I’m at work, and according to tradition, the work of the new year has just begun. I wish my friends all the best, good health, successful careers, and progress step by step!

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Hou Weidong was still a little happy about this morning. He was studying the problem of state-owned enterprises and encountered a vivid example.

Hou Weidong waited until Zhou Changquan returned to the office and said while resuming Zhou Changquan. "Secretary Zhou, I think the central government will introduce relevant policies to resolve state-owned enterprises in the near future."

Zhou Changquan was pretending to be this matter in his heart. He glanced at Hou Weidong and encouraged him: "Tell me what you think."

"At the 15th National Congress of the Communist Party of China, the reform goals of promoting the modern enterprise system, developing diversified property rights structures and implementing strategic restructuring of state-owned capital were closely linked. However, from 1997 to the present, the dilemma of state-owned enterprises has not been completely changed. I remember the Prime Minister once said that state-owned enterprises should get out of the 3rd, and if they fail, they will resign to thank the world. The People's Daily has been constantly making excuses at this stage, so I concluded that at the Fourth Plenary Session of the 15th National Congress, the central government should introduce new policies."

Zhou Changquan was surprised that Hou Weidong could say this. He wanted to see what Hou Weidong had, and said, "Okay, okay, you continue to say."

"There are many ways for the state to solve the problem of excessive debt ratio of enterprises, such as increasing banks' write-offs of bad debt reserves, appropriately reducing the proportion of state-owned shares, choosing a good company to go public, increasing the proportion of direct financing, and transferring land use rights for a paid transfer. Corporate assets are cashed, etc. Debt-to-equity conversion is only one of the means, based on the situation of Shazhou Cement Plant. The most likely method is to implement debt-to-equity conversion."

Among the materials given by Wang Hui, there are theoretical articles that specifically discuss the issue of debt-to-equity conversion. Hou Weidong has been involved in special laws such as the Company Law. He specially studied the issue of debt-to-equity conversion last night, and he has some experience.

Seeing Zhou Changquan listened seriously, his confidence increased greatly and said: "Theoretical debt-to-equity conversion refers to the acquisition of non-performing assets of the bank by the State Financial Asset Management Company and the original creditor-debtor relationship between the bank and the enterprise into the relationship between the controlling (or holding) and the controlled shares between the financial asset management company and the enterprise. The State Financial Asset Management Company actually becomes a shareholder of the enterprise's phased shareholding. Exercise shareholder rights in accordance with the law, participate in the decision-making of major affairs of the company, but does not participate in the normal production and operation activities of the enterprise. After the enterprise's economic situation improves, the funds are recovered through listing, transfer or enterprise repurchase."

Zhou Changquan also heard this view when he held a meeting in the provincial party committee. It was just that it was a group discussion at that time. A leading comrade from the Provincial Development and Reform Commission put forward this view, and the comrades present also had a serious discussion. He did not expect that the people around him could also put forward the same opinions, so he deliberately took him and said, "If you want to be more specific, just take the cement factory as an example."

"Specifically, for example, Shazhou Cement Plant, from the bank's payment of more than 200 million yuan to the end of 1998, the principal and interest were close to 500 million yuan. The main problem of Shazhou Cement Plant is that its debt is as mountains of debt, not poor operation. If debt-to-equity conversion can be promoted, after the debt rights are converted into equity, the original principal and interest repayment will be transformed into dividends based on shares. It changes from a borrowing relationship to an investment cooperation that does not require repayment, which does not increase fiscal expenditures. It also reduces the debt repayment burden of enterprises, and banks also obtain management rights. This is a debt restructuring plan with the lowest real cost, with little social shock, so it can be used on a large scale, which is conducive to the effect of freeing the debt problems of the State Bank and state-owned enterprises in a short period of time, and the dilemma of Shazhou Cement Plant will be solved."

Zhou Changquan looked at Hou Weidong with some appreciation and praised him: "It's rare that Xiao Hou has the ability to think independently. If your point of view is feasible, it will be of guiding significance to the overall work. This matter cannot be done by theory alone. There must be a set of people to conduct systematic research. The Municipal Party Committee and Municipal Government will propose corresponding measures based on the research results."

Hou Weidong was rarely praised by Zhou Changquan and felt happy, but he did not expect that Zhou Changquan was very decisive.

In the afternoon, Zhou Changquan talked with several department heads and ordered: "Notify the Secretary-General and ask him to preside over the meeting of the Municipal Party Committee Research Office, and at the same time, please invite Mayor and Municipal Government Research Office to attend."

Hong Ang’s office is not far away. In order to show respect for the Secretary-General, Hou Weidong walked to his office to show respect for the Secretary-General. This time, he put down his thoughts and went directly to Hong Ang.

Hong Ang was a little surprised and asked, "Wei Dong, what's the matter? Such a big disturbance?" Of course, Hou Weidong would not say that it was his own thing, and said, "It's probably for the cement factory in the morning. Secretary Zhou must develop corresponding countermeasures."

