Chapter 029 Bodhisattva Heart, Thunder Means

"The restructuring of Jianggang, such a large-scale thing, was delegated from the central government to your Xianglin, and it was done in more than a month?" Xiao Chen's voice came from the phone: "Tens of billions of large enterprises, all aspects of things have been negotiated, thousands of laid-off workers have been settled, and new teams have been constructed...... So many things can be done in a month, why didn't I find out that our state-owned enterprises are still so capable before? ”

Li Zhengfeng held his mobile phone and sighed: "Director Xiao, I also feel that this matter is a bit hasty, and this is the way it is......" Li Zhengfeng said about the previous approval by the Provincial State-owned Assets Supervision and Administration Commission, and then said: "When I returned to Heng Chūn, the approval had already been issued, and Jianggang was moving faster, and when I got to Heng Chūn, it had been completed." ”

Xiao Chen was silent for a while, let go of the topic, but said: "The Third Plenary Session of the 16th Central Committee is about to be held, I am going to attend the meeting, and I will return to Beijing tomorrow. Let's talk about it in Kyoto. ”

Li Zhengfeng breathed a sigh of relief and nodded, "Okay." ”——

Twenty-five years ago, marked by the convening of the Third Plenary Session of the 11th Central Committee, the land of China was surging with reform. The problem of food and clothing, which has plagued China for thousands of years, has been solved, and the great cause of national rejuvenation has shown bright prospects.

Ten years ago, the Third Plenary Session of the 14th CPC Central Committee outlined the basic framework of the socialist market economic system. The establishment of a socialist market economic system has brought about tremendous economic and social development. The Chinese people's dream of being well-off for thousands of years has been realized.

In October 2003, the Third Plenary Session of the 16th Central Committee of the Communist Party of China was successfully held......

The Third Plenary Session of the 16th Central Committee of the People's Republic of China was held in Beijing from October 11 to 14, 2003.

Present at the plenary session were 188 members of the Central Committee and 154 alternate members of the Central Committee. Members of the Standing Committee of the Central Commission for Discipline Inspection and responsible comrades of relevant departments attended the meeting as observers.

The plenary session was presided over by the Political Bureau of the CPC Central Committee. Gu Banglan, general secretary of the Central Committee, made an important speech.

The plenary session listened to and discussed Gu Banglan's work report commissioned by the Political Bureau of the CPC Central Committee, deliberated and adopted the "Decision of the CPC Central Committee on Several Issues Concerning the Improvement of the Socialist Market Economic System," deliberated and adopted the "Proposal of the CPC Central Committee on Amending Part of the Constitution," and decided to submit it to the Standing Committee of the 10 th National People's Congress for deliberation. Wu Jiaan and Wen Chengxi respectively explained the "Proposal" and "Decision" to the plenary session.

The plenary session fully affirmed the work of the Political Bureau of the CPC Central Committee since the First Plenary Session of the 16 th CPC Central Committee. It was unanimously agreed that the Political Bureau of the CPC Central Committee adhered to the guidance of Zheng Nanxun Theory and the important thinking of the "three represents" and comprehensively implemented the spirit of the party, which not only maintained the continuity and stability of the party's line, principles and policies, but also proceeded from reality to study new situations and solve new problems, actively created a new situation in reform, opening up and socialist modernization, united and led the whole party and the people of the whole country to overcome all kinds of difficulties and risks on the way forward, and won a major victory in the prevention and control work. It has maintained the good momentum of relatively rapid economic growth and all-round development of various undertakings, and consolidated the political situation of striving for progress, stability, and unity.

The plenary session spoke highly of the major progress made in theory and practice in the reform of China's economic system since the Third Plenary Session of the 11 th CPC Central Committee, especially the 14 th CPC National Congress, set the goal of reforming the socialist market economic system. He stressed that in order to adapt to the international environment of economic globalization and accelerated scientific and technological progress, and to adapt to the new situation of building a moderately prosperous society in an all-round way, it is necessary to accelerate reform, further liberate and develop productive forces, and inject strong impetus into economic development and social progress in an all-round way in accordance with the strategic plan of building a perfect socialist market economic system and a more dynamic and open economic system. In accordance with the requirements of coordinating urban and rural development, regional development, economic and social development, harmonious development between man and nature, domestic development, and opening up to the outside world, we should give greater play to the basic role of the market in the allocation of resources, and provide a strong institutional guarantee for building a moderately prosperous society in an all-round way.

