Under The Impetus Of The State Council'S SASAC And Local State Assets Regulatory Authorities, Local State Assets Are Expected To Be Restructured.

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On the 19 day, the SASAC of the State Council held the first special meeting on guiding and supervising the work of local state assets in Hangzhou.

The deputy director of the SASAC, Huang Shu, pointed out clearly that the SASAC should pay attention to defining the functional orientation of the state-owned economy in the region, optimize the layout structure of the local state-owned economy, promote the shareholding system reform of state-owned enterprises, optimize the ownership structure, and further guide the local authorities to give full play to the leading role of the state-owned economy.

It is understood that, in order to promote the restructuring of local state-owned enterprises, the SASAC held a training course for restructuring and listing state-owned enterprises, guiding local state-owned assets supervision departments to better carry out their work.

News from training courses shows that restructuring, mergers and acquisitions and listing are SASAC.

Integration of state-owned listed companies to speed up

It is reported that after more than 20 years of efforts, state-owned holding listed companies have become the mainstream of capital market.

Data show that by the end of 2009, there were 1718 A share listed companies, 938 of which were holding listed companies in China, accounting for 54.6%, accounting for 52.83% of all A share listed companies and 78.9% of operating income.

Although the number is increasing rapidly, the problem of small and scattered state controlled listed companies is gradually exposed.

A senior SASAC executive said in a training class that at present, the integration of state-controlled listed companies is not fast enough. Most companies are small and are distributed in various industries. Resources are not properly allocated and lack of independent listed companies.

Huge asset securitization

According to statistics, at present, Shanghai, Henan, Heilongjiang, Zhejiang, Anhui, Jiangxi, Chongqing, Yunnan, Shanxi, Shandong, Shandong, Shandong and other provinces and municipalities have issued documents, and put forward the integration of local state capital through the capital market.

Analysts believe that after the issuance of the State Council's opinions on promoting enterprise merger and reorganization, there will be support and guidance from the state owned assets supervision and Administration Commission.

At the same time, raising the rate of asset securitization has also become an important task before all state assets supervision departments.

According to the above high-level personages, at present, the degree of asset securitization of state-owned enterprises is different. The central enterprises are faster than the local state-owned enterprises, and the eastern part is superior to the western ones, and the municipalities are faster than the provinces.

"Listed companies are relatively low, and key enterprises and high-quality industries have not yet entered the capital market."

Beijing and Shanghai are faster places for asset securitization, and the asset securitization rate of the two cities is only 24% and 25.4%.

In order to speed up the process of asset securitization, a number of state-owned enterprises have been reorganized in Shanghai this year.

A report by Huatai Securities believes that the total number of local state-owned assets that can be injected into listed companies is even more alarming because the total amount of local state-owned assets is larger than that of central enterprises.

"Securitisation of local state assets will mainly focus on the areas of finance, real estate, core industries and pportation."