Private investment embarrassed 5 years now end signs

Every reporter Tombellou from Beijing in the haze of European debt crisis, the new 36 to promote a new round of private capital tide surging.　　The controversy is whether the new policy will break the glass door. "New 36 has just come out, private capital is still skeptical." How to give investors confidence, this is the relevant authorities must solve the problem as soon as possible.　　May 18, Societe Generale's chief economist Lu Commissar, in an interview with the Daily economic news, said the new 36 will further optimize the private capital investment environment, broaden the investment field, so that private capital growth faster than the previous 5 years. Earlier in 2005, the State Council issued "on the encouragement of support and guidance of non-public Economic development," (commonly known as the Old 36), but the private investment in a relatively rapid growth, but also because of institutional barriers have not fundamentally broken into a confused period.　　However, statistics show that the recent resurgence of public capital, investment growth has exceeded state-owned and state-controlled investment of 9.3%, which may herald the "embarrassing 5 years" of private investment is expected to end.　　New and old 36 between the "embarrassing 5 years" in the new 36 article, the private capital has been looking for various investment opportunities, but most of the reactive return. "The profound background is that, 5 years since the release of the old 36 article, the institutional barriers faced by private investment have not been fundamentally broken." Because of this, private capital has suffered an awkward 5 years.　　Lu Commissar thinks, comb private capital This 5 years of investment skeleton, can divide into two stages generally: namely 2005 ~2008 year is the high speed growth period, and 2009 ~2010 year, with the global financial crisis erupts, folk capital falls into a confused period. According to the reporter understand, in the old 36 after the release of the State Council followed by the introduction of 4 supporting documents, Centracco also issued 38 supporting documents, and provinces and cities issued more relevant documents. "However, these supporting documents seem to be dead and do not implement the old 36 document spirit."　　"Changbaoliang, economic chief economist at the National Information Center, said in an interview with the Daily economic news." In Changbaoliang's view, the question of how to spend as much as trillions of yuan of cash earned by private investment has been extremely prominent since 2009. "The embarrassment of private capital is reflected in two aspects: on the one hand, we can not find the real estate projects, only to get into the speculative market; On the other hand, the project countries that want to invest are not allowed to enter, such as high-speed rail, electricity, electric and other projects. "For the private investment of the above embarrassment, Lu County agreed." "Before the Olympic Games, private capital is in a period of rapid growth, the response to these setbacks is slow, but the 2009 global economic downturn, resulting in private capital for the ' glass door ' phenomenon of a huge response, especially in Jiangsu and Zhejiang area of private capital, began to strongly challenge the country into the people retreat."　"Lu Commissar said that the situation of private capital, the most important question is how to transition to a new round of industrial investment, rather than speculative speculation in the way to become hot money in the market, such as Wenzhou capital flow to Dubai property market."　In fact, the private capital in Zhejiang province had once intervened in the basic industries such as Shanxi coal mine, but the policy was ordered to withdraw for many reasons. "Now that you're in, why are you forced to quit so soon?" The problem is too complicated, both institutional barriers led to unreasonable ownership structure, in addition, I am afraid that the short-term profit-making of the people caused by the state is not at ease.　　"Changbaoliang said. Lu Commissar believes that private investment has indeed experienced an embarrassing 5 years, many nationalization projects completely exclude private capital is supporting.　　But to the old 36 also should have an objective evaluation, after all, under the guidance of this policy, private capital has made a certain breakthrough progress, such as the gem, the introduction of the SME board is related. Lu County expected, the next will see a number of infrastructure projects to open to private capital, so as to completely eliminate the worry mentality of private capital. Changbaoliang also said, "such as Beijing Subway line Line 4 and other projects have been handed over to the H-Shares of capital operations management, the next do not rule out that there will be other subway projects will be domestic private capital equity participation." According to the current investment concept, the private capital is easily opposite to the state-owned capital. However, after the introduction of the new 36, both should accelerate infiltration and integration. Lu Commissar believes that under the new 36 guidance, many public investment projects will gradually open, just need time to implement. "Among them, the financial, petroleum and other areas of public investment may be more difficult, but in such as hospital restructuring, sewage treatment, building materials, railway construction and other fields, private capital intervention should be very popular." "Then why is it so hard to see private capital entering these projects?" Lu Commissar believes that the key is the card in the approval link. At present, private investment into the basic industry to take two methods, one is the approval system, the other is the filing system. "No matter which way to audit, once the competent authorities do not reply, the project will not proceed." While the reporter interviewed the enterprise also learned that a large number of private capital into the basic industry in the field of projects are awaiting approval.　　As Lu County said, it is the approval link "jam" resulting in funds can not enter the project as scheduled. "For the new 36, my personal feeling is that it is difficult to execute."　　"May 18, Benxi billion Xin mining company general manager Zhaowenching to reporters that the new 36 mentioned" to encourage private capital to participate in mineral exploration and development, adhere to the mining rights market to open to private capital, but the actual approval is not so simple. " As early as in May 2009, Benxi billion Xin mining investment company announced, will release Benxi Tai Gou iron ore exploration report, and into the mining. Its holding parent company Shenzhen billion Zhongxin mining investment company also announced that will invest 7 billion mining the iron ore, the initial investment of 2 billion yuan. "But we are still applying for mining rights, and the Ministry of Land and Resources has not approved, so we can only postpone mining." "This is a typical example of private investment.　　