Under the intensive supervision of the central government, the capacity went to the middle school entrance examination. The reporter learned that the joint supervision team formed by many central ministries and commissions has been divided into ten roads to supervise and inspect the elimination of backward production capacity in various places. After the end, the report will be led to report to the State Council. At the same time, the iron and steel industry to resolve excess capacity, to prevent the "ground strip steel" resurgence special spot check also through eight groups in 21 provinces (autonomous regions, municipalities).
Judging from the current situation, there is a great deal of capacity in various places, and some places have exceeded their tasks ahead of schedule. However, the debt problem of coal enterprises still exists, and the debt-to-equity swap is difficult, and it faces the same problem. In terms of promoting the transformation and upgrading of mergers and acquisitions, various local governments have formulated relevant policies and are actively promoting them.
De-capacity
Wang Chao’s busy work is coming to an end. Over the past three weeks, his joint inspection team has traveled to Hubei, Chongqing, Hunan and other places to listen to reports, access relevant documents, field visits and seminars. To understand the outflow of outdated production capacity in industries such as coal, cement and flat glass.
There are other nine-way people who shoulder the same mission. With the approval of the State Council, the Ministry of Industry and Information Technology, the National Energy Administration, the National Development and Reform Commission, the Ministry of Ecology and Environment, the Emergency Management Department, and the State Administration of the State Market have formed 10 inspection teams, which will be phased out in 2017 from May 21 to June 15. Supervision and inspection of the work of backward production capacity and the deployment of work in 2018.
"Last year, the Ministry of Industry and Information Technology and other 16 ministries and commissions jointly issued the "Guiding Opinions on Promoting the Withdrawal of Outdated Production Capacity by Using Comprehensive Standards in Accordance with Laws and Regulations", this time mainly to check the implementation situation. In several provinces and cities inspected, the intensity of coal de-capacity is still Very big, the industry is basically stable." Wang Chao told reporters.
It is understood that Chongqing has closed 354 coal mines in two years, with a capacity of 23.48 million tons, and completed the three-year target of Chongqing's coal de-capacity in the country one year ahead of schedule. In 2018, Shanxi withdrew 22.4 million tons of coal production capacity, requiring provincial coal enterprises to take the lead in reducing production and de-capacity. Shandong recently requested to include 10 coal mines in the 2018 annual target for resolving the excess capacity of coal to ensure the completion of the shutdown task at the end of September.
In addition to coal, it is also the highlight of this inspection. The inter-ministerial joint meeting is scheduled to be divided into 8 components from May 22 to June 15 to 21 provinces including Tianjin, Hebei, Shanxi, Inner Mongolia and Liaoning. , city), carry out the industry to resolve excess capacity, prevent the "ground strip steel" re-ignition special spot checks, and summary report results before June 22.
Relevant persons who participated in the spot check said that on the one hand, the spot check was to supervise the steel enterprises to resolve the backward production capacity, and it was strictly forbidden to increase and increase. On the other hand, it is a thorough investigation of the areas and enterprises mentioned in the “counting list†in the “negative listâ€. For example, look back at the banned “strip steel†production enterprises to see if there is any resurgence, relocation, and “stopping the customsâ€.
It is worth noting that the above-mentioned persons also revealed that in the settlement of “strip steelâ€, due to the inter-ministerial joint meeting to further clarify the responsibility system at the provincial level, the district and county initial inspection, municipal inspection, and state supervision have been formed. Check the layer supervision mode.
The debt problem still exists
It is worth noting that in the process of de-capacity, corporate debt and other issues still exist.
According to the data obtained by the reporter, although the coal debt ratio has declined slightly this year, the asset-liability ratio of coal mining and washing industry in June is still 66.4%, totaling about 3.58 trillion yuan, and the asset-liability ratio of some enterprises is approaching 80%. Sichuan Coal Industry Group Co., Ltd., China Coal Group Shanxi Huasheng Energy Co., Ltd., and Taiyuan Coal Gasification (Group) Co., Ltd. are listed as enterprises in which bond investors need to pay close attention to risks. Among them, Sichuan Coal Group has been three times this year. Default.
"The current debt disposal progress is slow. Some joint-stock coal mines are faced with the problem of diversified debts and difficult disposal due to the diversified equity and complicated debt structure. Moreover, there are also problems in the process of debt-to-equity swaps. A brokerage analyst told reporters.
The industry is also facing the same problem. Prior to this, Xu Lejiang, vice chairman of the National Federation of Industry and Commerce, pointed out that it is necessary to closely follow the central government's prevention of financial risk deployment, actively reduce the leverage ratio, and reduce the debt ratio of steel enterprises.
At the "Industry Financial Work Symposium" held by the China Iron and Steel Association recently, Liu Zhenjiang, secretary general of the China Industrial Association, said that in the past year, the company has actively taken leverage and the industry's average asset-liability ratio has dropped by 2.59 percentage points year-on-year, but it is still at a relatively high level. Up to 67.23%. In 2017, the industry only had interest payments of up to 84.282 billion yuan.
"Steel enterprise debt-to-equity swaps still face difficulties such as real-stock debts." Liu Zhenjiang believes that the level of debt disposal in the process of de-capacity should be increased, and further coordination and implementation of debt-to-equity swap plans with banking institutions should be implemented to promote cost reduction and efficiency enhancement. With an effort of 3 to 5 years, the industry's average asset-liability ratio fell below 60%.
Promote industry mergers and acquisitions
At the beginning of this year, the National Development and Reform Commission and the 12 ministries and commissions issued the "Opinions on Further Promoting the Transformation and Upgrading of Coal Enterprises' Mergers and Reorganizations", requiring that "through mergers and acquisitions, the average scale of coal enterprises will be significantly expanded, and the integration of upstream and downstream industries will be significantly improved. By the end of 2020. We will strive to form a number of large-scale coal enterprise groups with a strong international competitiveness and develop and cultivate a group of modern coal enterprise groups.
At present, many provinces are actively promoting mergers and acquisitions in the coal industry. In response to problems of scattered resources and redundant construction, on May 25, Inner Mongolia Yijinhuoluoqi integrated 12 flag-related coal-related state-owned enterprises to form Inner Mongolia Shengyuan Energy Group Co., Ltd. Shanxi also indicated that it will continue to increase coal mine mergers and acquisitions. In February this year, it was controlled by Jiangsu Guoxin Group. Central enterprises, Shanxi coal enterprises and electric enterprises jointly established Sujin Energy Company. The establishment of Sujin Energy Company is the coal-fired power plant in Shanxi Province. The first step in the equity transfer restructuring.
As the industry situation changes, companies are also welcoming large-scale restructuring plans. Prior to the State Council issued the "Guiding Opinions on Promoting Industrial Mergers and Reorganizations to Dispose of Zombie Enterprises", it is clear that by 2025, 60%-70% of China's industry production will be concentrated in about 10 large groups, including 80 million tons. The group of 3 to 4, 40 million tons of groups from 6 to 8 and some specialized groups.
Wang Lianzhong, executive deputy secretary-general of the All-China Metallurgical Chamber of Commerce, said that at present, private steel enterprises have begun to restructure and have made significant progress, accounting for more than one-third of private enterprises, and there are obvious signs of mergers and acquisitions across regions and sub-owners.
Wang Lianzhong introduced that, as planned by Hebei, with the support of Qian'an, Fengnan and Wu'an local groups, Hebei plans to form three large-scale private-owned groups with regional market leading capabilities; Shanxi Province also plans to integrate through mergers and acquisitions from 27 enterprises. Dropped to 10 homes.
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