Ministry of rare earth industry to talk about mergers and acquisitions: autonomy in the enterprise

State Council Information Office on the comprehensive deepening reform and accelerating the work of new industrialization held a press conference . Miao Wei, Minister of Industry , said at the press conference to encourage the promotion of corporate mergers and acquisitions , we must prevent a " matchmaker " rare earth industry truly corporate mergers and acquisitions decision-making, autonomy , or in business, not in the government.

Miao Wei said, now one of the biggest phenomenon of rare earth , infant formula is the number of firms in other industries where a lot of industry , firm size is very small, less than their market competitiveness , market supply and demand contradictions. Encourage the promotion of corporate mergers and acquisitions , we must prevent the planned economy era past this hand a strong government role , and even many so-called " matchmaker ", ie against the wishes of the enterprise, forcing organizations to put everyone together . We should create a relatively good environment , relatively good conditions for corporate mergers and acquisitions . For example , we are now due to the restriction of competition divisions , many very difficult cross-regional mergers and acquisitions involving GDP between how the two count , related to how the tax between the two points, like this , we still want to study take effective measures to help solve these problems. As another example , cross-ownership mergers and acquisitions, I'm talking about just now is the same reason military and civilian , private enterprises to participate in the reform and restructuring of state-owned enterprises is more complex, the Third Plenum of the Party pointed out a clear direction , encourage and support including private enterprises the enterprises of various ownership to participate in the reform of state-owned enterprises , the formation of mixed-ownership enterprises, between enterprises and enterprises from through negotiations and consultations .

Miao Wei said that we support some of the fiscal and financial policies , the government should give some improvement in handling corporate mergers and acquisitions process . For example, corporate mergers and acquisitions , often after many enterprises through the assessment , there is a great appreciation of the assets , it is necessary to pay a very high appreciation of the future income tax cases in the past we have taken special treatment approaches in the future may want to push the after becoming a common case management policy , which is to assess corporate mergers and acquisitions , the appreciation of which can no longer be part of corporate income tax . Some support the financial sector and financial aspects of the past, we are more strict in this regard , such as financial loans , short term , it is difficult to adapt to the corporate restructuring , the relatively long duration of the loan , there are international capital there are ways lightning financing market , that money needs to corporate mergers and acquisitions , financing from the capital markets, will soon be able to get the approval of the regulatory authorities , to raise a sum of money from the market , these areas should learn .

Miao Wei said , whether it is rare or, in other industries , what we are to create a relatively fair and equitable environment for corporate mergers and acquisitions in this way . Of course, the real decision-making power corporate mergers and acquisitions , autonomy is still in business, not in the government.


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