The plenum stressed that the main tasks of perfecting the socialist market economic system are: perfecting the basic economic system with public ownership as the mainstay and the common development of economies under various forms of ownership, establishing a system conducive to the gradual change of the dual economic structure of urban and rural areas, forming a mechanism for promoting the coordinated development of the regional economy, building a modern market system that is unified, open, competitive, and orderly, perfecting the macroeconomic regulation and control system, the administrative management system, and the economic and legal system, improving the employment, income distribution, and social security systems, and establishing a mechanism for promoting sustainable economic and social development. To deepen the reform of the economic system, we must be guided by Zheng Nanxun Theory and the important thinking of the "three represents," comprehensively implement the spirit of development, emancipate the mind, seek truth from facts, advance with the times, adhere to the direction of reform of the socialist market economy, adhere to the spirit of respecting the initiative of the masses, persist in correctly handling the relationship between reform, development, and stability, persist in taking into account overall planning, persist in putting people first, establish a comprehensive, coordinated, and sustainable outlook on development, and promote the all-round development of the economy, society, and people.

The plenum held that it is necessary to uphold the dominant position of public ownership, give play to the leading role of the state-owned economy, actively promote various effective forms of public ownership, and speed up the readjustment of the layout and structure of the state-owned economy. It is necessary to adapt to the trend of continuous development of economic marketization, further enhance the vitality of the public-owned economy, vigorously develop the economy under the joint ownership system in which state-owned capital, collective capital, and non-public capital participate in the economy, realize the diversification of the main body of investment, and make the joint-stock system the main form of public ownership. Enterprises that need to be controlled by state-owned capital should implement absolute or relative control according to different circumstances. It is necessary to establish and improve the system of management and supervision of state-owned assets, deepen the reform of state-owned enterprises, improve the corporate governance structure, and accelerate and improve the reform of monopoly industries. It is necessary to vigorously develop and actively guide the non-public sector of the economy, and allow non-public capital to enter infrastructure, public utilities, and other industries and fields that are not prohibited by laws and regulations. Non-public enterprises enjoy the same treatment as other enterprises in terms of investment and financing, taxation, land use, and foreign trade. It is necessary to improve the service and supervision of non-public enterprises.

The plenum held that property rights are the core and main content of ownership. The establishment of a modern property rights system with clear ownership, clear rights and responsibilities, strict protection, and smooth circulation is conducive to safeguarding public property rights and consolidating the dominant position of the public economy; It is conducive to the protection of property rights and the promotion of the development of the non-public economy; It is conducive to the flow and reorganization of all kinds of capital and promotes the development of the hún joint ownership economy; It is conducive to enhancing the driving force of enterprises and the public for entrepreneurship and innovation, and forming a good credit foundation and market order. This is an intrinsic requirement for perfecting the basic economic system and an important foundation for building a modern enterprise system. It is necessary to protect all kinds of property rights in accordance with the law, improve the rules and supervision system for property rights transactions, and promote the orderly circulation of property rights.

Xiao Chen, alternate member of the Central Committee of Huaxia**, deputy head of the Leading Group for the Revitalization of Northeast and Other Old Industrial Bases of the Government Council, director of the Office for the Revitalization of Northeast China, and deputy director of the National Development and Reform Commission of the Government Council, attended the meeting.

Li Zhengfeng, member of the Standing Committee of the Xianglin Provincial Committee of the People's Republic of China, executive vice governor of the Xianglin Provincial People's Government and deputy secretary of the party group, attended the meeting as an observer.

After the meeting, Wang Kun, Secretary of the Xianglin Provincial Party Committee, Hou Dongxiang, Governor of Liao'an, Zhang Bayan, Governor of Longjiang, Guo Yundong, Deputy Secretary of the Liao'an Provincial Party Committee, Chen Mingren, Executive Vice Governor of Liao'an Province, Li Zhengfeng, Executive Vice Governor of Xianglin Province, Yang Zongyu, Secretary of the Xianglin Provincial Commission for Discipline Inspection, and Li Chengtai, Secretary of the Longjiang Provincial Commission for Discipline Inspection, jointly invited Xiao Chen, director of the Northeast Revitalization Office, to Liaodu Building to informally discuss matters related to the revitalization of the old industrial bases in the three eastern provinces, especially the reform of the state-owned enterprise system.

