Nine ministries and commissions including the National Development and Reform Commission, the Ministry of Finance, the State-owned Assets Supervision and Administration Commission, and the Securities Regulatory Commission are brewing relevant policies to promote the merger and reorganization of eight key industries such as steel, automobiles, cement, machinery manufacturing, electrolytic aluminum, rare earth, electronic information, and pharmaceuticals. People from the National Development and Reform Commission told reporters that the inter-ministerial coordination group for corporate mergers and reorganizations of the State Council recently convened a meeting of heads of member institutions. The relevant person in charge of the State Council stated that this year and next year are the critical period for the reorganization of the eight industries and the State Council requires the introduction of targeted policies. Speed ​​up this work. The “memorandum†at the inter-ministerial meeting clarified five important tasks for promoting mergers and acquisitions in the next phase. First, we must firmly establish the orientation of enterprises as the main body, give full play to the role of the inter-ministerial coordination mechanism for corporate mergers and reorganizations, and gradually establish a mechanism for coordinating and resolving problems to help enterprises coordinate and resolve outstanding problems. The second is to study the introduction of guidance and merger and reorganization guidance for key industries, and strengthen the guidance and services for the merger and reorganization of enterprises in key industries. Third, in accordance with the State Council's work plan to promote mergers and acquisitions of enterprises, and in response to the problems in the merger and reorganization of enterprises, further implement the policy measures. The fourth is to give full play to the role of local governments in promoting enterprise mergers and reorganizations, strengthen organization and leadership, improve policies and measures, and form a mechanism for the merger and reorganization of enterprises with coordinated central and local coordination and cross-departmental coordination. Fifth, efforts will be made to build a corporate merger and reorganization public information service platform. Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology, stated that “at present, China’s industrial economic structure has low industrial concentration, small and dispersed enterprises, and low levels of socialization and specialization. This results in inefficient allocation of resources and duplication of research and development. Repeated construction and other outstanding issues. It is very urgent to further promote mergers and reorganizations." According to the Ministry of Industry and Information Technology, there are currently more than 500 crude steel production enterprises in China, with an average size of only 1 million tons. The top 10 enterprises account for only 48% of the country's total crude steel production. In contrast, South Korea’s Pohang’s crude steel production accounts for about 60% of South Korea’s total. Steel companies such as ThyssenKrupp in Germany, U.S.’s U.S. Steel Company, and Russia’s Shevre, etc. The proportion of production exceeded 20%. China's auto industry also presents small, weak, scattered characteristics. According to statistics, there are currently more than 1,300 vehicle manufacturers of various types in China, of which there are 171 auto vehicle companies, 120 motorcycles, 900 special-purpose vehicles, 135 three-wheel vehicles and low-speed trucks. The Ministry of Industry and Information Technology believes that among the more than 1,000 companies, there have been a number of companies that have been in production or semi-discontinued status for many years. Production is extremely low or even without output, and survival is very difficult. The relevant person in charge of the Department of Industrial Coordination of the National Development and Reform Commission told the reporter that the National Development and Reform Commission will strengthen the merger and reorganization of steel, cement, and automobile industries and eliminate backward industrial requirements when formulating and improving specific plans for key industries. The merger, reorganization and elimination of backwardness will be the preconditions for the approval of new projects. We will continue to strengthen support for the technological transformation of mergers and acquisitions companies and support conditional enterprises to establish technology centers to eliminate backward production capacity through mergers and acquisitions. The relevant person in charge of the Ministry of Finance stated that it is necessary to actively do a good job in all aspects of corporate mergers and reorganizations led by the Ministry of Finance. At present, the eight tasks that the State Council requires the Ministry of Finance to cooperate with have also been implemented in relevant departments. According to reports, in the next phase, the SASAC will strengthen the guidance and regulation of mergers and reorganizations of central enterprises and further standardize mergers and acquisitions of enterprises. In particular, the SASAC will make great efforts to remedy the problems of unclear development strategies, blind pursuit of scale and mergers, insufficient capacity for cross-border mergers and acquisitions, failure to achieve effective integration after mergers, and insufficient effectiveness of reorganization. At the same time, it further promoted the reorganization and integration of central enterprises, centered on the central enterprises' adjustment of development methods, strengthened and optimized, and fostered the overall goals of the world's enterprises, and continued to promote the reorganization of a number of enterprises that were not in important industries, and whose scale was relatively small and whose efficiency was poor. Finally, we will continue to strengthen support for corporate mergers and reorganizations, and gradually adjust and improve performance assessments and state-owned capital expenditures. "For applications for mergers and acquisitions of listed companies, the China Securities Regulatory Commission has been reviewing the sub-channels for review," said the person in charge of the China Securities Regulatory Commission. Specifically, the SFC will simplify the approval process for good-rating M&A applications, while poorly rated applications will be carefully assessed. He said that there are a total of four rating standards, which are industrial policy considerations, transaction type considerations, the integrity of listed companies, and the qualification and level of intermediaries. The integrity of listed companies is mainly based on the daily regulatory records of regulatory authorities. The relevant person in charge of the Department of Industrial Coordination of the National Development and Reform Commission stated that “from the current point of view, cross-sector, cross-regional, and cross-ownership mergers and acquisitions are more difficult. Therefore, in the process of mergers and reorganizations, we must handle all aspects of the central government, enterprises, and localities. relationship." It is understood that at present, some provinces (autonomous regions and municipalities) have established cross-departmental working mechanisms involving the relevant local government departments, and some provinces (autonomous regions and municipalities) have studied and formed working mechanism drafts and are currently reporting to provinces (autonomous regions and municipalities). Government approval. Hebei Province, Shandong Province, and other provinces set up by the deputy governors in charge of the province, industrial and information technology, development and reform, state-owned assets, finance, human resources and social security, industry and commerce, taxation, finance and other departments and units responsible for the merger of provincial enterprises Reorganization work leading group. In Jiangsu Province and Fujian Province, a coordination group for mergers and acquisitions was established. The division was headed by deputy governors, provincial economic and information technology commissions, and development and reform commissions. Cork Rod Handle,Cork Rod Grip,Cork Handle Fishing Rod,Fishing Rod Cork Jiangsu Real Sporting Goods Limited Company , https://www.realcorkwood.com