The people's government of each district and city，The working departments of the Provincial People's Government、Direct institutions:

    In -depth implementation of the Central Committee of the Communist Party of China、The State Council "Guiding Opinions on Deepening the Reform of State -owned Enterprises" spirit，Comprehensive implementation of the Provincial Party Committee、Provincial Government's work deployment on deepening state -owned enterprise reform，Further accelerate the reform of the joint -stock system of the provincial state -owned enterprise，Improve the level of securitization of state -owned assets in our province，Agree with the provincial government，The following opinions are now proposed。

    1. Important
  

    State -owned enterprises are pillars of the national economy，is to promote national modernization、Important forces to protect the common interests of the people，It is an important material basis and political basis for the development of our party and the country's cause。Under the new normal of the economy，State -owned enterprises are facing severe challenges of fierce market competition and transformation and opening up。Accelerate the reform of the joint -stock system of state -owned enterprises，Constantly improving the level of securitization of state -owned assets，It is both an important content and goal of deepening the reform of state -owned enterprises，It is also an important prerequisite and foundation for state -owned assets to focus on management capital，It is more adaptable to market -oriented reform、The inevitable requirements for improving corporate vitality and competitiveness。In recent years，The reform of the state -owned enterprises in our province and the securitization of state -owned assets in the province、The correct leadership of the provincial government has achieved new progress，The proportion of the shareholding system of supervision enterprises of the Provincial SASAC reached 66.11%，State -owned asset securitization rate reaches 18%。but，Compared with developed provinces and cities，There is still a gap in the reform of the joint -stock system of our province，State -owned asset securitization is still at a low level，Main problems: First, the coverage of joint -stock enterprises is not wide enough。The reform of the joint -stock system of some enterprises is slow，Single equity structure，No equity diversification、Effective checks and balance equity structure。Second, some joint -stock enterprises do not operate in accordance with the required specifications，Insufficient governance structure of the legal person，Unclear power and responsibility，No standardized governance system; some companies also have social functions to varying degrees，Added the difficulty of listing。Third, the listed company is not cultivated enough，Insufficient reserve resources。Some companies are not willing to go public，More homogeneous companies inside some large group companies，Existing interbank competition、Related transactions and other questions，Forms substantial listing obstacles。Fourth, the number of listed companies is small，Low securitization rate。Current，Provincial state -owned enterprises have only 14 holdings of listed companies，and the total amount of assets listed is small。Five is that the quality of listed companies is not high，Insufficient financing functions。Most listed companies are not profitable，Insufficient gain stability，Can't make full use of the reinforcement function of listed companies to promote the development of enterprises。So，Accelerate the reform of the stock system of the provincial state -owned enterprise，Promote the securitization of state -owned assets，For quality improvement and efficiency、Transformation open，Further strengthening and making great provinces，It is important to promote the construction of "three Shaanxi" to a higher level。

    2. Overall requirements

    (1) Guidance thought.

    Careful implementation stake sports betting appof stake online sports bettingthe Party Central Committee、State Council and Provincial Party Committee、A series of decision -making deployments on deepening the reform of state -owned enterprises，Adhere to problem -oriented，Enterprise as the main body，Accelerate the reform of the joint -stock system，Improve the modern enterprise system，Promote the listing of enterprises，Improve securitization level，Continuously improving the development quality and benefits of state -owned enterprises，Constantly enhance the vitality of the provincial state -owned economy、Control force、Influence and anti -risk ability。

    (2) Basic principles.

    1、The principle of combining the government guidance with the company's dominance。Under the guidance of the government，Give full play to the leading role of state -owned enterprises in joint -stock reform and asset securitization work，Promoting the strong joint joint。Around the magnitude of the magnitude of the scale and the agglomeration effect，Strengthening the industrial chain collaboration，Encourage and support related enterprises to mergers and acquisitions and acquisitions through marketization，Realize the advantage of complementary collaborative development。

    2、Principles of the Principles of State -owned Capital Expressive Development。Actively introduce various types of social capital to participate in the reform of state -owned enterprises' shareholding system，To amplify the function of state -owned capital、Improve competitiveness as a target，According to the advancement and retreat、The principle of retention and abandonment，Promote the concentration of state -owned capital to important industries and key areas，Gathering high -quality resources to advantageous companies with core competitiveness，Unemployment assets、"Zombie Enterprise" revitalize cleaning and stable exit。