It is said that this kind of gathering, which seems to have the nature of "sī in tandem", not only should Xiao Chen not agree to participate, but these provincial and ministerial-level senior cadres should not make such a move. However, they did it now, and Xiao Chen also responded calmly, and happily went to the banquet openly. And Xiao Zheng, Vice Premier of the State Council, who was sitting in the center, did not call Xiao Chen about this matter, asking him to pay attention to the impact and so on, and the atmosphere was a little weird for a while.

As for the strange words passed down by some people, such as the "Xiao Family Dynasty", the "Northeast Gang Young Gang Leader" and the like, Xiao Chen naturally didn't know it, but he just ignored it at all. After all, no matter how many people talk like a jar of rice and vinegar, they can't deny Xiao Chen's achievements in politics in the past ten years, it is not a political achievement such as repairing a few squares, it is a real political achievement that speaks with various data, and no matter how picky people are, it is difficult to find flaws in it. If you have to pick bones in the egg, you can only say sourly: "If others have the help behind Xiao Chen, they may not be worse than him." But I am afraid that even he will not believe it.

Nine provincial and ministerial-level giants from the three eastern provinces are going to have a meeting, and Liaodu Building, as the banquet organizer, naturally attaches great importance to it. Although Governor Hou did not deliberately emphasize anything, the general manager of Liaodu Building knew that this "sī meeting" about the future fate of the old industrial base in the three eastern provinces could be placed in the Liaodu Building, not the Heng Chūn Hotel or the Longjiang Building, which was originally easy to win in Liao'an Province. It is important to be perfect in all arrangements, and not to be underestimated.

Although it is a meeting, people who are familiar with Chinese officialdom know that meetings are often much more important than meetings, as the so-called important meetings are not many, and the exchange of opinions between leaders is the most important, so this meeting, for the three eastern provinces, its importance may not even be worse than the Third Plenary Session held during the day! For such a banquet, the Liaodu Mansion really racked its brains and did its best.

The box is naturally the most noble and luxurious diamond VIP suite, the elegant and atmospheric European style chandelier, the golden and noble indoor atmosphere lighting, and the main furnishings of gold sè and red sandalwood sè, all the time emphasizing how noble the identity of the person who can come to this box to dine.

However, several giants who attended the banquet seemed to be against Liaodu Building, almost all of them came in more casual clothes, autumn jackets became the mainstream, and no one wore suits.

Everyone has a very tacit understanding of this.

It was a sī banquet with no political purpose at all.

Even if everyone knows that this is, this light still has to be shown to everyone.

Politics has always been like that.

Even though the nine giants all made the appearance of a meeting, Fang Zonghan, the general manager of Liaodu Building, still waited carefully outside the door of the box in person, for fear that the people below would not be able to speak and do things, and if there was something inconsiderate, it would be a major matter related to the job of the general manager of the other party, and he must not be careless.

Taking advantage of the opening of the door several times, Manager Fang realized that it was indeed talking about the way to revitalize the old industrial base in the three eastern provinces after the Third Plenary Session of the 16th Central Committee, if I heard it correctly, the main topic focused on how to prevent the loss of state-owned assets in the reform of the state-owned enterprise system.

"Why is it that after more than 20 years of state-owned enterprise reform, this issue (the loss of state-owned assets) has attracted so much attention and such fierce debate, and even raised questions about the rationality of SOE reform? From the perspective of empirical economics, some scholars have given the current reform of property rights of state-owned enterprises (SOEs) a head-scratch, and I think it should not only arouse some thinking in the legal circles, but also those of us who should reflect on it. Over the past 20 years, the reform of state-owned enterprises has basically been carried out under the guidance of economists, economics is a discipline without value judgment, and there is a lack of jurists, and the absence of laws will inevitably lead to the phenomenon of extreme obliteration of fairness due to excessive consideration of efficiency in the reform process. When the reform of state-owned enterprises entered the field of property rights, one of the most direct consequences of the absence of laws was the massive loss of state-owned assets. Yang Zongyu, secretary of the Xianglin Provincial Commission for Discipline Inspection, said.

Seeing that everyone's eyes were focused, Xiao Chen knew that it was time for him to respond, as the leader of the "double cultivation" of law and economics, it was appropriate for him to speak at this time.

