Rise of the 1630s South America

Chapter 2074 Source of Funds

"Section Chief Huang, what do you mean this time? Let's take stock of the Nanhai Group's assets. Are we going to conduct a surprise audit? Could something have happened?" On August 1689, 8, a group of Officials from the Ministry of Finance are taking stock of the assets of the sprawling state-owned enterprise.During the evening break, two low-ranking officials were discussing the reasons behind the incident.

The person who asked the question was a staff member who had worked in the ministry for eight years, but because he had no background and no outstanding talent, he was still only a small staff member.Fortunately, he is quite diligent in his work, and he always tries his best to complete the tasks assigned, so his reputation is not bad. Maybe in the future, when there is any vacancy in the third department of the State-owned Assets Department where he works, he can fill in an assistant to the section chief or even a deputy section. long, but that's all.

"Audit Mao." It was a young cadre who answered, and while stirring the coffee cup on the table, he said casually, "What kind of company is Nanhai Group? Members of the executive committee should focus on it." As one of the five companies in China, every department needs to form a joint working group for auditing, and then a big figure at the executive committee level takes full responsibility. The Ministry of Finance is no longer the major shareholder of Nanhai Group, and has Mao's audit power."

"This time we came here to work mainly because someone wanted to take stock of the Nanhai Group's assets and get an accurate valuation. Don't you understand this rhythm? This is to sell a part of the group's shares!" Huang Ke The chief lowered his voice, and said earnestly: "This matter is a bit sensitive. We usually don't ask too much, don't worry too much, just work hard. Selling part of the shares of Nanhai Group in exchange for funds, there is no consensus on this matter. , don't go outside and make a fuss."

"It really is Brother Huang! The news is so well-informed!" The questioning staff immediately flattered.

This "Brother Huang" is not without some background.His grandfather's generation used to work in Yantai for many years with Huang Hanhua, who is now the Minister of Taxation.His father also worked for Huang Hanhua when he was in Haizhu Island, and he was also very important and had an unusual relationship.

Therefore, it is no wonder that there are rumors outside that this section chief Huang is the head of the tax department—he may be promoted to the head of the Ministry of Finance in the near future to succeed Wang Yan—a relative of Huang Hanhua.However, for various reasons, Section Chief Huang neither admitted nor denied such rumors, which gave people a sense of inscrutability, which made him take advantage of a lot in the officialdom.

In fact, Section Chief Huang and Huang Hanhua, the big boss, have not been around much, but thanks to the relationship between his father and grandfather, he can still learn many secrets that are difficult for ordinary people to access.For example, this time the Ministry of Finance dispatched a number of working groups to the Nanhai Group headquarters in a low-key manner. Section Chief Huang vaguely knew that it was probably related to the government's desire to sell shares to raise money.

Of course, there are many ways for the government to raise money. For example, they can issue bonds, for example, they can also use their gold reserves, for example, they can increase taxes. Of course, selling some state-owned assets is also one of the means. It depends on how you choose.Section Chief Huang vaguely feels that with the current high level of government debt, reissuing bonds will face many problems. If there is less repayment, it will be very difficult to raise funds of more than 500 million yuan.Therefore, it is still necessary to find a way through multiple channels to raise enough funds.

When it comes to the sale of state-owned assets, one has to mention more and more accusations and criticisms against large state-owned enterprises in the east coast.Take Nanhai Group, one of the benchmark state-owned enterprises on the east coast, as an example. The company has four major subsidiaries including Nanhai Transportation Company, Nanhai Liner Company, Nanhai Fishery Company and a large seafood processing plant located in Yancheng Port.Among them, Nanhai Shipping Company is the largest shipping company in the country, with a large fleet, which is larger than the gross tonnage of many European countries. Its merchant ships are spread all over the Atlantic and Pacific Oceans. In addition to carrying out normal entrusted transportation business, it is also engaged in commodities. Import and export trade, the profit is amazing.

The South China Sea Fisheries Company is similar.After this company took over the business of the former Southern Iron Fishing Company, it almost monopolized the fishing on the east coast of the Pacific Ocean. At the same time, it also occupied the largest share in the fishing business on the Atlantic coast. .2 Integrity of fishing companies.What an astonishing windfall this should be, as people on the east coast consume more and more seafood today!In addition, ocean-going whaling is almost the exclusive business of the company, and no decent competitors have emerged so far. Its whaling fleet almost provides more than 90% of the whales on the east coast, which is amazing.Therefore, this can well explain why this company was once the most profitable company in the country—even now, it often wins the honor of being the largest taxpayer.