The question is, will the new 36 help billion to get through this system barrier? According to Zhaowenching's exclusive disclosure to the daily economic news, BenxiIron ore will be mined in the form of "private capital combined with state capital". The specific state-owned capital will come from Benxi Iron and Steel group, about 20% stake, the remaining 80% stake in Shenzhen billion Xin mining investment company Holdings. "On the one hand, the mining rights are still waiting for national approval, on the other hand, the introduction of state-owned capital negotiations are in progress, initially estimated state-owned capital equity 20%."　　Zhaowenching said that at present Benxi billion Zhongxin mining company has 5 directors, if Benxi Iron and steel Group shares will add 4 directors. Industry insiders believe that the Benxi iron ore mining project is a private capital of how to combine with state-owned capital of the case, due to the involvement of private capital will be holding, the project approved the progress is very slow. "We hope that the new 36 will help us solve this institutional barrier," he said.　　"Zhaowenching said.　　Private investment or to welcome "explosive growth" can be imagined, if the Benxi iron ore project received approval, the next 3 years will be at least 1 billion of private capital into the mining sector. "This is only a project, and once other similar projects are released, private investment will usher in an explosive growth."　　"In Zhaowenching's view, these projects have two major demonstrative significance: first, the private capital started a new round of industrial investment, rather than speculation; on the other hand, the new 36 article just released, need a number of substantive projects to eliminate the institutional concerns of private investment. "To be honest, it is not that private capital does not want to start a new round of investment, but that the state does not release some major projects."　　"Changbaoliang in the analysis of why not release," The reason that from the old 36 to the new 36, the country is trying to solve this problem, it takes time. In the specific release path, Changbaoliang that the mining project can take the state-owned capital and private capital combined way, the formation of a joint-stock company, the initial state capital can constitute a large proportion, and then in the process of looking for opportunities to market, gradually diluted state-owned equity. This method is more secure, and it also takes into account the interests of the State and the people's capital. He also said that from the old 36 to the new 36 development trajectory can be seen, the state is planning, there are steps to open the field of basic industry, "but most of the state-owned enterprises will not be willing to give up their own interests, then must come up with supporting policies, the mandatory requirements of some state-owned enterprises to open up "April 23, the central bank issued a report entitled" Analysis of China's macroeconomic situation in the first quarter of 2010, "the first quarter of this year, China's private investment (non-state and state-controlled investment) grew 30.4%, 4.3% higher than the previous two months, creating a cumulative growth since December 2008 record.　　In the same period, China's state-owned and state-controlled investment growth of 21.1%, which means that private investment growth rate than state-owned and state-controlled investment growth of 9.3%, this is the first time since 2009 private investment growth rate exceeded state-owned and state-controlled investment growth. Case analysis has been everywhere begging this new deal to help people begging every reporter Chantri from Shenzhen in the Dunhuang Network founder and CEO Wang View, fundsis always the biggest bottleneck of the development of small and medium-sized enterprises, and the new 36 to encourage private capital into more than 10 areas such as trade and logistics, it is for small and medium-sized enterprises to obtain financial support to provide a policy "Dongfeng." "A small and medium-sized private enterprise, which is opening up a new business model, is not easy to get investors to approve and purse." As a founder of an integrated online trading service website, Wang is deeply aware of the bitterness and helplessness of lack of funds. She told the Daily Economic news reporter that May 2005, in the Dunhuang Network plan on the critical juncture, a good paper on the temporary withdrawal of funds. "I flew to Shenzhen when I saw that the 4-month-old contract was not paid on time, but the other side was determined not to co-operate." When I walked out of that building, the unexpected downpour suddenly fell from the sky, poured me from head to toe, and felt nothing but a blank mind. "After the Dunhuang online line, Wang's team, in addition to focus on the operation of the company, but also have to" begging for alms ", but most of the contacts will not be easy to invest," they all feel that the transaction type of online foreign trade model is too unreliable. " "All this changed after encountering the Chinese fund partner RU Linchi." In the January 2006, at the most difficult time of the Dunhuang net, finally got the first round of investment.　　Then in March 2010, the Dunhuang Network to obtain international well-known venture capital of the third round of financing, the amount of 200 million yuan to refresh the domestic E-commerce Cross-border trading platform financing Records. The announcement of the new 36 article, also for the Dunhuang Network and other small and medium-sized enterprises brought the gospel.　　Wang For example, the new 36 to encourage private capital investment chain operations, E-commerce and other new forms of circulation, which will activate private capital, expand the field of business and logistics, thus leading a group of E-commerce Web site development and rise. Now, after a third round of financing, the Dunhuang network, which has suffered from a lack of capital, has focused on helping small and medium-sized enterprises to finance. Wang said that the Dunhuang network is preparing to work with banks to help companies solve the problem of online financing, online loans, and in the country to help small and medium-sized enterprises to solve the online sales team building and online foreign trade projects.