"To discuss a certain issue in jurisprudence, it is first necessary to clearly define the concept of discussion, otherwise it will be a matter of different opinions. State-owned assets, which are widely discussed in society today, are actually a concept that lacks strict definition. In reality, people talk about state-owned assets that are often state-owned property in state-owned enterprises, or even just tangible property, such as land, factories, money, etc. However, from a legal point of view, the content of state-owned assets is much broader than what people understand in reality, including not only the property owned by the state-owned enterprise Huaxiajia, which is an operational state-owned asset, but also the state-owned assets such as rivers, mines, land, tidal flats, and oceans that are owned by the state according to the constitution, as well as the assets owned by the state in administrative institutions, which are non-operational state-owned assets; It includes not only the content of self-property rights enjoyed by the state, but also the content of other property rights and intangible property rights enjoyed by the state; It includes not only the state-owned assets of the wholly state-owned companies under the corporate system, but also the state-owned assets of a large number of unincorporated state-owned enterprises. In reality, people's understanding of state-owned assets is actually limited to the field of legal self-property rights, while state-owned assets in the nature of other property rights and state-owned assets in the nature of intangible property rights are often ignored by people. Today, we feel that the serious problem is that in the process of reform of state-owned enterprises, there is a large loss of assets in Huaxia, but is it not only the state-owned assets in the field of self-property rights that should be our concern? ”

After throwing out such a question, Xiao Chen put down the goblet in his hand and said: "Operating state-owned assets include financial state-owned assets and non-financial state-owned assets, the former refers to state-owned assets existing in financial enterprises, and the latter refers to state-owned assets existing in non-financial enterprises. From a legal point of view, these assets belong to the object of property rights in civil law, and property rights are only part of property rights. In reality, the state-owned assets that people talk about are often limited to the state-owned assets in non-financial enterprises, that is, the state-owned assets in the state-owned enterprises we usually talk about, for example, the state-owned assets supervised and managed by the State-owned Assets Supervision and Administration Commission are limited to the state-owned assets in the state-owned enterprises at the central level.

Non-operating state-owned assets, that is, resource and administrative state-owned assets, seem to have nothing to do with our current state-owned enterprise reform, but non-operating state-owned assets may have to be converted into operational state-owned assets. With the development of the economy, more and more resource-based state-owned assets will be developed and utilized, and then it will become operational state-owned assets. Some administrative state-owned assets may also enter the business field under the conditions of a market economy. For example, in May this year, seven shareholders of the listed company ST Xiang Light Industry transferred a total of 50,168,800 corporate shares to the New Century Education Development Company, and among the major shareholders of the New Century Company, Xiaonan Xiangxi University held 98% of the shares, and the National Education Development Research Center held 1% of the shares. Xiangxi University is a public university, and the National Education Development Research Center is a research institute of education policies and regulations directly under the Ministry of Education. At present, in the process of converting many non-operating state-owned assets into operational assets, there is no clear legal definition, and it has always relied on a random and policy-based governance method, rather than a legal governance method. ”

When he said this, several giants looked at him with burning eyes, but he was calm and indifferent, and continued to explain: "The state-owned assets of the nature of his real rights refer to the operational state-owned assets generated by the development and utilization of state-owned assets of the nature of real rights, such as the right to develop land, the right to exploit minerals, the right to fish in the ocean, and the concession of state-owned assets in certain fields. If state-owned assets only stay in the field of self-property rights and are not developed and utilized, it is impossible to achieve the purpose of maintaining and increasing value, so state-owned assets of other property rights should account for a large part of the entire state-owned assets. However, at present, we pay very little attention to the state-owned assets of the nature of other real rights, and there is no special assessment, and few people have examined the status of other state-owned assets of the nature of real rights.

State-owned assets in the nature of intangible property rights mainly include direct or indirect property interests brought about by intellectual property rights such as trademark rights, patent rights, and proprietary technology owned by the state, as well as business reputation rights such as enterprise name rights and trade name rights. Tangible property is valued because it is easy to identify and assess, while intangible property is easily overlooked because it is more difficult to identify and assess. State-owned assets in the nature of intangible property rights also account for a large proportion of the whole state-owned assets, but in reality, especially in the process of state-owned enterprise reform, the definition and evaluation of intangible state-owned assets are often the easiest to ignore and the easiest to lose. It is precisely because of this that Professor Lang questioned how Haier Investment obtained the ownership of Haier's trademark.

