finance and state-owned enterprises: a complex integration

2024-09-16

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in recent years, the "industry-finance integration" has shown great potential in the practice of central enterprises. some central enterprises have obtained banking, securities, trust, futures and other financial licenses through equity transfer, mergers and acquisitions, equity investment and other means, expanding their own industrial chain service capabilities. at the same time, the improvement of capital operation efficiency and financing costs has also brought new impetus to the development of enterprises.

however, as time goes by, the development of industrial-financial integration has also faced some problems. for example, in the process of industrial-financial integration of some central enterprises, there is a lack of effective interaction and coordination between industry and finance, resulting in the financial business not being able to serve the industrial development well; the asset-liability ratio of the financial business of some central enterprises is high, exceeding the appropriate level, increasing the financial risk of the enterprises.

the introduction of the "financial restriction order" will urge central enterprises to make adjustments and integrate industry and finance in a more stable way. both equity participation and controlling stakes have their own advantages and challenges. the advantage of controlling stakes is that enterprises gain greater voice and decision-making power, but it also brings higher risks, especially when multiple industries and financial businesses are integrated. equity participation faces greater problems in profit distribution and decision-making power, and needs to constantly explore new cooperation models.

when handling financial assets, central enterprises should maintain transparency and a responsible attitude to ensure that all operations are conducive to maximizing corporate value and minimizing risks. at the same time, they should retain core financial assets, optimize asset structure, and improve asset efficiency.

ultimately, the integration of industry and finance of central enterprises needs to be carried out more cautiously and steadily in order to promote the sustainable development of enterprises and their social contribution.