Social capital from the state council to launch more than 80 demonstration projects to recent to seek association with what was steady growth in investment, efforts to open to what is stepping up investment field. According to the China securities journal reporter, only in June, more open to what project size has more than one trillion yuan.

In the face of multidisciplinary open project, corporation have different participation: some of asset quality, how to price, whether they hold have doubts; Some active layout, looking forward to a slice of this action. The personage inside course of study says, want what was obvious progress into the open field, besides the government is encouraging, but also break the market threshold, monopoly, let what was involved in operable, by way of market operation, ensure what benefits. To further improve the legal environment, speed up the related laws and regulations, to guarantee the legitimate rights and interests of what.

Multipath what

Premier li keqiang on April 23, chaired a state council executive meeting decided, in accordance with the deployment of the government work report, the railway, port and other transportation infrastructure, a new generation of information infrastructure, major hydropower, wind power, photovoltaic power generation clean energy projects, such as oil and gas pipeline and gas storage facilities, modern coal chemical industry and petrochemical industry base, etc., the first to launch 80 conform to the requirements of the layout, beneficial to the transformation and upgrading of demonstration projects, geared to the needs of the public bidding, attract and encourage social capital to joint venture, sole proprietorship, franchising and other ways to participate in the construction operation.

At the same time, the steady growth in demand has prompted much intensive launch into what investment project. The project involves broad areas, investment amount is large.

In June, according to the China securities journal reporter, more than one trillion yuan project open to what. Shaanxi mid-june issued 39 projects open to social capital, involving the first choice of transportation, water conservancy, information infrastructure and natural gas development, new energy development, a total of six areas of cultural industry, with a total investment of about 270.4 billion yuan. Open to non-state capital of jiangxi province 300 demonstration projects, plans to introduce non-state funds 270.1 billion yuan; First launched in 100 in gansu province in areas such as encourage social capital investment projects in infrastructure; Guangdong 97 major projects with a total investment of 212 billion yuan to private investment in the bidding; Chongqing municipal state-owned key enterprise for non-public capital to launch 110 cooperation projects, a total of 265 billion yuan; Sichuan come first in deepening the reform of investment and financing system of guidance is put forward, with financial, railway, energy, telecommunications and other industries, service industries, including health, pension and shanty towns of dilapidated house of municipal infrastructure, affordable housing, etc as the breakthrough point, to speed up to the folk capital investment projects.

"Local intensive launched major projects open to what, important background is economic growth is slowing, local investment, steady growth pressure." Academy of social sciences in the pearl river area of guangdong province, said ChengJianSan, director of the center for economic research on consumption is difficult to control basic fixed, foreign trade, the department concerned only invest the carriage can be controlled. However, local governments are a platform company liabilities.

Sun yat-sen university lingnan college professor Lin jiang thought of finance and tax, local government financing in the future will be mainly through two channels: one is from financial innovation, the second is from private investment. Lin jiang thinks, from the commercial principles, as long as Banks that risk is controllable, the government of some projects still can get financing from the bank. "Of course, the central government would prefer to use bonds, funds, guarantee and other financial instruments deposit quantity and private capital."

"Downward pressure on economic growth, private capital." The national development and reform commission, the fixed assets sino-spain Huang Min said recently, whether local or central, is likely to be a leading policy accordingly. "What was involved in proportion will bigger and bigger."

Concerns remain

"What might be interested in some of the projects, but not mass entering." ChengJianSan thinks, what was in the short term not buying these government projects, these projects is only about 20% to 30% can produce benefits, and what is not so abundance.

The China securities journal reporter interview some of the private enterprise, he says, compared with the state-owned enterprises, private companies, the cost is high interest on loans. If you rely on their own capital investment, it is difficult to ensure profitability. Many investment project cycle is long, slow income.

From the central and local governments push what open fields, state-owned enterprises have to what was open the door. "What to enter, whether has the voice is the most concern of the enterprise," the tangshan industrial group President Han Wenchen admitted to the China securities journal reporter, corporation in state-owned enterprises, the basic will not exceed 30%, the percentage shares is small, I'm afraid it is difficult to hold the enterprise.

In Han Wenchen view, besides the percentage shares little difficult palm voice, state-owned enterprises also worries enterprise management system for a long time. State-owned monopoly will not change for corporation to enter in a short period of time, it makes a lot of corporation can't come in. On the one hand, the imperfect management system reform in state-owned enterprises, private companies it is difficult to adapt to the current management system. On the other hand, the current slowing economic growth in the overall, many corporation own development difficulties. Therefore, the corporation can't into, no ability, become what current dilemma.

Wu jin construction engineering co., LTD., chairman of heilongjiang province chien-yeh hsu in the field of the open what big push into clean energy projects. Chien-yeh hsu told the China securities journal reporter, at present, the company has in heilongjiang province, zhejiang, shandong and other places to carry out the photovoltaic agricultural projects, layout, clean energy projects. "Because of the distributed photovoltaic unified benchmark price subsidy policy has not yet been released, now the company is the preliminary layout, once the policy to the ground, around the project will start immediately."

The China securities journal reporter combed the 80 social capital investment projects by the state council found that railway modern coal chemical industry, clean energy, such as huge investment. The secretary general of the China renewable energy institute Meng Xiangan estimates that in 80 project, not announced specific projects of 30 photovoltaic power generation project, may be to want to invest more than 2000 2000 yuan.

Chien-yeh hsu said, only by corporation own accumulation of funds is impossible. These projects to introduce what is subject to the local government support, especially the policy support. He said: "in many places the policy continuity, many companies have been wait."

Investment rules need to be clear

"Everywhere in after the completion of policy, next year is expected to corporation investment will break out." Chien-yeh hsu argue that although the central actively promote and encourage private companies to participate in the investment projects but vague because a lot of detailed project specific investment, enterprise is hard to calculate return on investment ratio, so the investment is more cautious.

Perfecting the system design, let what was involved in operable is a lot of people in the industry consensus. Minsheng securities analyst zhang thinks, it is important to system design problem. Early at least have a clear guidance, namely clear what was involved in investment after what are the rights and interests, not just simple investors. Otherwise, what will worry about investment returns and risks.

Tenure in the cic advisory industry and director of the centre for policy studies, chi bright view, after promoting what was the cause of the poor policy mainly policy implementation does not reach the designated position. On the one hand, institutional and policy barriers still not lifted, what was entering the restricted; On the other hand, part of the detailed rules for the implementation is not specific, interoperability is not strong, it makes what is hovering outside a infrastructure construction investment.

State information center, ministry of economic forecasting, chief analyst at wang yuanhong thinks, want what to enter some monopoly, remarkable progress was made in infrastructure, in addition to the government to encourage, to break the market threshold, monopoly, let what was involved in operable, at the same time according to the way of market operation, ensure what benefits. Still should further improve the legal environment, speed up relevant laws and regulations, to guarantee the legitimate rights and interests of what.