central enterprise restructuring tide: the merger of PetroChina and Sinopec.

Original title: central enterprise restructuring tide: the government is studying the merger of PetroChina and Sinopec.

restructuring tide of central enterprises or shrink to 40

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"Economic Information Daily" reporter learned from authoritative sources that the SASAC has determined the focus of the next step of state-owned enterprise reform. Central enterprises will carry out large-scale mergers and reorganizations on the basis of classification, and the number of central enterprises is expected to be further reduced to 40.

"SASAC has issued a special document on promoting the restructuring of central enterprises." The above-mentioned person told reporters that the current SASAC divides state-owned capital into public welfare and commercial categories. Based on the above classification, this round of large-scale mergers and reorganizations will first focus on commercial state-owned enterprises, especially fully competitive industries. The elements will be further concentrated in large enterprises and large companies to prevent vicious competition in the same industry when participating in global projects like North and South vehicles. At present, many central enterprises have begun to take action.

"while strengthening the main business, this round of merger and reorganization will be more market-oriented and open, avoiding administrative allocation. For example, the non-core business of central enterprises, especially the tertiary industry, will be sold publicly through the capital market." The above person said. He confessed to reporters that there are too many companies of the same type now. This is the result of the implementation of diversification in 2005. There are more than one central enterprise in many industries, including nuclear power, water transportation, and railways. In some industries, there are even six or seven. In the future, similar items will be further merged. An insider of a central enterprise involved in the reorganization revealed to reporters that because the merger will involve many sensitive assets, preventing the loss of state-owned assets has also become the most important and core requirement of the SASAC for this round of central enterprise reorganization.

data show that SASAC has a total of 112 central enterprises, a total of 277 A- share listed companies. So far, the total market value exceeds 10 trillion yuan. The reporter learned that at the end of last year, China Huafu Trade Development Group Corporation announced that it would be merged into COFCO Group Co., Ltd. and become its wholly-owned subsidiary. This year, the two sessions began to announce the merger of CSR and CNR. Recently, the reporter learned that the merger of the other two central enterprises, China Power Investment and State Nuclear Power, has also been substantially launched and will form the State Power Investment Group.

In addition, Wang Mengshu, deputy chief engineer of China Railway Tunnel Group, revealed during the two sessions this year that the state has begun to study the merger plan of China Railway and China Railway Construction. According to other media reports, the Chinese government is studying the integration of PetroChina and Sinopec, CNOOC and ChemChina into larger petrochemical giants, and become real competitors such as international giants ExxonMobil, bp, and Shell. On April 15, China Shipping Haisheng issued a suspension announcement on "the controlling shareholder China Shipping Group is planning major issues related to China Shipping Haisheng", which triggered the market to China COSCO, China Shipping Group, Sinotrans Changhang Group, and China Merchants Group. Conjecture that the four major shipping central enterprises integrate with each other.

and as one of the pilot reform of the central enterprises, the integration of the State Investment Department from the State Investment in Lu opened the curtain. It is understood that on June 3, 2014, SDIC Zhonglu suspended trading due to major issues. On September 18, 2014, SDIC Zhonglu issued a reorganization plan announcement. The company intends to sell major assets, issue shares to purchase assets and transfer shares. A package of overall transactions to realize the backdoor listing of Jiangsu Huanya. On November 17 of the same year, China Textile Investment, which had been suspended for four months, also issued an asset restructuring plan. It plans to acquire 100 per cent of the shares of Anxin Securities held by the State Development and Investment Corporation through fixed increase, with a transaction price of 18.3 billion yuan and raising matching funds of 6.1 billion yuan.

In addition, CITIC Heavy Industries announced on the evening of January 21 that the company is planning major issues. The suspension is also known as the beginning of the integration of the CITIC system, April 15, the company built Asia's largest high-end electro-hydraulic intelligent control industry base announced full production.

reporter learned that after the establishment of the State-owned Assets Supervision and Administration Commission of the State Council in 2003, with the goal of reducing the number of central enterprises, highlighting the main business of central enterprises, and enhancing the international competitiveness of central enterprises, central enterprises have experienced a round of mergers and reorganizations. With the continuous deepening of the reform of central enterprises, once again To the critical period of integration. The Third Plenary Session of the 18th Central Committee of the Communist Party of China proposed that "we should further deepen the reform of state-owned enterprises with the focus on standardizing business decision-making, maintaining and increasing the value of assets, participating in competition fairly, improving enterprise efficiency, enhancing enterprise vitality and undertaking social responsibility."

a number of experts interviewed by reporters said that the new round of state-owned enterprise reform is undoubtedly aimed at the goal of becoming stronger, that is, through the merger of enterprises with a strong scale foundation and certain competitive advantages, the allocation of resources can be optimized, so as to build a more prominent competitive advantage.

"In the next step, many central enterprises in my country are not facing domestic competition, but facing stronger opponents in the international market. On the basis of the completion of the classification reform, central enterprises will usher in a wave of reorganization." Li Jin, vice president of the China Enterprise Reform and Development Research Association, told reporters. It is worth noting that among the world's top 500, China's central enterprises occupy the first place in engineering construction, metal products and banking, and the second place in the fields of crude oil extraction, shipping, oil refining and trade. However, in the other 45 industrial fields, China's central enterprises rank low, and even enterprises such as CSR, CNR and national nuclear power have not been able to enter the list of the world's top 500.

Li Jin believes that central enterprises are in a weak position in global competition, and there are also reasons for vicious competition among central enterprises, especially the strong merger of central enterprises in key strategic areas, which is conducive to enhancing international competitiveness, and at the same time counter the malicious Mergers and acquisitions of multinational companies will better safeguard my country's industrial security, better implement the "going out" strategy, and become bigger and stronger.

, we must also see the arduousness of the reform. Some experts remind that while promoting the merger of strong and strong enterprises, we should introduce an effective and standardized management mechanism of central enterprises, actively cultivate the development and growth of private enterprises, and avoid the substantial damage to consumers that may occur due to the abuse of market monopoly. On the other hand, the next step of the integration of central enterprises should respect the market law and the principle of enterprise voluntariness to ensure the steady and orderly progress of reform.