China's new company's four mysteries to be solved today

Shopo, the securities Times reporter, has been preparing for years of "CIC second"--China's new Holdings Limited liability company will unveil its veil today. Despite earlier media coverage of the country's new companies, but in the Sasac "do less" low-key style, about the new company in all aspects, there are still not very clear place.　　This includes the positioning of the new company, into the list of companies, senior executives, registered capital and other four core issues.　　Positioning: Reorganization platform or asset operation platform?　　Although the first half of the country's new company has been formally approved by the State Council, but only today announced the establishment, mainly because the SASAC internal to the new company positioning has been a different voice. China's new company is Sasac's 3rd state-owned Assets management company, and the other two are Chinese Cheng Tong and the country to open a vote. Cheng-Tong is mainly engaged in modern logistics, comprehensive trade, the main investment in the country to do the basic areas.　　Although they have been responsible for the disposal of non-performing assets after their establishment, they are not solely based on the operation of equity, property-oriented assets operating companies. The national new company is a state-owned and central enterprises specializing in capital operations and asset disposal platform, specifically engaged in state-owned property rights management and capital operation, but there is no administrative functions, generally not directly engaged in production and management activities.　　Through the establishment of the state-owned new company will make the state-funded management model to "SASAC-asset management companies-central enterprises," the three-tier structure. But the "three-tier architecture" model is not without doubt. According to media reports, some of the SASAC system insiders believe that Sasac set up a state-owned operating company for capital operation is premature, now want to one-step "too idealistic." The most important thing for the new company is to assume the responsibility of the central government to withdraw and dispose of the bad assets. Earlier, SASAC former director Li also repeatedly said, "The main responsibility of the new company is to speed up the integration of central enterprises and adjust the state-owned industrial layout, will be included in some small, inefficient, should be withdrawn from the market." "It is noteworthy that the new company has quietly held a 2.5% per cent stake in Minmetals, the company's largest shareholder, according to the announcement of the December 18 Minmetals development.　　The move is similar to the positioning of the country's new companies to "accelerate integration and adjust the layout of central enterprises".　　Into the enterprise: is "three types of central enterprises" or "backward students"? Regardless of positioning, there will be a number of central enterprises to be "packaged" into the country's new company has become the SASAC consensus.　　Because only part of the central government to install the new company, to achieve the SASAC scheduled to the end of this year to reduce the number of central enterprises to 80 to 100 of the target. The question is, which central enterprises will be included? The reporter learned that, although many central enterprises operating performance is not ideal, but they do not want to enter the country's new company. Why？ Some state-owned executives say the new company is an asset management company, the direction of future operations is to operate the capital operation of equity, if the load may also face a second reorganization, which means that the central enterprises will be loaded from the original level of the company gradually become the new company's "son" company or even "grandson" company. Company-level, executive-level reductionDifficult to be accepted by these central enterprises. But this year held the central enterprise leaders meeting has been clear: "To set up a new asset management company as an opportunity to accelerate the restructuring of central enterprises and adjust the pace, this year, to adjust the center of enterprises within 100."　　"In this regard, a group of central enterprises will have to be incorporated into the new company." Prior to the state-funded experts suggested that three types of central enterprises should be the first to enter: One is a scientific research institute, one is operating loss of the enterprise, one is a pure competitive enterprise. It is also said that the results of the ranking of more than 20 central enterprises will be the first to be incorporated into the country's new companies.　　But in the end, there is no conclusive conclusion as to which central enterprises will be drawn into the country's new company.　　Chairman: Who else besides Xie Qihua? In addition to positioning, into the enterprise issues, personnel issues are troubled by the new company has been unable to establish a major reason.　　Because the company's candidate is difficult to determine, follow-up related to the company's structure, personnel arrangements and other specific work will be difficult to expand. In fact, there have been several versions of senior executives of the new state company. Earlier this year, there were rumours that the general manager of the new national company would be chaired by Ma Zhengwu, chairman of China's Prudential, or Wang Huiseng, the country's president, because the two companies had been effective in dealing with bad state assets.　　Then, Fred, a former economist at Goldman Sachs, was a popular candidate for the general manager of the new national company, 60%. As for the Chairman of the board, there is news that the Deputy director of Sasac Shaoning or will be the chairman of the Board, because it facilitates the cohesion between the central government and the SASAC, facilitating the rapid and scientific decision-making.　　However, under the Civil Service Act, civil servants are unable to engage in or participate in for-profit activities, and concurrently serve in enterprises or other for-profit organizations. The latest news is that Xie Qihua, former chairman of Baosteel Group, will serve as chairman of the new company, and the former chairman of the Sasac Supervisory Bureau Liu Dongsheng the general Manager and party secretary of the new state.　　Xie Qihua does not participate in the direct operation of enterprises, only responsible for strategic decision-making, the convening of the board, and Liu Dongsheng is the real "leader", the specific responsibility of the new company operation and Management. According to the information provided by the State Administration for Industry and commerce, Liu Dongsheng has determined to become the legal representative of the new State corporation.　　But if Xie Qihua is the chairman of the new company, the answer will have to wait until the final announcement.　　Registered capital: Level 1 billion or Bai? The number of registered capital directly determines the country's new company's "energy", so the problem is quite the industry value. However, this figure was rumored to be about $20 billion in the middle of this year and was passed to $50 billion by November.　　The latest claim is 4.5 billion yuan and all in money. However, none of the above data was confirmed by SASAC.　　One available data is that the SASAC reported to the Ministry of Finance in 2010 the central state capital operating budget expenditure of 44 billion yuan, said that there will be 18.3 billion yuan for the state-owned economy and industrial restructuring spending. The State Council executive meeting, held at the end of June this year, has made it clear that special funds will be set up to support the merger and reorganization of central enterprises. It is reported that the Treasury is taking the lead in the central state-owned capital Operation PreThe establishment of special funds to support the Central Enterprise merger and reorganization.　　Some of the registered capital of the new company will also be determined from the other part of the dividend from the central government. National new company registered capital is 1 billion level or Bai? Today will be seen.