    3、Principles of compliance in accordance with laws。Selection in the project、Plan design、Asset pricing、Public transaction、Performance Evaluation、Exit mechanism, etc.，Strictly abide by relevant national laws and regulations，Improve the reform and listing process of state -owned enterprises，Create a good policy environment，Make sure the project implementation decision -making science、program specification、Public process、Power and responsibility clear。

    4、Principles steadily。Establish an internal promotion working mechanism for enterprises，Strengthen with state -owned assets、Communication connection between securities regulators and intermediary organizations，Stable promotion of joint -stock system reform，Strive to incorporate more enterprises into the asset securitization resource library，According to "a batch of shareholding transformation、A batch of listing counseling，Applying a batch for listing、A batch of credit re -financing "step promotion methods，Strive to mature one、Listing a。

    (3) Development goals.

    By 2020，Provincial state -owned enterprises basically complete joint -stock reform，Diversification of investment entities，Marketization mechanism is more complete，Listed companies become important organization forms for provincial state -owned enterprises。Each regulatory enterprise must have a listed company，Competitive state -owned enterprises must be listed in principle，Public service and functional enterprises operating business assets should create conditions for listing。The total number of listed companies has been increased from the current 14 households to about 30 households，Provincial enterprise asset securitization rate reaches about 40%。

    3, the main task

    (1) Take the opportunity to deepen the state -owned assets of state -owned enterprises，Actively promote the reform of the state -owned enterprise joint -stock system。

    1、Support provincial state -owned enterprises to introduce strategic investors，Realization of stake sports betting appequity diversification。Encourage provincial state -owned enterprises to introduce strategic investors，Enhance the vitality of state -owned enterprises、Creative and market competitiveness。Key selection to choose from technology、Complementation of management or resources、Investors who collaborate and amplify the effect，Including qualified industrial investment institutions and well -known private equity investment institutions at home and abroad，Realization of equity diversification。Reasonably determine the proportion of state -owned equity，State -owned capital can be absolutely controlled、relative holding，You can also participate in the shares，Forms mutual constraints、The equity structure of diversified development。

    2、Increase the reform of the joint -stock system，Promote the establishment of a modern enterprise system Stake Sports Bettingfor state -owned enterprises。State -owned enterprises that are in the fully competitive industry，In principle, the shareholding transformation must be implemented，Actively introduce other state -owned capital or various non -state -owned capital stake online sports bettingto achieve stake sports betting appequity diversification。The first is to actively introduce various social capital to invest in the shares through the fund、Acquiring equity、Subscribe to convertible bonds and other methods，Participate in the reorganization and integration of provincial enterprises' listing assets。Second, the form of initiating the establishment of a joint -stock company，Broadly absorb various types of capital to participate in the reconstruction of joint -stock system。Third is complete for assets、Limited liability company with excellent performance，Adopt the form of overall change to a stock company，Directly push it into the listing procedure。Fourth, according to the requirements of the modern enterprise system，Establish a standardized legal person governance structure in the reform of the joint -stock system，Promote the standardized operation of state -owned enterprises。Five is to clarify the right of state -owned equity，Avoid the controlling shareholder、An actual controller and its related shareholders or actual dominance，Holding the company’s shares existing ownership controversy、related transactions or potential disputes，Obstacles to constitute securitization financing。Six is ​​to allow some state -owned capital to be converted into "preferred shares"，Explore the establishment of a national special management shares system in a few specific fields。

    3、Properly handle the problems left by the history of the company，Create conditions for the reform of the joint -stock system。Properly deal with and solve the problem of historical leftover，It is a prerequisite for corporate joint -stock system transformation and listing。First, to speed up the processing of inefficient assets and micro -profit loss enterprises，Effective peeling of correction assets。The second is to follow the prominent focus、Implementation step by step、From easy to difficult、The principle of acting is separated，Improve relevant policies，Establish a rational sharing mechanism for government and state -owned enterprises，Multi -channel raising funds，Take separation transfer、Reorganization Rodification、Close withdrawal and other methods，Effectively peel off the social functions of state -owned enterprises。Third is to effectively clean up the assets。formed in the restructuring of the provincial enterprises、Not handed over at that time、Property rights remain in the original unit's peeling assets and processed assets，Clearing the right to clear the property rights and regulate it in accordance with the law。Fourth, regulate the holding of internal employees。For the existence of trade unions or employees, it will hold on behalf of、Entrusted shareholding and other issues，Should be properly lifted up the relationship between the agency，Methods through equity transfer，Restore the real equity structure，and transfer or convert it through equity transfer or conversion into a limited company、Partnership companies such as shareholders and other legal person methods，Make the number of shareholders control within the legal scope，Shareholders constituted in line with listing regulations。