Hong Ang used to be a secretary in the county and was very familiar with the situation of the enterprise. He was a little troubled by it, saying: "I am afraid that it is not something that we, the group of people, can handle. The Central Committee proposed to get out of trouble for three years. It is difficult to say how the results are now, and it is difficult to handle."

Hou Weidong deliberately reminded Hong Ang, but pretended to be casual: "Listen to Secretary Zhou's intention, the Fourth Plenary Session of the 15th Central Committee is about to be held. Judging from the news media's briefings some time ago, the Fourth Plenary Session of the 19th Central Committee must also take measures against state-owned enterprises, so that the two research departments can prepare in advance and seize the opportunity."

Hong Ang squinted his eyes and thought for a while, and said sincerely: "It turns out that this is the idea. After all, the leader is the leader. If you look at the problem, you have to stand higher."

During the meeting, Zhou Changquan attended in person. When Executive Vice Mayor Bu Haiyun briefly talked about the situation of state-owned enterprises in Shazhou City, he said: "The two research departments of the Municipal Party Committee and Municipal Government should not just be departments that write articles for leaders. I just looked through the responsibilities of the Municipal Party Committee Research Office. The first is to conduct a comprehensive investigation and research on the economic development of the city, focusing on studying the major strategies and major policy issues in deepening reform, expanding opening up, and accelerating development, and put forward countermeasures and work suggestions."

"The comrades who entered the research room are all high-quality talents. You should be a think tank of the municipal party committee and government. Although the research room is very hard and has been effective in the past two years, I think it has not played a good role, or it is not a big enough effect."

Because they are all insiders of the municipal party committee and government organs, Zhou Changquan's conversation was very direct and said: "The development levels of different places are different. Although there are huge differences, whether the policies can be used well is a very important factor. I have visited the whole country in recent years. According to my experience, whether the policies can be used well will determine the economic development level of a region. Wherever places with high economic development level are actively studying the central policies and seeing what the central government does not prohibit or what they prohibit, they will do boldly."

Hong Ang and Bu Haiyun smiled when they heard this.

"Regions with average economic development levels should also take the initiative to study the central policies. They look at what the central government allows them to do. They prepare in advance. As soon as the central government policy was introduced, they immediately introduced supporting measures, taking advantage of many advantages."

"Economic backward areas are waiting for the central policy. After the central policy is introduced, they still have to learn slowly. After they wake up, they can only drink cold porridge."

Zhou Changquan raised his voice and said, "The Municipal Party Committee and Municipal Government Research Office must consciously learn from economically developed regions and take advantage of more policy loopholes. Today I will arrange a topic here to study the upcoming Fourth Plenary Session of the 15th Central Committee, predict the central problems of the plenary session, and propose Shazhou's response methods." He stared at Zhou Biao with his eyes and said, "Director Zhou, you are the deputy director of the Municipal Party Committee Research Office. Have you thought about this problem?"

Zhou Biao's name is very majestic, but he has a white face. He has a big back and looks gentle and kind look. He said: "The laboratory has discussed related issues, but it is not systematic and in-depth. We will do a special research later."

Zhou Changquan said: "This is a global work. In the past few months, a team was established to study the reform of state-owned enterprises. Mayor Bu took the lead and was headed by Secretary-General Hong as the deputy group leader. The office was located in the Municipal Party Committee Research Office, with Deputy Secretary-General Zeng Yong as the director of the office, and Zhou Biao and Mo Weimin as the deputy director."

Bu Haiyun said: "The office is located in the Municipal Party Committee Research Office. It is recommended that Secretary-General Hong be the team leader, and I will cooperate."

Zhou Changquan did not adopt his opinion and said, "Mayor is in charge of industrial enterprises, and the situation is most familiar and has the most say, so don't push it. I will add one more thing. First, we should pay attention to studying the issues of state-owned enterprises in Shazhou, and second, we must connect with the central policies. These two points are very important." Speaking of this, he added, saying, "The deputy director has two more, and Hou Weidong from the municipal party committee will also participate."

Everyone was surprised when this statement was made, but Hou Weidong himself is the deputy director of the Municipal Party Committee Office and the head of the Comprehensive Section, and it is reasonable for him to be the deputy director.

Hong Ang's thoughts turned and said to himself: "Secretary Changquan relies heavily on Hou Weidong and is gradually adding burdens to him. Hou Weidong, although this person is young, he can't underestimate him."

Since Hou Weidong was transferred to the Municipal Party Committee Office, Bu Haiyun began to pay attention to the young man. From Bu Gao's mouth, he knew a little about Hou Weidong's past and thought to himself: "Bu Gao is quite accurate in viewing people."

After the meeting ended, Hou Weidong thought about the past two days of work. A suggestion might have an important impact on the economy of a region, which made him feel the weight of his words.

Thinking of all the things happening around him, his thoughts spread and he thought to himself: "No wonder so many people have to work with their sharp heads. The power to be invisible to the leader is too great. If the mind is not right, you can make a profit for yourself by using a little bit of a crooked mind."

He warned himself: "Your position is too important. You must be cautious when speaking and doing things in the future, not to act randomly, nor to be exploited."
Chapter completed!