The Ministry of Cooperation will cooperate to force China to manufacture 2025 Industry 4.0 to be equipped with capital wings
On September 26, the Ministry of Industry and Information Technology and the China Securities Regulatory Commission jointly held a symposium, and the two parties signed the "China Securities Regulatory Commission Strategic Cooperation Agreement" of the Ministry of Industry and Information Technology.
"I think this cooperation is to detail the general contents of the "Made in China 2025" document." A person from the investment banking department of CICC told reporters on September 27.
The reporter was informed that the principal responsible persons of the two parties were present at the scene. Minister Miao Xie and Deputy Minister Liu Lihua of the Ministry of Industry and Information Technology, and Chairman Liu Shiyu, Vice Chairman Jiang Yang, and Assistant Chairman Zhang Shenfeng of the China Securities Regulatory Commission, as well as the responsible officials of relevant departments of the two companies attended the meeting. Meeting.
The two sides emphasized that manufacturing is the foundation of the real economy and the main battlefield for structural reforms on the supply side; serving the real economy is the foundation of the founding of the capital market, playing a good role in the capital market, building a service manufacturing powerhouse, and building an internet powerhouse, to promote finance It is of great significance to vigorously rejuvenate the real economy by interacting with industry and developing in a coordinated manner.
The two ministries joined forces to become the focus of news in today’s capital market. Affected by this, today's capital markets are moving. As of the close, all sectors including Industry 4.0 have seen some gains, with the Industry 4.0 index rising 1.03%. Of the 131 concept stocks, 101 shares rose today, accounting for 77.1%.
For the cooperation of the two ministries and commissions, Professor Dong Dengxin, director of the Wuhan University of Finance and Securities Research Institute, said: “It is very worthwhile to look forward to signing a strategic cooperation agreement. One of the major tasks of the Ministry of Industry and Information Technology is to focus on manufacturing, and on the other It is to grasp the development of small and micro enterprises, and the capital market is the regulatory scope of the Securities Regulatory Commission, the cooperation of the two ministries and commissions is the connection between the real economy and the capital market, which is very attractive.In addition, the Ministry of Industry and Information Technology is also in charge of small, medium and micro enterprises, so it is innovative From the angle of view, the capital market has also made efforts in this regard and given support to some high-tech and high-growth enterprises."
It is worth noting that this strategic cooperation is also one of the important measures to support China's manufacturing of “2025”.
“At present, we are still in the early stage of the Industrial 4.0 era, which is the early stage of the Big Bang of Industrial 4.0 technology application. Although there is a large amount of financial capital continuously involved, the production capital is still relatively lacking, and the application mode of technology has not been well confirmed. Unlike innovation and entrepreneurship in the field of consumer Internet, the capital needed for innovation in the industrial manufacturing field is obviously very large, with hundreds of millions or even billions of inputs being invested. This is not something ordinary VCs can afford. It needs to build a new one. The capital system, and the joint efforts of the two ministries, I think is to provide a clear channel from the capital system,” said an economist at a university in Shanghai who declined to be named.
The reporter noticed that in the article “Made in China 2025” issued by the State Council, it also proposed to use the capital market to promote the related work.
Including a sound multi-level capital market, promote the standardized development of the regional equity market, support qualified manufacturing companies in the domestic and overseas listing financing, issuing various types of debt financing tools. At the same time, the document also requires that venture capital investment and private equity investment be supported to support the innovation and development of manufacturing enterprises. Encourage the implementation of eligible manufacturing loans and lease assets to carry out the trial of securitization.
21st Century Business Herald reporter learned that at the meeting, the CSRC and the Ministry of Industry and Information Technology would further improve the work coordination mechanism, strengthen information exchange and sharing, and strengthen business matchmaking to ensure that all cooperation contents take root. What is the content of cooperation and whether there will be a corresponding policy is the issue that the market is most concerned about.
Dong Dengxin pointed out: "The policy may mainly center on advanced manufacturing industries. For example, the China Securities Regulatory Commission has a policy tilt during the IPO review. Under the same conditions, these advanced manufacturing industries can give priority to IPO opportunities. This is effective, and this is also the capital market. One initiative to support advanced manufacturing is important."
A person from the investment banking department of a large securities firm in Beijing told reporters on September 27: “Actually, it is not necessary to help at this stage of the IPO. You can try some industrial or industrial policy combinations in the new 3rd board market or 4th board market. The more feasible policy can refer to the negative list of listings launched by the previous share transfer system. The listed standards for innovative and non-innovative companies are different. The main basis for innovative companies is enterprises in the emerging strategic industries."
At the same time, some market participants also mentioned that the capital market's poverty alleviation strategy conducted by the China Securities Regulatory Commission also has certain reference significance. The enterprises covered in the “Made in China 2025” document can accelerate the review progress without reducing the auditing standards and reducing the auditing link.
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As an important backbone and backbone of the national economy, the news about the reorganization and integration of central enterprises has always attracted much attention. The executive meeting of the State Council held on September 27 proposed that, on the basis of voluntary and consensus-building by enterprises, in accordance with the principle of “Mature one household and promote one household”, we should steadily promote state-owned enterprises in the fields of equipment manufacturing, coal, electricity, communications, and chemical engineering. Reorganize and integrate to improve the efficiency of resource allocation and enhance competitiveness.
