State-owned securities on the stock market is to force

 State-owned securities on the stock market is to force
(Wang Kai)
when the A shares after the end of the split share structure reform, the major shareholder's stock gained circulation in the market have a greater voice and pricing . If the A shares before a capital Zuozhuang times, then the split share structure reform, the State-owned high integration trend seems increasingly clear.
securitization of state assets to start for the stock market is a big plus, while its smooth development itself needs to have a bull market basis, therefore, can be expected to accelerate the state-owned assets in the securitization of during the bull market will gradually shape pattern.
one is the general trend of securitization of state assets
to promote the state-owned Shanghai Municipal Government process of asset securitization, has developed this 30% capital securities of the target, and this data only for the end of 2009 25%.
Shanghai State-owned securities, may also be the national state-owned assets only a microcosm of the securitization. in accordance with the planning of the SASAC, a lot of restructuring and consolidation of state assets through the securities market ultimately are state-owned asset securitization the general trend. according to current planning perspective, the integration of the central objectives of state-owned assets of enterprises in the initial completion of the current local state-owned enterprises may be integrated into the peak period.
vigorously promote the state-owned assets in the securities at the same time, it is noteworthy. In the future of the process of urbanization, local financing platform will serve as an important financing role in the securitization of assets through the stock market, enhance the equity value, should be more feasible, especially in 2011 reduced the size of credit under the circumstances. Therefore the central local financing platform for the clean-up work will speed up.
II will be increasingly strong and forward to
from the local government perspective, we believe that the financial pressure due to local Forced local government wishes to promote the integration of state-owned assets is also increasingly strong. now facing the greatest pressure the local government at the local financing platform specifications and finishing by the local context of financial constraints, the local financing platform for the planning, a large number of local municipal projects will face the embarrassment of famished. And because of the state real estate industry the regulation of land sales by further financial pressure, local governments will inevitably take into account the other way financially, and integration of state-owned assets is part of the problem of effective mitigation.
First of all, because of the local majority state-owned enterprises to the local revenue Government-owned, local state-owned assets generated through the integration and value-added benefits to the local benefits actually most of all State-owned enterprises. and in this context, the local government to promote local enterprises must integrate acquisitions greatly enhance the power.
followed , for the local state-owned enterprises, determine its success or failure of integration is exactly the pressure of the will of the local government. From past experience, the central policy-driven in the previous local state-owned enterprises regional integration process, the progress was not satisfactory, and its root causes the barrier is due to local interests.
three state-owned assets securitization, would be to force state-owned assets
the successful realization of securities, but also stock markets to cooperate and presided over the most direct argument is the need for a bull market pattern.
According to statistics, the reform of state-owned assets in Shanghai, after the curtain went up, A shares of the capital market, institutional investors have gradually important potential related companies.
the future, integration of state-owned assets to the successful completion of the relevant objectives, while vigorously in advance, will certainly have a promising market conditions. even without the support of the real economy, we do not rule out the possibility of artificial bull market, an important reason for this is State-owned bull market integration based on need.