When discussing the issue of state-owned assets in the reform of state-owned enterprises, we must first clearly define the state-owned assets involved in the reform of state-owned enterprises, and then we can have a basis to discuss the problem of their loss, and only then can we formulate legal protection measures for various types of state-owned property rights. Through the legal definition, we find that the problem of the loss of state-owned assets, which has caused great concern to people, is actually a small part of the problem of state-owned assets, and the loss of a large part of state-owned assets is basically not in people's field of vision. Professor Lang sounded a wake-up call for the reform of state-owned enterprises, and we can no longer look at the problem of the loss of state-owned assets in the reform of state-owned enterprises only from an economic perspective and not from a legal perspective. ”

The incident of Professor Lang ringing the alarm bell mentioned by Xiao Chen, according to his own memory, should have appeared in 04, but for some reason, in this time and space, it appeared in the second half of 03, nearly a year earlier. He sometimes wonders, could it be that his little butterfly actually made the history of China develop a year faster? I don't think I have such a big energy, this time...... Xu was an accident?

Xiao Chen is an expert on legal issues, compared with several giants, everyone naturally nodded in agreement, and after echoing it, it was Hou Dongxiang who asked: "This plenum officially put forward the concept of hún joint ownership, Xiao Chen, we are the only one who is the central government, especially if you are also in charge of our three eastern provinces, and there are no outsiders here today, you give us a bottom?" ”

As soon as he said this, everyone naturally agreed, and Xiao Chen was not hypocritical, and said: "We know that the hún joint ownership system, especially the joint-stock system, with its complete corporate governance structure, sound operating mechanism, reasonable asset-liability ratio, and good economic benefits, is becoming the direction of the reform of state-owned enterprises, especially large and medium-sized state-owned enterprises. I thought that should be beyond doubt, right? ”

He glanced around at everyone and said: "When discussing the form of realization of public ownership, the Third Plenary Session of the 16 th CPC Central Committee clearly put forward for the first time the need to vigorously develop an economy under the combined ownership system in which state-owned capital, collective capital, and non-public capital participate in the shares, realize the diversification of investment entities, and make the joint-stock system the main form of public ownership. It can be said that this is an affirmation of the direction of the ownership reform of state-owned enterprises in the past.

Perfecting the basic economic system with public ownership as the mainstay and the common development of economies under various forms of ownership is one of the main tasks of perfecting the socialist market economic system. This basic economic system has three connotations: First, a pluralistic ownership structure. This is in terms of the social level, which means that the public-owned economy and the sī-owned economy coexist in the same social form, integrate with each other, complement each other, and develop together. The second is the economic system of the hún combination in the economic operation mechanism. Its meaning refers to the fact that in the allocation of resources, it is neither a simple market mechanism nor a simple planning mechanism, but while the market mechanism plays a fundamental role, there is also the state's macroeconomic regulation and control, and the planning and the market have their own emphasis, and jointly regulate social and economic life. The third is the form of asset organization. This is at the enterprise level, which refers to the fact that within a consortium, the public economy and the non-public economy, labor and capital and other primary forms of ownership are combined into a secondary form of ownership, such as joint-stock economy, joint-stock cooperative economy, joint venture economy, etc. ”

When talking about the law, basically no one can speak, but when it comes to the reform of state-owned enterprises itself, all the leaders have studied it, and Li Zhengfeng was the first to react: "I agree with Director Xiao's opinion, as far as the relationship between the above three connotations is concerned, the key lies in the realization form of enterprise ownership, especially the realization form of state-owned enterprise ownership. This is the basis on which the first two can play their role. The traditional form of public ownership is the state-owned system with a single property right subject, while the hún joint ownership system has multiple investors, and its enterprise equity is a hún state, that is, various ownership economies can be integrated, thus forming a form of hún joint ownership with the joint-stock system as the main form. Today, it has become a very important organizational form for enterprises in market economy countries, and it is quite vigorous. In China, when foreign capital and private capital enter state-owned enterprises, the unitary ownership structure of these enterprises will also be changed to a large extent, turning them into a more complex form of joint ownership. ”

Not to be outdone, Hou Dongxiang said with a smile: "That's right. Since the reform and opening up, the development of the collective economy and the deepening of the reform of state-owned enterprises have provided unprecedented opportunities for the development of the economic components of the joint ownership system. According to statistics, in 1999, the added value of the economy under the joint ownership of joint ventures, limited liability companies, and joint stock companies accounted for 10.6 percent of the city's GDP, an increase of 5.2 percentage points over 1995, with an average annual growth rate of 31.5 percent, and a contribution rate of 21.7 percent to the city's economic growth, an increase of 17.7 percentage points over 1996. By the end of 2001, there were 3,589 joint-stock enterprises, 14,473 joint-stock cooperative enterprises and 1,125 joint ventures in the city. In the industrial added value, the industrial added value of the joint-stock economy was 8,027.99 million yuan, an increase of 3,213.58 million yuan over the same period of the previous year, much higher than the average of the industrial added value. ”