Wang Jun, the chief economist of Zhongyuan Bank, said in an interview with the “Securities Daily” reporter yesterday that the above-mentioned five major areas were the focus of the next phase of central government restructuring and integration, mainly because of the existing central enterprises and world-class multinational companies in these fields. There are still relatively large gaps and no obvious competitive advantages. The outstanding performances are as follows: First, the degree of internationalization is low, and the ability to integrate resources on a global scale is not strong; second, weak technical innovation capabilities and lack of international discourse rights. In the international market, the pricing power; Third, in the international division of labor and the global industrial chain at the low end, corporate influence and global industry status yet to be improved; Fourth, the serious lack of internationally renowned brands; Fifth, the lower level of business management, lack of internal vitality , The overall competitiveness is weak.
“From the perspective of management, the fundamental purpose of promoting the restructuring of central enterprises is to be able to become bigger and stronger and to optimize state-owned enterprises, and constantly enhance the vitality, control, influence, and risk resistance of the state-owned economy so that it can actively adapt to and lead the economy. To develop the new normal, from the point of view of the enterprise itself, we hope to cultivate and create multinational enterprise groups that are in line with international rules and operate effectively through strong and weak alliances, and cultivate and build a national and global perspective. Overseas development, transnational operations, multinational enterprise groups with international competitiveness and brand influence; nurturing and building multinational enterprise groups with leading technologies, well-known brands, and leading industrial upgrading.” Wang Jun believes.
"Securities Daily" reporter learned from the SASAC that since the party's 18th National Congress, the success of the 18 groups of 34 companies has been completed, the results can be described as very significant. In 2016, the total profit of the restructured enterprises increased by more than 40% from 2012. In terms of personnel streamlining and corporate management costs, as of August 2017, the central government reduced a total of 6,395 legal entities, reduced labor costs by 27.4 billion yuan in total, and reduced management expenses by 10.6 billion yuan, which also improved operating efficiency while reducing cost and expenses. .
At the same time, China Aviation Development Corporation was newly established. In addition, three telecommunications companies set up the Tower Company, China Aerospace Materials and the three largest airlines to establish a platform for safeguarding and sharing aviation materials. The relevant coal companies have established a coal enterprise asset management platform for central enterprises, which has effectively promoted the concentration of resources to competitive enterprises and concentration of major businesses.
According to Bai Yingzi, Director of the SASAC Reform Bureau, the next step will be to continue to concentrate resources on the main business enterprises and advantageous enterprises, strengthen and refine the main businesses of the central enterprises, and cultivate a group of core competitiveness, high resource allocation efficiency, and industrial advantages through restructuring. Obvious leading companies play a key role in revitalizing the real economy.
In addition, the efficiency of the allocation of state-owned assets after reorganization has also increased significantly. It is understood that since the establishment of the Tower Company, the sharing level of new steel towers has been increased from 20% to 70%. In the past two years, it has reduced the construction of 501,000 duplicate towers, saved construction investment of 88 billion yuan, and saved 23,000 acres of land. China COSCO Shipping has comprehensively promoted the coordination of container business and completed the integration of domestic networks, overseas networks, organizations, operating systems, and air routes. In 2016, it achieved an increase of approximately 4.7 billion yuan.
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On September 20, at the 2017 China (Beijing) International Construction Machinery Exhibition, Caterpillar's global debut of the new generation of hydraulic excavators attracted the attention of many viewers. On the same day, Caterpillar introduced six smart products and solutions at one go, which became a major highlight of the show.
This exhibition is the first international large-scale exhibition since the global construction machinery industry recovered. In addition to Caterpillar, more than 1,000 R&D, manufacturing and service organizations from the construction machinery industry including Sany Group, Zoomlion, and XCMG exhibited. Behind the booming popularity is the recovery of the construction machinery industry after a five-year “winter period”.
According to data from the China Construction Machinery Industry Association, in August this year, major excavator manufacturers sold about 8,700 excavators of various types, and the growth rate remained at 100% for five consecutive months.
“Despite the depth of adjustments in the past five years, China remains the world’s most important market for construction machinery and remains the largest market for global development.” Qi Jun, president of the China Construction Machinery Industry Association, said at the conference that the world’s mainstream construction machinery is currently Manufacturers have already started business in China, and many have also achieved in-depth localization. Chinese companies have also expanded their product reach from traditional emerging markets to European and American developed countries and regions.
According to Chen Qihua, Caterpillar’s global vice president and chairman of Caterpillar (China) Investment Company, apart from the cyclical factors, the main factors driving the growth of the construction machinery industry are the national infrastructure construction projects, real estate development, and urbanization. The construction of “One Belt and One Road” and the acceleration of PPP projects have been driven. However, Chen Qihua also said that the current growth characteristics of the market are very different from those of five years ago. The construction machinery industry has entered a new era characterized by smart machines and intelligent services.
This judgment was approved by Wang Min, chairman of XCMG. He said that in the past five years, the construction machinery industry in China has not taken a step, but has accelerated its layout in the Internet of Things, industrial clouds and smart manufacturing. At this exhibition, XCMG's new products are full of newly developed intelligent products.
How long can the growth momentum of the construction machinery market be maintained? Chen Qihua said that from next year, the construction machinery industry is expected to enter a sustained and stable stage. In the next two to three years, the construction machinery industry will maintain a relatively stable and stable growth.
This view also represents the views of many exhibitors. In particular, as China’s economy has stabilized and become more favorable, the confidence of the majority of companies has further increased.
At present, the field of construction machinery in China is a fully open and free-competing market, and the speed of the survival of the fittest in the industry has accelerated. A person in charge of a construction machinery company in Fujian indicated that with the continuous improvement of national environmental protection requirements, industry emission standards will be put on the agenda before and after 2019.