In addition to the South China Sea Transportation Company and the South China Sea Fishery Company, the South China Sea Liner Company and the Yancheng Seafood Processing Plant are actually quite profitable.The former may be a bit inferior, but it will not be a loss. The profit of the latter is also at a medium level among state-owned enterprises, and it can make a considerable contribution to the group every year.

Therefore, the Nanhai Group, which holds four major companies, is really a sweet pastry and a cash cow in the eyes of many people, and they must seize it quickly.Therefore, they began to start from two aspects. One was to build up public opinion, publicly accusing the Nanhai Group of bureaucracy, and cited its bloated management organization, low operating efficiency, and rampant internal corruption and embezzlement.To be fair, most of them are not groundless. There are indeed serious problems in the operation of Nanhai Group. Inefficient corruption, nepotism, procrastination, etc. So deep.Many people say this, ostensibly out of public interest, but they may not have taken the opportunity to privatize it in order to get a share of the group's huge profits.

Another major criticism of the Nanhai Group from the outside world is its domineering business style.To put it bluntly, many companies or individuals operating in the fishing, shipping, and seafood processing industries feel that this behemoth-like company has been involved in monopoly.That's not to say they administratively bar other people from these industries, that's not true.What they blamed was mainly that the Nanhai Group used its comparatively strong capital, advanced science and technology, and large production scale to conduct asymmetric competition against other small enterprises, which suppressed many other enterprises and prevented them from growing.

These two charges have made the Nanhai Group have a very bad reputation recently, and they feel a bit like street rats.Of course they didn't want to admit these crimes, but many of the people who accused them stood behind many hands and eyes. The matter was not simple at all, so the company's senior management suddenly became a little weak and didn't know what to do.

Members of the executive committee are actually tolerant of Nanhai Group in general, because this company is indeed a cash cow in their hands, accounting for a large part of the annual public income.However, the group's problems also exist objectively, so after thinking about it, they finally decided to sell some of their shares, introduce so-called "strategic investors", and set up a modern board of directors composed of various shareholders, so that shareholders can supervise them. Promote the reform of the company.

After all, now that the country is so big, it is impossible for them to keep an eye on the company's every move for a long time. You can't send secret agents or secret police to the factory, right?What kind of words are that!Therefore, it seems like a win-win thing to sell part of the shares in exchange for valuable land purchase funds, reorganize the company's management, and let the board of directors decide everything.In any case, as long as the government has more than 51% of the shares and still has control, it is enough, and other things don't need to be too concerned.

As for whether there are any tricks in the process of this partial privatization, and whether there will be a problem of benefit transfer that many people speculate, this is another matter.There are some things that can only be understood but cannot be conveyed in words. If you talk too much, you will shake the foundation of the country. You can't say it!

There are actually several companies similar to Nanhai Group.Such as Northern Chemical Company, Tieling Heavy Industry Consortium, Ping'an Coal and Steel Consortium, United Industrial Credit Bank, Dayuhe Arsenal, Dafeng Food Company, Dong'an Insurance Company, Ping'an Weaving Factory, Dayuhe Textile Factory, etc. High-quality profitable companies also plan to sell 10%-40% of the shares together this time to raise huge land purchase fees.

There are quite a few people in China who oppose the sale of the company, even in the Founders' Parliament.Members of the East Coast Company who provided a large amount of dividends questioned that this would reduce the government's fiscal revenue, leaving the country with insufficient funds to carry out various major projects.They consider themselves the rulers of this country, and they sincerely want to maintain the ruling tool of the Eastern China Republic. After all, if the country is weak, their status cannot be maintained, so they are very opposed to this kind of self-weakening behavior.

However, there are also many people who disagree with them in the parliament, and they even have a faint upper hand.Especially those who hold a large amount of funds and look for good projects to invest in. They are very enthusiastic about buying shares in these large and medium-sized state-owned enterprises, and they are determined to promote the reform of state-owned enterprises.They even pointed out that the purchase of the Pampa Plain, the Chaco Plain, and the Central Valley of Chile is a matter of future generations, and there is no need to be sloppy. Sufficient funds must be raised in the short term to be delivered to the Spaniards, otherwise things will go wrong after a long time. change.

They have such "hard" reasons, and for a while those who opposed the sale of shares had nothing to say.Therefore, we saw the opening scene, where the Ministry of Finance sent personnel to the Nanhai Group headquarters to take stock of assets.The deepening reform of state-owned enterprises seems inevitable.

Too busy, I will work overtime tomorrow, I hurriedly coded out a chapter, and went to bed.

(End of this chapter)