    (2) Taking enhanced corporate profitability as the starting point，Fully promote the listing of state -owned enterprises。

    1、Increased reorganization M & A，Strengthen the main business，Cultivate a good listing entity with excellent performance。Clarify the main business of state -owned enterprises，Support the industry similar、Industry related、Enterprises with the same main business，by merging、Drawing、Acquisition and other methods to reorganize，Promote state -owned capital to key industries、Pillar Industry、Strategic emerging industry concentration，Concentrate to superior enterprises。Delipples on the wholly -owned state -owned and wholly -owned non -performing assets of ownership，Received from its superior enterprises，or the transfer of provincial state -owned capital operation institutions approved by the regulatory agency and provincial enterprise management of relevant business assets。For non -state -owned and wholly -owned competitive assets，Perform market -oriented disposal。Optimized asset reorganization transfer procedure，Simplify between provincial -owned state -owned enterprises and provincial state -owned absolute controlling enterprises、Provincial state -owned enterprises are directly、Approval procedures for the transfer of equity or major asset reorganization between indirect all -as -the -investment sub -enterprises。

    2、Innovation listing financing mode，Multi -form increase the securitization rate of state -owned assets。Actively adopt the first public offering、Lende、M & A reorganization and other methods，Realize the main board of the country、Small and Small Board、GEM and overseas capital market listing。1 is to promote the overall restructuring of the listing or core business asset segment of the group company。stake online sports bettingSecond, stake betting appit supports qualified provincial enterprises to go public abroad。Third, do not have the motherboard、Small and Small Board、State -owned enterprises with the listing conditions of GEM，Compared with the requirements of listing，Reasonable setting the scale of the equity，Optimize equity structure，It can be listed on the out -of -available markets such as the national small and medium -sized enterprise shares transfer system (new three boards) in combination with its own actual market，Actively connect with multi -level capital market。Fourth, the company must carefully analyze its own conditions，Strengthen communication with financial institutions，Eliminating requirements can be according to actual needs，By issuing sub -debt、Sustainable debt and asset support securities，Implement asset securitization。

    3、Actively cultivate the reserve resources of listing，Do a good job of service work for the listing of enterprises。Carefully do a good job of reserve enterprises in the listing、Lineup and recommendation work。Compared with listing requirements，Promoting listing of reserve enterprises to regulate the establishment of a stock Co., Ltd.，Reasonable setting the scale of the equity and the equity ratio。Preferably reserve a batch of good growth、Main business prominent、Enterprises with great development potential，Implement dynamic management and classification guidance。Ranking Enterprise Listing Timetable Timetable，Improve the implementation mechanism of the promotion responsibility，Taking the listed work of the enterprise as an important job as a provincial enterprise，Promoting solidly，Make sure to achieve results。

    4、Give full play to the bridge role of the intermediary agency，Provide valid services for the listing of state -owned enterprises。Give full play to the bridge role and professional service functions of the intermediary agency，Timely communication information，Summary experience lesson，Discover and properly solve the problems and obstacles of the listing of state -owned enterprises，Regular communication phase work results。Increase the intensity of the intermediary agency for the operation of state -owned enterprises' capital operation，It is planned to organize plans to conduct counterpart learning exchanges，Reference successful experience of capital operation。

    (3) Actively play the role of the platform of the listed company，Improve the securitization rate of state -owned assets。

    1、Encourage state -owned holding listed companies to continuously do excellence through mergers and acquisitions。Actively encourage the conditional state -owned holding listed companies with conditions through equity、Cash、Debt financing and other methods to implement cross -region、Cross -ownership mergers and acquisitions and reorganizations。First, it supports the provincial state -owned holding listed company to replace it through assets、Introduction of new shareholders and other methods for capital increase and shareholding or mergers and acquisitions，The asset scale and market value of large listed companies。Second, the group company that supports the existing listed platform will gradually inject the group's high -quality assets into the listed company，Make listed companies an important platform for state -owned capital amplification functions and value preservation and value -added。Third is poor asset quality、The main business is not prominent、Local -time reorganization of listed companies with poor profitability，Nance Listed Companies Shell Resources。Fourth is the eligible provincial state -owned state -owned holding listed company，Actively explore the implementation of equity incentives or incentive funds plans，Enhance development vitality。

