Central enterprises stripping non-main business hotels, Air China, Baosteel without exception

To "cool down" investment in non-main industries such as real estate, start stripping off the non-main business hotel Central Enterprise Assessment, the opening of a new "baton" (economic focus) The performance evaluation system of the center of Enterprises was mainly based on profit and other financial indicators, the spirit of "more profit the better" idea, some enterprises are keen to increase investment, Individual enterprises even by the end of the sale of land, the transfer of a part of the equity to achieve "book profit" The new assessment method to clear central enterprises to engage in investment in the non-public sector, make more money, the assessment is only half to calculate. A good profit in the hotel and the transfer of land, is not the main business and will be bound although there are always the central enterprise "King" was born, but within the central enterprises, a "prominent main business, strict control of the investment in the non-main business" has been quietly accelerated. Some of the hotel's hotels are listed on the property rights trading market.　　At the beginning of the new year, SASAC director Li repeatedly stressed: the core task of central enterprises is "to do strong main business increase strength." The new assessment method to the enthusiastic investment in real estate, such as "cooling" 2010 into the central enterprises in charge of the third assessment period, the head of the central enterprises also ushered in a new performance evaluation method. According to the new method, the income of the central enterprises ' investment in the non-main business will be halved.　　Many people believe that this is to the central enterprises in the investment "cooling". 2009, a large number of central enterprises in the real estate industry, and frequently to take the high price, but in fact, the main business, including real estate development and management of the central enterprises only more than 10.　　In this process, although the SASAC has repeatedly reminded the central enterprises to focus on the main business, but in the context of the impact of the international financial crisis, "the main industry is not making money, real estate money fast" status or attract a company. The new assessment method can be said to be "the right remedy", the clear central enterprises engaged in the non-main business investment, make more money, the assessment is only half of the calculation, take less than a lot of points.　　Sasac also made it clear that the proceeds of land transfers were also non-recurrent, in other words, that not exploiting real estate only sold land would also be constrained. The "Minus" is also "increasing". The new approach provides that encourage enterprises to invest more in research and development, to calculate the evaluation score according to the same profit as profits, to encourage enterprises to invest in the investment of strategic resources, to devote large amount of exploration cost to enterprises, and to study and develop the cost according to a certain proportion, to encourage sustainable development investment and to work under construction　　Deducted from the cost of capital. What happens if the test scores are not high?　　Sasac clearly affects not only the remuneration and incumbency of the person in charge, but also the income of all employees of the enterprise if the company's rating is low or down. Weight accounted for 40% of the economic Value added assessment, resolutely reversing the "more profit the better" high risk investment impulse from 2010 onwards, all the central enterprises will carry out economic value added assessment, and accounted for 40% of the assessment weight.　　This is a new thing for most central enterprises. Economic Value added refers to the balance after tax net operating profit minus the cost of capital. The capital cost is "adjusted capital X Average capital cost rate", the adjusted capital is "averageOwner's Equity + average total liabilities-average interest-free current liabilities-average construction project; The capital cost rate is currently set at 5.5%.　　This kind of appraisal method, its core is to emphasize the capital investment also has its cost, the enterprise's profit only then has the significance when the capital cost. The emphasis on capital cost has profoundly changed the operation of the central enterprises.　　Before the central enterprise performance appraisal system mainly to profit and other financial indicators, with the idea of "more profits, better", many companies are keen to invest more, rather than thinking about what the investment benefits are; individual companies, even by the end of the year to sell a piece of land, transfer a portion of equity, so that the book on the status of profitability. Sasac's deputy director of the assessment, said Huangshu, the international financial crisis, some of the major international enterprises into trouble, one common reason is excessive expansion, blind mergers and acquisitions, a large number of capital investment in inefficient areas.　　The implementation of economic value added assessment, is to let the central enterprise to take warning, in the operation not only pay attention to production and operating costs, but also to consider the cost of capital, to ensure that investors provide more returns and benefits, strict adherence to capital discipline, "the high risk areas of their own cannot be controlled resolutely do not vote, damaged shareholder value of the project　　Start stripping hotel, prompting the central enterprise focus on the main industry to guide Central Enterprises focus on the main business, SASAC's latest action is to start the separation of non-main hotel: 3-5 years to complete the separation and reorganization, the separation of the central enterprises in the future will not be able to invest in new operating hotels.　　At present, the number of central enterprises is 129, most of them have hotels. SASAC related officials said that from this year onwards will be issued every year, the Central Enterprise Hotel separate restructuring work of the annual Plan, organize the implementation of separation and reorganization work. Major industries and key areas of the central enterprises of the non-main hotels hotel separation and reorganization work will advance.　　The separation and reorganization scope not only includes the central enterprise also involves its all levels of enterprise, the separate non-main hotel hotel will be restructured to the Hotel Hotel as the main business enterprise by means of free transfer of state-owned property rights, agreement transfer and market transfer. It is understood that, although some central enterprises in the hotel profit situation is good, even to a five-star level, but now no exception to face the fate of separation. Some of the central enterprises have begun to transfer their hotels in the property rights trading market, such as Baosteel to 39.753 million yuan listing price, to sell 18 Li shop in Beijing Chaoyang District 10 Li River Baosteel Hotel overall property rights, Air China to 2.3 billion listing price, the overall transfer of Beijing Xiao Yun Road near the Air China building.