Governor Hou spoke, and Governor Zhang of Longjiang naturally couldn't be left behind, and immediately followed his words and said: "Yes, some scholars call this kind of joint-stock system as a new public ownership system or a new state-owned enterprise. No matter what it is called, the joint ownership system, especially the joint-stock system, as a form of capital organization of modern enterprises, is generally welcomed by the state-owned enterprises, especially the large and medium-sized state-owned enterprises, because of its complete enterprise governance structure, sound operating mechanism, reasonable asset-liability ratio, good economic efficiency, conducive to the separation of ownership and management rights, and conducive to improving the operational efficiency of enterprises and capital. ”

Xiao Chen smiled slightly and stretched out a finger: "First of all, a joint ownership enterprise is not only different from traditional state-owned enterprises, but also because state-owned property rights still occupy a very important position in the property rights structure of enterprises, so they are fundamentally different from sī-owned enterprises. In other words, they maintain the basic nature of state-owned, but do not exclude non-state-owned things, and their operations can be carried out in accordance with market principles, which is precisely the best combination of socialism and market economy within enterprises. In the next 5-10 years, if the hún economy can account for 60%-80% of the overall economy, the micro foundation of China's economic development will be very solid. ”

Then he stretched out another finger: "Secondly, the biggest advantage of hún joint ownership enterprises to become asset restructuring and joint ownership enterprises is that they have realized the socialization of capital. In the process of maturing and growing stronger, the economic strength they have and the organizational capital they have accumulated have not only effectively used their own resources, but also exported organizational capital through mergers and acquisitions, thus realizing the effective allocation of resources on a larger scale. ”

Then he stretched out a third finger: "Thirdly, hún ownership is conducive to both economic and social development and the realization of the interests of the majority." The establishment of the joint ownership system is a process of introducing domestic and foreign enterprise capital into shares, including allowing enterprise managers and employees to participate in shares, clarifying the responsibilities and rights of all aspects, and strengthening supervision and checks and balances, so that we can not only introduce advanced management experience and technology of foreign enterprises, but also fully mobilize the enthusiasm of workers and operators, and ensure that enterprises improve their efficiency and competitiveness. ”

Secretary Wang Kun nodded: "That is to say, compared with other forms of ownership, the hún joint ownership system with the joint-stock system as the main form is more suitable for the national conditions of China and the development requirements of modern productive forces." Therefore, in promoting the reform of state-owned enterprises to establish a form of joint ownership, we should break the shackles of traditional concepts. In a specific stage of economic development, a small proportion of Chinese shares is not necessarily a bad thing, and a larger proportion of foreign shares or individual shares is not necessarily a bad thing. ”

Xiao Chen nodded: "Yes, private enterprises, joint ventures, including foreign-funded enterprises, and hún joint state-owned enterprises are forming the troika in the field of microeconomy in China. Promoting the reform of state-owned enterprises with the form of joint ownership as the main content will be the long-term driving force for the sustained and rapid growth of China's economy. ”

Li Zhengfeng frowned at this time, feeling that Director Xiao's words today seemed to be a little wrong? The other two secretaries of the Commission for Discipline Inspection also frowned slightly.

Xiao Chen naturally saw all this in his eyes, and suddenly changed his words: "However, the replacement of property rights in this is particular in the specific work. We want to emancipate our minds, and we must put them where they should be, but when we put them together, we can't let them lose money. ”

……

A dinner party, from 19 o'clock to 10 o'clock, the dishes have long been withdrawn, and now there are a few snacks and salads on the table, but the conversation of the giants is still continuing, at this time the conversation has been more in-depth, no more exchanges on big theories, but officially talked about the specific problems of the revitalization of the old industrial base in Northeast China.

According to Xiao Chen's view, the next step in the reform method of large, old and difficult state-owned enterprises in the northeast region should be adjusted, and the "external-type restructuring" should be the mainstay, and the investors should pay the restructuring and reorganization costs as a whole.

Focusing on "external-type restructuring" means vigorously encouraging external strategic investors, such as private enterprises and foreign businessmen, to acquire state-owned shares of enterprises, or even to acquire state-owned enterprises as a whole.

