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According to the announcement of China Finance Minister (till July 31, 2009), had the duty to society to guarantee the transfer to be listed stock the state-owned shareholder name list as well as the transfer fold of yarn public announcement has finished.

Money Wise

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Reporter from the authoritative department found the other day; already had the many enterprise state-owned shareholders to raise the objection to the public announcement content, the place state-owned shareholder’s objection are many.

The following stage, society will guarantee door to door to will propose that the objection company will carry on the checking. On June 19, four ministries and commissions have announced 131 To be listed 826 state-owned shareholder‘s name lists which needs to fulfill the transfer duty, also pointed out that the state-owned shareholder to transfers the announcement like to have the objection, should, in the announcement issued that in the latter 30 working days feedback and opinion.

According to the authoritative department’s insiders said that in after public announcement one week, a central enterprise has not raised the objection. Because Yang business property right is quite defined, moreover the community responsibility is paid attention to the human. Up to yesterday, also only then the minority several central enterprises proposed the different opinions to the transfer fold of yarn, but does not have one to transfer the duty to propose the different opinions.

On June 25, the strength gathers the stock (quotation stock) to issue the announcement saying that to serves under somebody’s banner the subsidiary company to hold develops the nation electron (quotation stock) the stock to regard as state-owned shares processing to have the objection. This is the first to be listed guarantees the fund to the state-owned shares transfer society to raise the objection.

He said that the next stage, society will guarantee will act according to all levels of national capital committee the material, door to door to proposed that the objection company will carry on the checking, will confirm the name list and the transfer fold of yarn. According to the preliminary statistics, needs to transfer the state-owned stock which holds approximately 8,394,000,000, according to June 19 the closing price computation, the market value approximately is 83,550,000,000 Yuan.

Along with more State-owned business going on the market, will also have the stock to change over to the nation society unceasingly to guarantee the fund, society will guarantee the fund the scale also unceasingly to expand. But “Implementation Means” the 14th stipulation, after society guarantees the foundation extension holds the state-owned shares, enjoys the extension to hold the stock usufruct and the right of disposal, does not intervene to be listed daily management and operation.

The play brocade article believed that along with China Stock market entire circulation’s realization, to be listed stockholder’s rights’ dispersion degree becomes higher. Society guarantees the fund, even if only has 10% stocks, also possibly becomes to be listed biggest shareholder. But takes the biggest shareholder, if does not intervene to be listed daily management and operation, also how the guarantee society does guarantee the fund.

Especially regarding state-owned shares proportion originally not big to be listed, if society guarantees the fund not to participate in the management, possibly is unable to guarantee that society guarantees the fund the benefit not to invade by the non-state-owned shareholder. Recent years although the major stockholder pulled out the spatial to be listed phenomenon to have the reduction, but has not ceased.

If has this kind of situation, not only violates “Implementation Means” the original intention – enrichment society guarantees the fund, will create the state asset the outflow. Regarding this, Chinese Social Science Institute Economics institute Microeconomics Laboratory assistant director the play brocade article believed that in the transfer society guarantees in the question, the place State-owned business’s manner and the Local authority has the close relation.

At present, our country has two set of social security system: A set is the nation society guarantees the fund council, it is a preparation system, the fund raises by the Central authorities unified agreement; Another set is regional scattered society guarantees the bureau, the fund raises voluntarily by the Local authority.

The expert believed that present’s question is, the state-owned shares transfer society guaranteed, lets the place state asset delimit the central committee. Faced with the existing retirement and the unemployed people living cost allowance and so on realistic question, the Local authority needs certainly “to be calculating”. Four ministries and commissions once were clear in June 19, after the public announcement time had ended, already to be listed state-owned shareholder who freezes the stock, has not raised the objection to the supervision organization, will settle accounts the Limited liability company by the Chinese negotiable securities registration to implement the transfer.

This means that the state-owned shares transfer society guarantees the fund, soon starts to transfer the procedure. Also means that the nation society will guarantee will become A market biggest institutional investor. According to the preliminary statistics, needs to transfer the state-owned stock which holds approximately 8,394,000,000, according to June 19 the closing price computation, the market value approximately is 83,550,000,000 Yuan. Along with more State-owned business going on the market, will also have the stock to change over to the nation society unceasingly to guarantee the fund, society will guarantee the fund the scale also unceasingly to expand.

But “Implementation Means” the 14th stipulation, after society guarantees the foundation extension holds the state-owned shares, enjoys the extension to hold the stock usufruct and the right of disposal, does not intervene to be listed daily management and operation.

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