SASAC issues operational guidelines for the Reform of mixed ownership of Central Enterprises
Xinhua News Agency, Beijing, 8 Nov (Reporter Wang Xi)-- in order to steadily and orderly promote the reform of mixed ownership, the State-owned assets Supervision and Administration Commission of the State Council, in combination with the practice of mixed reform of central enterprises, issued the operational guidelines for the Reform of mixed ownership of Central Enterprises on 8 November.
The guidelines make it clear that the sub-enterprises at all levels of the central enterprises will introduce non-public capital and collective capital to carry out the reform of mixed ownership through the transfer of property rights, capital increase and share expansion, initial listing of (IPO), assets reorganization of listed companies, and so on. For related work, refer to the operational guidelines issued this time.
According to the guidelines, the sub-enterprises at all levels belonging to the central enterprises have implemented mixed reforms. Generally speaking, the following basic operating processes should be performed: feasibility study, formulation of mixed ownership reform plan, implementation of decision-making and examination and approval procedures, audit evaluation, introduction of non-public capital investors, and promotion of enterprise operation mechanism reform. Where the reform of mixed ownership is carried out by means of newly established enterprises, foreign investment mergers and acquisitions, investment in shares, etc., the relevant procedures for the investment management of central enterprises shall be fulfilled.
In the relevant links of "mixed capital", the guidelines clarify the operational points of asset audit evaluation, the implementation of mixed reform through the property rights market and the implementation of mixed reform through the stock market. It also focuses on the operation of the relevant links of "reform mechanism", such as corporate governance and control mode of mixed ownership enterprises, three system reforms, incentive and restraint mechanism and so on.
According to a report released a few days ago by the Research Center of the State-owned assets Supervision and Administration Commission, in recent years, the mixed reform of central enterprises in China has been promoted in an orderly manner. More than 5000 central enterprises have participated in foreign shares. At present, the proportion of mixed ownership enterprises in central enterprise groups and sub-enterprises at all levels has exceeded 70%.