrative units (Financial Affairs Office [2010]35), emphasizing that the state-owned assets supervision of subordinate central enterprises should be classified separately according to the nature of "investors".

Among them, the enterprises invested by the central administrative units are responsible by the administrative law and law department; the central enterprises and the central level cultural enterprises funded by the central institutions are the responsibility of the UNESCO; there are both enterprises invested by the central administrative units and funded by the central institutions. According to the principle of "the higher proportion of the funds allocated", the administrative law and law department or the UNESCO is responsible for it.

Subsequently, the Ministry of Finance launched a thorough investigation of more than 6000 subordinate central enterprises from October to effectively check the number, assets, liabilities and operating conditions of these enterprises.

This is seen as a precursor for the Ministry of finance to expand the scope of capital business income collection.

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The low percentage of paid dividends is criticized.

Raising the proportion of collection is also a measure that the Ministry of finance has been pushing forward.

The low proportion of central enterprises paying dividends has always been criticized by the outside world.

The central enterprises have turned over to the financial sector the pilot work of state capital gains since 2007.

According to the provisions of the time, the resources enterprises such as petroleum, petrochemical, electric power, telecommunications, coal and so on were paid up to 10% of the net profit; the general competitive enterprises such as iron and steel, pportation, electronics, trade and construction were turned over to 5% of the net profit; the military industrial enterprises and the pformed research institutes were suspended for three years.

However, in 2009, only the central enterprises under the State Council SASAC supervised their business revenue of 12 trillion and 627 billion 160 million yuan, the total profit amounted to 815 billion 120 million yuan, and the net profit attributable to the parent company was 398 billion 960 million yuan.

According to the data provided by the Ministry of finance, in 2009, the state owned capital gains of central enterprises were 98 billion 870 million yuan, including 60 billion yuan of special capital gains from restructuring telecom enterprises.

The above report pointed out that the "opinion" had solicited the opinions of fourteen central ministries and commissions in the first half of this year, and there was not much controversy because of the modest increase in the proportion of dividends paid.

Although the scope and proportion of the expansion of state-owned capital operating income and the proposal to incorporate state-owned capital budgets into public budgets have been relatively intensive, the relevant policies should be carefully promoted under the overall consideration.

Zhu Boshan, general manager of Shanghai tianqiang management company, told reporters that a major problem in the current system is that the use and mechanism of capital gains collected are not clear.

"How to levy and supervise the investment and distribution of income is a dilemma. There are no perfect measures yet."

Zhu Po told reporters that "if too little is done, it will not achieve the desired effect. If too much is taken, it is easy for the government departments to revert to the planned economic system only if the government does not achieve effective allocation of income.

If enterprises are going to finance the financial system, they will breed "running money into the sector" phenomenon.

Zhu Po told reporters that the core of the sharing system lies in the fact that the positioning of state-owned assets is still unclear. In accordance with the spirit of the 12th Five-Year plan, this part of the fund should be allowed to invest more in strategic emerging industries.