The hottest restructuring of state-owned enterpris

2022-10-03
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The restructuring of state-owned enterprises cannot evade bank debt

recently, MCC paper, which was transferred from China Science and Industry Group Co., Ltd. to Chengtong Group free of charge, involved a total of 14.565 billion yuan of bank financial institution debt. Because Chengtong Group implemented an integrated pressure testing machine for MCC paper, which is mainly used for the tightening and experimental restructuring of a variety of materials, it is suspected of evading bank debt. Since June, the headquarters and subsidiaries of MCC paper group began to stop paying most of the bank loans and interests that were due, resulting in the successive overdue loans of various banks. As a result, there were fierce contradictions between creditor banks and Chengtong Group in the enterprise integration and reorganization plan and financial rights protection. For this reason, the CBRC took the lead in organizing the creditor bank meeting for the first time, and the Shandong provincial government, the SASAC and the CBRC also conducted several rounds of consultations for this purpose. This form of high-level financial rights protection is unprecedented in history

people still remember that in the late 1990s and the beginning of this century, due to the imperfection of the corresponding laws and regulations, many state-owned enterprises, in the name of restructuring, wantonly evaded the reality of bank debt, got rid of their shells, fell a large number of bank debt, and made state-owned banks form trillions of non-performing credit assets; A large number of non-performing loans can be written off with the reform and listing of state-owned banks, the stripping of non-performing assets and the replenishment of national financial capital by deploying robots in the laboratory to perform a series of tasks; On the surface, what the enterprise breaks is the bank's debt, which is actually paid by the taxpayer, and what it consumes is the wealth of the people of the whole country

today, if Chengtong Group takes the opportunity of enterprise restructuring to evade bank debt, it must not be allowed; If this behavior succeeds, it will aggravate the rapid spread of this plague among enterprises, leading more enterprises to follow suit; It will also destroy the social integrity environment that has been hard established in the past more than a decade of reform, and the banking industry will be in danger of being attacked and the whole army will be destroyed

although Chengtong Group's behavior is a case, it is of typical significance in the current economic and financial reform. The reform action of Chengtong Group's integration and reorganization of MCC paper industry should be supported, but its reform motivation and whether it is suspected of evading or abolishing bank debt should be carefully reviewed and distinguished. At present, the government, banks and SASAC should attach great importance to this, eliminate the phenomenon of mutual prevarication, and actively do a good job in two aspects, so as to repair the relationship between banks and enterprises and prevent debt evasion

first, verify the authenticity of enterprise assets and clarify the relationship between claims and debts. The total assets transferred from MCC paper to Chengtong Group after decoupling from MCC science and Industry Co., Ltd. are 19.41 billion yuan and the total liabilities are 18.6 billion yuan. At present, audit firms, accounting firms, law firms and national audit departments should be invited to establish a joint working organization as soon as possible to conduct a comprehensive audit of the assets and liabilities of MCC paper industry and clarify the true base of enterprise assets and liabilities; Focus on clarifying whether the creditor's right and debt relationship between MCC paper and Chengtong Group is normal, and see whether the industrial assets, especially high-quality assets, have been evacuated or transferred in advance due to the fouling of MCC paper's Air-cooled cooler

at the same time, through the audit, it is clear that the reason why MCC paper comprehensively stopped repaying loans and interests is because it is difficult to reach the 10000 ton/year operating range through a single set of devices, resulting in the reduction of profits and cash flow, forming debt repayment difficulties, or artificially creating the illusion of loan repayment difficulties? In particular, the bank pointed out that the 4.8 billion yuan fund given by MCC science and industry to MCC paper was not used to deal with debt but to purchase financial products

through the audit, if Chengtong Group is found to have the behavior of evading the funds and high-quality assets of MCC paper and evading bank debts in the name of restructuring, it shall be resolutely stopped; Establish a social punishment system and publicly expose its blacklist system; At the same time, an accountability system was established to severely hold Chengtong Group executives accountable and impose administrative penalties to warn state-owned enterprises to regulate and restrict their own business behavior and enhance social awareness

secondly, scientifically demonstrate the integration and reorganization plan to ensure the safety of bank assets. At present, the creditor bank and Chengtong Group have reached a point of tension with each other on the integration and reorganization plan of MCC paper industry. Creditor banks believed that there was a premeditated and planned intention to evade bank debt in this plan, and took corresponding financial sanctions against MCC paper and Chengtong Group. The people's Government of Shandong Province sent a special letter to the SASAC, pointing out that the restructuring plan of Chengtong Group had the intention of suspending and evading bank debt, and suggested that the SASAC should stop this kind of behavior

at present, the first is to determine the three bottom lines of the reorganization of MCC paper industry:

the reorganization plan should be in line with the reality of MCC paper industry and respect the wishes of enterprises

all restructuring plans should ensure the safety of bank debt

it is forbidden to evade bank debts, and it is strictly forbidden to release the plan that breaks through the three bottom lines

second, set up a high-scale expert team to scientifically evaluate and demonstrate all the integration and reorganization plans of Chengtong Group related to MCC paper industry, and publicize the results to the whole society; And solicit opinions from all parties, especially creditor banks, so that the restructuring plan can be smoothly passed and implemented. In order to stop the unhealthy tendencies in the reform of state-owned enterprises, ensure the safety of bank assets, prevent regional and systematic financial risks, and maintain the good image of central enterprises

in addition, all departments should come forward to coordinate the relationship between banks and enterprises, effectively resolve contradictions, eliminate opposing emotions and extreme behaviors of both sides, bridge the cracks, and make the enterprise return to normal operation as soon as possible; At the same time, we will launch a package of effective measures and plans to solve the debt crisis between creditor banks and Chengtong Group, actively resolve debt disputes, reshape the mutually beneficial and win-win relationship between banks and enterprises, and provide experience for the current restructuring and reorganization of state-owned enterprises

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