At the same time, the overall payment of restructuring and reorganization costs by investors requires the newly established and soon-to-be-established SASAC at all levels to have the courage to assume the responsibilities that investors should bear, stop good enterprises from excessively raising various compensation standards, prevent good enterprises from falsely raising restructuring costs and deduct restructuring costs directly from the net state-owned assets, resolutely collect cash income from the transfer of state-owned shares and the overall sale of state-owned enterprises, and use these cash income to pay well the restructuring costs of the enterprises themselves and the restructuring and reorganization costs of other enterprises in difficulty.

The state-owned economy accounts for a very high proportion of the total economic output of the three northeastern provinces. At the end of 2002, the total output value of state-owned industrial enterprises in Liao'an Province accounted for 62 percent of all industrial enterprises above designated size, about 20 percentage points higher than the national average, while the total output value of state-owned industrial enterprises in Longjiang and Xianglin accounted for an even higher proportion of all industrial enterprises above designated size, about 80 percent. Such a high proportion of the state-owned economy has obviously become a "problem" in the revitalization of Northeast China.

Xiao Chen stood at the height of the overall situation, and first analyzed the specific situation of this problem for several people at the helm of the three eastern provinces, and in Xiao Chen's opinion, there are four main points:

1. State-owned enterprises lack an independent structural adjustment mechanism. Many people believe that the key to the revitalization of Northeast China is the so-called "structural adjustment", and ordinary people understand this structural adjustment as industrial structural adjustment, so they believe that the technological transformation of enterprises should be regarded as the focus of Northeast revitalization. However, it is an indisputable fact that in the past 20 years or so, the structural adjustment in the northeast has been very passive and slow. Until the 1980s, industry, especially heavy industry, was the pride of Tohoku. It stands to reason that the past 20 years since the reform and opening up have been a period of rapid industrialization in China, especially now that China has entered the stage of heavy industrialization, and the economic growth of Northeast China should be able to obtain a strong impetus for industrialization. However, over the past 20 years or so, many areas with a very weak industrial base have far exceeded the industrial development and economic growth of Northeast China, and even in the current trend of heavy industrialization, Northeast China has not shown obvious advantages. Why is this happening? One of the main reasons is that state-owned enterprises occupy a dominant position in almost all industries, and state-owned enterprises lack an independent structural adjustment mechanism. Therefore, in the past, structural adjustment in Northeast China was often a government-led behavior, and state-owned enterprises often regarded technological transformation projects as a "free lunch" given by the government, so structural adjustment was easy to evolve into a cycle of "adding more water to the surface and more water to the surface", which not only always failed to keep up with the pace of the market, but also left a large amount of debt.

2. State-owned enterprises have a "crowding out effect" on the development of private enterprises. The three northeastern provinces have realized the importance of vigorously developing private enterprises. However, the development of private enterprises in Northeast China is not only far inferior to that of the southeast coastal areas, but also inferior to some inland areas. We believe that the "crowding out effect" of state-owned enterprises on the development of private enterprises is an important reason for the slow development of private enterprises in Northeast China. Since most industries are dominated by state-owned enterprises, state-owned enterprises are often more likely to obtain a variety of development opportunities than private enterprises, and the government generally believes that state-owned enterprises, as "entrants", are stronger than "fledgling" private enterprises in terms of technology, talents, experience, equipment, etc., and are more willing to give opportunities to state-owned enterprises.

3. State-owned enterprises are prone to distortion of resource allocation, deformation of government-enterprise relations, and deterioration of the investment environment. The existence of state-owned enterprises, especially the existence of a large number of old state-owned enterprises in the northeast, is easy to constantly ask for "blood transfusion" from the government due to the large number of personnel, heavy burdens, and large historical contributions, and the government has to realize the "tilted policy" towards state-owned enterprises through administrative forces, which leads to the distortion of resource allocation. In the long run, the government has gradually become "a government that serves state-owned enterprises" and "a government that is good at managing state-owned enterprises", while non-state-owned enterprises do not know how to serve and manage, and at worst they "damage" private enterprises and "serve" state-owned enterprises, resulting in the deterioration of the investment environment.

