Shanxi launched a pilot reform of coal-electricity-aluminum-material integration

On the evening of September 11, the State Council issued the “Opinions on Supporting Shanxi Province to Further Deepen Reform and Promote the Transformation and Development of Resource-Based Economy”. The opinion pointed out that in the fields of coal, coke, metallurgy and electric power, industrial concentration will be improved. Formulate a work plan for the reform of mixed ownership of state-owned enterprises in Shanxi Province, and take the lead in selecting about 30 state-owned enterprises to carry out pilot reforms of mixed ownership. The opinion pointed out that by 2020, coal mining and rough processing will significantly reduce the proportion of industrial added value, and the proportion of advanced coal production capacity will gradually increase to 2/3. The level of clean and efficient development and utilization of coal will be greatly improved, and the supply capacity will continue to increase.

Create an upgraded version of clean energy supply. Support Shanxi Province to carry out the same amount of reduction and reduction of coal consumption, expand the scope of clean energy and renewable energy alternatives such as natural gas and electric energy, and develop renewable energy such as geothermal energy and solar energy according to local conditions. Encourage qualified coal and power companies to promote joint ventures between coal mines and power plants through capital injection, equity swaps, mergers and acquisitions, and equity transfers. Fully realize the competitive transfer of mining rights. The pilot reform of the integration of “coal-electricity-aluminum-materials” was carried out to promote the transformation and upgrading of the aluminum industry. Actively support the deep integration and innovation development work of the military and civilians in Shanxi Province.

According to the opinion, the reform of state-owned enterprises will be deepened in an all-round way, and the vitality of market players will be stimulated. In the fields of coal, coke, metallurgy, electric power, etc., we will increase the adjustment of the layout structure of the state-owned economy and increase the concentration of industry. Support central enterprises to participate in the reform of local state-owned enterprises, mergers and acquisitions and restructuring of state-owned enterprises in Shanxi Province. We will carry out pilot projects for state-owned capital investment and operation companies, and promote the joint restructuring of several major enterprises. The reform of mixed ownership has been promoted to a greater extent. Formulate a work plan for the reform of mixed ownership of state-owned enterprises in Shanxi Province, and take the lead in selecting about 30 state-owned enterprises to carry out pilot reforms of mixed ownership. Except for a small number of state-owned enterprises involved in national security, eligible state-owned enterprises are encouraged to gradually adjust the proportion of state-owned shares through overall listing, mergers and acquisitions, and issuance of convertible bonds.

Support central enterprises and coal and electric power enterprises in Excavator arm solution to form market complementarity and upstream and downstream synergies through mutual participation, shareholding and long-term agreements. Guide private enterprises to participate in the reform of mixed ownership of state-owned enterprises in Shanxi Province, and encourage the development of mixed-ownership enterprises with non-public capital holdings. Actively introduce effective strategic investors, standardize corporate governance structure, and implement market-oriented selection and employment and incentive and restraint mechanisms. Pilot ways to explore the viable ways in which employees of mixed-ownership companies can hold shares. The opinion expressed that financial institutions are encouraged to effectively connect with high-quality enterprises with good development prospects but encountering temporary difficulties, and to carry out market-oriented legalized debt-to-equity swaps. Support Shanxi Province to set up private banks under qualified conditions.