State-owned capital investment companies mainly aim at serving the national strategy, optimizing the layout of state-owned capital and enhancing industrial competitiveness. In important industries and key areas related to national security and the lifeline of the national economy, we will play the role of investment guidance and structural adjustment, cultivate core competitiveness and innovation ability, and enhance the control and influence of state-owned capital through industrial adjustment, industrial integration, industrial cultivation and financing to promote production.
State-owned capital operation companies mainly aim at improving the efficiency and return of state-owned capital operation, and revitalize the stock of state-owned assets through equity operation, fund investment, incubation, value management, orderly advance and retreat, etc. , guide and promote the development of social capital, and realize the rational flow and preservation and appreciation of state-owned capital.
Second, the difference between operating modes.
1. Operation mode of state-owned capital investment companies: "financing, investment, merger and acquisition, bonds"
Finance: financing and raising funds through direct or indirect means mainly rely on funds and the securitization income of the last round of industrial integration.
Investment: according to industrial planning, strategic investment is the main investment, supplemented by financial investment, which plays the role of investment guidance and structural adjustment. From the perspective of investment methods, direct investment is the mainstay, supplemented by equity investment funds and raised funds.
Combination: through asset integration, internal and external integration and other ways to integrate and strengthen the industry, affect the industrial ecology and promote industrial transformation and upgrading. Specific ways include integrating state-owned assets, acquiring market-oriented industrial resources, and cooperating with high-quality industrial resource providers and operators.
Securities: Strengthen the operation of industrial securitization and capital operation.
2. The operational focus of state-owned capital investment companies.
State-owned capital investment companies follow the logic of industrial chain development, carry out business layout, form industrial bases, gradually build ecological chains and build investment ecological circles.
Maintain control and influence over the state-owned economy through capital investment rather than administrative power, and focus on "addition" in the industrial field.
3. Operation mode of state-owned capital operation companies: "financing, investment, merger and acquisition, securities"
Finance: Raise funds by setting up a large-scale and systematic fund department, such as the fund department of China Credit Union Chengtong. .
Investment: develop specialized capital operation featuring funds, revitalize the stock, focus on financial investment, supplemented by strategic investment, and attach importance to handling the relationship between "less investment and less investment, follow investment and lead investment, debt investment and stock investment". Improve the quality of investment. From the perspective of investment methods, equity investment funds and parent-child funds are the main ones, supplemented by direct investment. .
Management: To correct the tendency of "emphasizing investment, neglecting management and not giving up", it is also necessary to establish the concept of "three-point investment and seven-point management" and strengthen post-investment value management.
Securities: strengthen the operation of asset securitization and withdraw in an orderly manner. Realize the rational flow of state-owned capital and obtain the return on market-oriented investment.
4. Key points of state-owned capital operation companies.
Give play to the role of market mechanism, promote the capital transformation of state-owned assets from "enterprise" in physical form to value form, promote the flow of state-owned capital in the capital market, make the layout of state-owned economy flexible and orderly, and focus on "subtraction".