4. State-owned enterprises have left a lot of historical baggage. A large number of old state-owned enterprises in Northeast China have many redundant personnel, many retirees, and heavy debts, which has become a major historical burden. The existence of this historical burden has brought tremendous pressure to the social security system and social stability, and has also constituted a regional financial hidden danger. The non-performing loans of state-owned enterprises in Liao'an Province have reached about 190 billion yuan, of which 74 billion yuan have been "loaned" by the government government, and about 70 billion yuan is owed to the local government, and about 13 billion yuan is owed to individual workers.

This analysis is the final conclusion reached by Xiao Chen after linking theory with practice, through document investigation and personal "micro-service interviews", which naturally attracted several giants to nod their heads again and again.

Xiao Chen struck while the iron was hot and said: "Since state-owned enterprises have become a 'problem' in the revitalization of Northeast China, we can't avoid it." In my opinion, the fundamental reform of state-owned enterprises in Northeast China is a necessary condition, although not a sufficient condition, for the revitalization of Northeast China. Let's first clarify two points: 1. The situation of the restructuring of state-owned enterprises in Northeast China: small enterprises are fast, and large enterprises are slow. In the past few years, a lot of progress has been made in the reform of state-owned enterprises in Northeast China. But why is the share of state-owned enterprises in the total economy of Northeast China still far higher than the national average? It is because there are many large enterprises in Northeast China and the restructuring is slow.

2. The key reform objects in the next step: big, old, and difficult. Through my multi-faceted research, I have the following judgments: Most of the small and medium-sized state-owned enterprises in Northeast China have been restructured, and the degree of denationalization is quite high. The remaining state-owned enterprises that have not yet been restructured are divided into two parts, the first part is the difficult small and medium-sized state-owned enterprises, and the second part is the large state-owned enterprises.

95% of small and medium-sized state-owned enterprises in Liao'an Province have been restructured, but why are 5% still not restructured? The basic reason is that these are very difficult enterprises, they do not have enough net state-owned assets to cover the costs of restructuring and reorganization, and even a considerable number of enterprises have negative net assets, or are in a state of suspension and semi-suspension of production. Therefore, the payment of restructuring and reorganization costs has become an obstacle to the reform of these difficult enterprises.

For large SOEs, there are many reasons for the slow restructuring process. First of all, the state-owned net assets of large enterprises are very large, ranging from hundreds of millions to billions or tens of billions, and the form of 'internal restructuring' commonly used by small and medium-sized enterprises, that is, mainly by insiders (management and employees) to purchase state-owned shares, often does not work in large enterprises, and insiders do not have so much money to 'eat' such a huge amount of state-owned assets, and the government is not very willing to be acquired by insiders; second, compared with small and medium-sized state-owned enterprises, large state-owned enterprises have high asset quality and strong profitability. There are even some large state-owned enterprises that operate monopolies, and some local governments think that they can 'make money' from these enterprises, so why should they be so stupid to let go of this 'cash cow'? In particular, in the past two years, the macro economy has been in a boom, and the profit level of some large enterprises is quite high, and the government is even more 'in love'; third, large state-owned enterprises have an important position in the local area, and are even regarded by the local government as having the ability to do so. Fourth, the large state-owned enterprises in the northeast generally have a relatively long history, and their foundations were laid in the 50s of the last century or even in the early 20 th century; these old enterprises not only have many in-service and retired personnel, but also have their own schools and hospitals, and the welfare system is also very complete, and the cost of restructuring is very high, and if they are not careful, it will lead to social instability; fifth, a considerable part of the large state-owned enterprises in the northeast are central enterprises rather than local enterprisesIt is inevitable that the central government will have political considerations for the restructuring of these large state-owned enterprises.

Therefore, for the Northeast, the focus of the next step of state-owned enterprise reform is 'large, old, and difficult' enterprises, that is, large enterprises, old enterprises, and difficult enterprises. If these enterprises do not carry out reforms, even if all small and medium-sized enterprises are restructured, they will not be able to change the situation in the northeast region in which the proportion of state-owned economy is high, the private economy is inactive, and the regional development is backward. Of course, it is impossible to promote the reform of large, old, and difficult enterprises by following the methods of the past, and the policy of reforming large, old, and difficult enterprises needs to be innovated. ”

Innovation, Xiao Chen once again proposed innovation.

Eight pairs of eyes converged on Xiao Chen's young and resolute face at the same time. It is this young man who has gone through ten years of official travel, innovated several new systems along the way, and has been praised as a "pioneer of reform" at home and abroad, with remarkable achievements.

Today, he has once again proposed innovation, and this time, will there be another "miracle"?

Xiao Chen saw the expectation in their eyes.