    2、Support listed state -owned holding enterprises through non -public issuance、Dating shares and other forms of re -financing。Listed state -owned holding enterprises must implement reinstatement，Further form a reasonable capital structure，Give play to the function of the real economy to serve the real economy of the capital market。First, encourage and support listed enterprises to actively use targeted additions、Dating shares、Issuing a variety of retracted financing methods such as convertible bonds，Provide capital support for the development of the enterprise。Second, it supports listed companies' stock exchange absorption and consolidation.，Improve the securitization rate of state -owned assets。

    (4) Accelerate the promotion of securitization of credit assets of state -owned enterprises.

    1、Encourage various bank financial institutions to carry out credit asset securitization business。Creation conditions Promote the securitization of credit assets of state -owned commercial banks，Construction of major infrastructure、Strategic emerging industry、Energy -saving emission reduction、Affordable housing、SME、Agriculture -related fields，Select a batch of credit assets better、Bank risk capital occupation is large、State -owned enterprises Stake Sports Bettingfor state -owned enterprises My stake betting appthat are convenient for structural design，Development is securitized product，Ensure that the securitization project of credit assets is reported and promoted for implementation。Encourage local commercial banks to accelerate the qualifications for securitization of credit assets。Support trust agency、Insurance institutions、Securities Institution、Fund Company、Financial Asset Management Company Participated in Credit Asset Securities Securitization Business。

    2、Actively promote provincial state -owned enterprises to issue credit asset securitization products。Make full use of the stock exchange、Securities Industry Association、Bank bond market and other places，Public issuance of corporate bonds、Convertible bonds、mid -term bill、Short -term financing vouchers。Relying on the basic assets that can generate stable cash flow，Including enterprise receivables、Credit assets、Trust income right、Infrastructure income rights and other property rights，and commercial bills、Bond、Stocks and other price securities，Issuance Asset Support Securities，Story assets for activation，Reduce corporate liabilities。

    Four, guarantee measures

    (1) Strengthen organizational coordination。Establish the responsibility of the governor in charge，Provincial assets、Finance、Land Resources、Industry and Commerce、Banking Supervisor、Securities Supervision、Financial Office and other relevant departments participating in the joint meeting system of state -owned enterprises' joint -stock system and asset securitization work joint meeting，Research and formulation related plans and annual plans，Strictly implement the responsibility of corporate advancement，Timely study and solve various problems encountered in the work。

    (2) Implement the responsible subject。The responsible subject of the shareholding reform of state -owned enterprises and asset securitization is state -owned enterprise，The main leader of the company is the first responsible person。Each company should use it as the focus of the "13th Five -Year Plan" development plan，According to the "shareholding transformation、Enter the listing counseling filing、Report the listing materials、Listed on the market four working nodes，Form a target、There are steps、There is a project、Operating action scheme，Clear annual advancement goals，inverted time progress table，Strictly advance in strict accordance with the plan。Insuble to promote work，To inform criticism，Those who are seriously lagging must be held accountable for the main leaders。

    (3) Establish an assessment system。Incorporate the reform of state -owned enterprises' joint -stock system and asset securitization work into the state -owned asset supervision target task assessment system，Regulatory departments must listen to the situation regularly，Establish a notification、Supervision、Annual assessment and other supervision and assessment mechanisms，Perfect the corporate leadership team of the corporate leadership team with the performance assessment period of the term assessment system，Strict rewards and punishment。

    (4) Increase support。All relevant departments at the provincial level、Hard cooperation，Commonly studied and solved the fundraising project of state -owned enterprises、Land transfer、Asset transfer、Employee resettlement、Industrial and Commercial Registration、Tax、EIA problems and difficulties，Establish a green channel for restructuring and listing of state -owned enterprises，Simplify the process of doing things，Provide preferential policies。

    (5) Perfect the incentive mechanism。Inspired the implementation of equity incentives to the listed companies; the business team of the first publicly issued listed enterprise，Give a certain percentage of a certain percentage of financing，and appropriately increase weights in the annual performance assessment;，Give commendation and reward。

The General Office of the People's Government of Shaanxi Province

June 16, 2016