Where is the national brand road?

Problems have been raised, and when some domestic enterprises are questioned, the reflection on the fundamental problems of introducing foreign capital is deepening. In the "Huiyuan case", the well-known brand financial observer Li Zhiqi has said, "from the Zhu of personal choice, this choice can be used ' success, Torrent Yong Jin ' 8 words summary." As an entrepreneur, he walked from Shandong to Beijing, and then brought business from Beijing to Hong Kong, and has accomplished his mission and achieved his goal. In terms of business, many people start businesses and brands not to make it into a century-old shop. Moreover, the juice beverage market has evolved into a high capital investment market, is a typical capital-intensive industry, so many enterprises are very tight capital chain. So it's enough for a businessman and an entrepreneur. After all, the ' river rules ' is to strength, to success or failure of the hero, at this time sealing knives, as worthy of our respect.　　However, some in the industry believe that when a local enterprise to grow to Huiyuan or small sheep such a stage, its enterprises, brands and founders of the company's responsibilities and obligations have long been no longer simple. At the same time, this and the previous theorists on the issue of foreign investment in several debates, are aimed at the general "foreign capital", but has not been the "industrial capital" and "financial capital" strictly separate.　　In fact, foreign capital includes two kinds of industrial and financial capital, and the foreign acquisitions that people criticized are mainly aimed at "industrial capital". From a general view of foreign investment to the differential treatment, financial capital relative to the safety and effectiveness of industrial is becoming a consensus, but the problem is not so simple.　　For a long time, the main reason for not distinguishing this is that financial capital has been on a massive scale to enter China for many years, relative to industrial capitals. In this regard, the former national Science and Technology Cadre Bureau Director, Science and Technology Research Center researcher Jin Lu loyalty in referring to foreign acquisitions of local brands, stressed: "Financial capital also to add attributive, to ' do not hold ' the financial capital, a holding is over." "Foreign" financial and industrial capital of the subdivision, but also from the "real price" in exchange for. April 1993, Singapore Hong Leong Asia Group, Goldman Sachs, the United States Guotai Fund and other foreign financial capital and Yuchai contracted to form a joint venture company Yuchai shares. A year later, foreign shareholders injected Yuchai Holdings into the New York Stock Exchange for a successful listing. However, before the listing, Hong Leong Asia to the hands of Yuchai shares of assets packaged in New York listed as a threat, put forward in Yuchai International Holdings (with a veto stake) requirements, and have achieved. Since then, the holding of gold shares of Hong Leong and Yuchai launched a long-term game. Both sides in the financial expenditure, new product development, employee benefits, profit distribution, domestic listing, management and development strategy, such as the size of the collision and friction has not stopped, until April 2005, through arduous and complicated process, the two sides around the business control of the right to expand a thrilling "scramble",　　China forced Hong Leong to give up the gold shares conditionally. Wang, Chairman of the Board of Directors of YuchaiAt a meeting, when talking about cooperation with financial capital, said: "We have experienced shareholders, ignorance in the industry common sense to an unbelievable degree, the two sides of the idea of conflict and collision is intense." If enterprises are confronted with such financial capital, it is absolutely impossible to control the power of sustainable development. Otherwise in the face of some risk, you may be eaten, or you are played. "In an interview with the Daily Economic news reporter, an unnamed senior VCs stressed that their own companies and the holding class of financial capital, such as mergers and acquisitions funds," merger funds need to hold, there are many ways to make money, such as the purchase of a business after the spin-off sold And the profit way of venture capital is to exit after sending the enterprise, there is no need to control the enterprise and the industry, the enterprise listed after the stock right is very dispersed, there is no control problem. "We are the real use of international capital to help domestic enterprises to expand the international and domestic market share of investors, support the enterprise management to make the enterprise bigger, only the enterprise bigger, we can exit the profit." "We are in line with the interests of the business," said the person. However, the field of venture capital has its limitations. "From the new technology industry, the effect of venture capital can not be compared to those who master technology and venture capital, will lead to the new technology industry fission; but because venture capital pursues high growth, many industry companies are not interested."　　"Alcatel (China) company CEO Liujiangnan that. So, how to solve the bottleneck problem of the development of national brand? A senior venture participant told reporters that the best way to solve the fundamental problem was to "liberalise private finance and let private capital develop." "The above people said that at present, foreign capital in China is more than the treatment of nationals, while the private sector is less than the treatment of the national, resulting in a large number of foreign investment and private capital is suppressed situation." "To create a better financial environment for private enterprises, from their own strong, we can solve the ' internal and local problems '." ”