State-owned Assets Supervision and Administration Commission puts pressure on state-owned enterprises to lose weight

[China Epoxy Network (China Epoxy Industry Online)August 19, 2010: State-owned Assets Supervision and Administration Commission put pressure, central enterprises "slim down" countdown.
At present, the low-ranking state-owned enterprises are looking for their own outlets, and some enterprises are facing a "dilemma"-either looking for a "backer" or entering the "CIC No.
2".
Despite the difficulties, a person from the State-owned Assets Supervision and Administration Commission of the State Council stated that the goal of adjusting and reorganizing central enterprises to less than 100 by the end of the year will never change.
This also means that central enterprises with obvious advantages will usher in new expansion opportunities.
The current SASAC’s approach to promoting the reorganization of central enterprises is to let the central enterprises that need reorganization negotiate on their own, but set a deadline-the reorganization must be completed before the end of this year.
If the negotiation is successful and approved by the State-owned Assets Supervision and Administration Commission, the reorganization plan can be submitted to the State Council, otherwise the lower-ranked central enterprises may be included in the "China Investment Corporation No.
2" when the "deadline" arrives.
According to people familiar with the matter, in addition to Chinalco and Minmetals are currently "grabbing" Beijing Nonferrous Metals Research Institute, China Railway Construction Corporation has also contacted two other central enterprises and intends to realize reorganization.
The two central enterprises are China Railway Communication and Signal Group Corporation and a central enterprise engaged in architectural design research.
It is worth mentioning that, recently, China Railway Construction has just completed the change of coaches, the former chairman Li Guorui resigned, and his successor is Meng Fengchao, former party secretary and president of China Communications Construction Group Co.
, Ltd.
At almost the same time, China Communications Group has just merged and reorganized China Real Estate Group.
There are many signs that central enterprises with obvious advantages like China Railway Construction may usher in new expansion opportunities.

Restructuring encountered resistance.
People from the State-owned Assets Supervision and Administration Commission stated that there are many ways to integrate central enterprises, but in addition to the main method of joint reorganization between related central enterprises, there is also a major way to collectively enter the "China Investment No.
2", that is, Guoxin Asset Management Co.
, Ltd.
However, judging from the current situation, the enthusiasm of central enterprises to enter the "CIC No.
2" is not very high, and the reorganization of central enterprises has also encountered certain resistance.
Insiders within the SASAC have also acknowledged this.
The people involved in the reorganization are either not very clear about the progress of the restructuring, or they appear to be secretive.
Some people even worry that they may be sold after entering the "CIC No.
2".
Li Rongrong, director of the State-owned Assets Supervision and Administration Commission, said that the reorganization of central enterprises will be accelerated in the second half of the year.
He also emphasized that central enterprises will be reorganized to less than 100 within the year.
"We think this is a measure to promote the development of central enterprises as soon as possible.
" A person from the TravelSky Information Office said.
A few days ago, some media reported that China TravelSky was unwilling to be included in the “China Investment Corporation No.
2”.
The above-mentioned persons did not give a clear reply, only saying that “no news about the reorganization was received.
” The aforementioned person from the SASAC stated that the main reason why some central enterprises are unwilling to be reorganized and want to develop independently is that “everyone wants to do it by themselves, and it always feels a bit short to merge into other central enterprises under the banner of others”, especially in the current days.
This kind of psychology is even more obvious for state-owned enterprises that are better off.
However, this person emphasized that it is imperative to reorganize from the overall situation of the long-term development of central enterprises, and the above-mentioned "slimming plan" of central enterprises will never change before the end of the year.

(This station reporter Xingchen)

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