At the same time as the 097 nuclear submarine disappeared. Capital.

"Chief, this is the "Seeking Truth" magazine published today, and there is an article in it that may be of some help to solve the current development and investment dilemma in Africa," the secretary respectfully sent the latest issue of "Seeking Truth" magazine to Vice Premier Wu Yongtai.

Holding the magazine, which still smelled of ink, Vice Premier Wu saw that there was also a bookmark inserted on the magazine, and he naturally opened the chapter where the bookmark was located, and an article entitled "Research on the State-owned and Private Mechanism" came into view.

This article briefly describes the formation of the concept of state-owned private and some successful cases in history, for this kind of state-owned shares account for a relative majority rather than an absolute majority, the ownership and management rights are effectively separated, so that the board of directors and the management team representing the rights and interests of shareholders have formed a new relationship between each other independent and mutually restrictive, so that the enterprise has made great progress, the author has made detailed statistics of the information he can obtain, compared with the development of similar state-owned enterprises in the same period, and obtained a conclusion. This new enterprise mechanism won almost all of them.

According to the statistical analysis of the author of the article, after more than five years of development, the development gap between state-owned private enterprises and state-owned state-owned enterprises is as little as several times as small as several times and as large as hundreds of times. The article argues that for most types of industries, this new mechanism has more advantages than selling state-owned assets in terms of value-added and value-preserving of state-owned assets, and at the same time makes the greatest contribution to society.

If the state-owned enterprises are completely in the hands of private enterprises after being bought out, on the one hand, there are huge losses caused by the artificial undervaluation of state-owned assets, and there is a huge space for rent-seeking in the middle, and these private capital is also likely to carefully package these state-owned enterprises and go public, after a large amount of money from the stock market, the small and medium-sized shareholders who are attracted to it have no say at all about such privately controlled enterprises, and then are once again exploited by these private capital groups. As a result, these so-called entrepreneurs regard listed companies as cash cows for money, rather than running good enterprises with their hearts.

The state-owned assets are not sold assets but become shareholders as relatively controlling major shareholders, but do not seek the right to operate, but use the resources of the social management elite as the management team, so as to completely remove the bureaucracy of state-owned enterprises, and form a new incentive mechanism in the system, so that these enterprise management elites can obtain benefits from the development of the enterprise, and they act as decision-makers and supervisors of business activities, and take the results of enterprise management as the guide to assessment and incentive, which usually greatly activates the vitality and creativity of the enterprise management team.

This new mechanism is different from contracting because most of the results of the company's development are attributed to shareholders, and a small part is distributed by the management team. Therefore, it is not suitable for small enterprises, but for large enterprises, this mechanism can protect the dual interests of the company's shareholders and management team, so that the enterprise can develop faster.

The author of the article believes that for the restructuring of large state-owned enterprises, this method may be a new way of thinking, which can promote the appreciation and preservation of state-owned assets more than selling them.

Vice Premier Wu carefully read the paper, thought thoughtfully for a while, and then said to Secretary Wang: "Xiao Wang, can you contact the author of the article?" ”

"Chief, the author is a professor at the Chinese Academy of Social Sciences, named Yuan Hongfa. He has been specializing in the restructuring of state-owned enterprises for more than 20 years, and has always been relatively independent, and has also been relatively influential in the field of enterprise research theory. Secretary Wang replied in a low voice, obviously Secretary Wang knew everything about Vice Premier Wu's troubles during this time, and he had been careful about this matter on weekdays, so that he could act immediately while seeing this article, and inquire about the relevant background of this article in a short period of time.

"You've done a great job with this." Vice Premier Wu nodded with satisfaction and said, "Let's see when I have time, help me make an appointment with this professor, I want to discuss it with him in person." ”

A few days later.

"State-owned and private? State-owned assets account for a relatively majority of the first shareholder, and the rest of the share capital is composed of a number of non-consistent interests of the private capital" Cai Siqiang did not expect to wait for a long time, he received a new plan from Vice Premier Wu's office, seeing the unfamiliar new terms on the plan, Cai Siqiang was a little confused to read the new plan, and couldn't help but let out a long breath.

Although the meaning of the term is still a little unclear, Cai Siqiang can fully understand the share distribution ratio of this African resource development company in the plan, state-owned assets in the new company do not exceed 45 percent, the share capital of a single private capital company and its associated companies with common interests does not exceed 35 percent, the total shares of the three private capital companies cannot exceed 50 percent, and the state-owned assets only seek the position of chairman of the board of directors, but do not interfere in the management team at all, and the entire management team will be recommended by the private capital group that invests in the capital.

The remuneration of the management team will be paid according to the results of the company's operation, up to 5% of the after-tax profit, and will be paid in various ways such as cash and options.

"Interesting, there is progress" When Eric received Cai Siqiang's fax, after reading it carefully, he commented with a smile on the video conference, "It seems that this is the last and best concession on the part of the government, state-owned assets account for a relative majority, and only require control of the board of directors to ensure the strategic direction of the entire company, rather than the private capital with the same interests to occupy the majority of the shares, and recommend the management team, so that the management team has to do its best to seek benefits for the company, plus the income is linked to the operating results, It is undoubtedly the best promotion in terms of ensuring the company's efficiency. ”

Eric continued, "This is a good way to kill birds with one stone, on the one hand, it can solve the concern of private capital entry, after all, the management right is in hand, and it is up to you to do it well and badly, and solve the financing problem; Second, the control is in hand, private capital is not monolithic, and it is relatively easy for the government to pull one or two partners to control the direction of the enterprise in the board of directors; Thirdly, we can also borrow professional managers of private capital to do a good job in enterprises without much effort, so that the value-added and value-preserving of state-owned assets can be more efficient and guaranteed. ”

"But in this way, SAL and our Li family may not be able to invest on a large scale at the same time, okay, Xiao Cai, this investment, your SAL will take the lead, anyway, you have more cash in your hand now than I have."

"Eric, what's so embarrassing?" Cai Siqiang heard Eric say, "We are still half of the family in this matter, accounting for 35% in total, and the rest will find some partners with a share of less than 10%." ”

"There's no need, this is the project you found, and I'm the one who says I'm sorry, and I'm happy to be able to give me 10 percent. And this fund we separate, not from the Oriental Mining, Oriental Mining can continue to pay attention to some more remote resources, I think some rare metals are still very interesting, but the state has no restrictions, with the current scale of Oriental Mining is just right to do. Although in the eyes of Eric of the old Li family, this is a money-making business, but since the official has drawn the line, there is no need to say anything more.

Now the cooperation between the old Li family and SAL is deepening day by day, and they have benefited a lot from it, and a new pillar has been created. Although the old Li family also made a lot of efforts in the process, but without Duke's technical resources, they would definitely not be able to do it today.

So Eric is very happy with the state he is in. The most important thing to be a human being is to know how to advance and retreat and be satisfied.

(Thank you very much for the support of "enti123" and "rob73" commuter passes!) Today's 2 more, the remaining one will be added tomorrow! ）