People’s Daily the development of mixed ownership must regulate asset valuation – View – People’s ne-clazziquai

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People’s Daily: the development of mixed ownership — to people.com.cn development asset valuation — viewpoint specification for mix all the legitimate rights and interests of relevant parties involved in economic security system, assets or the valuation of the project must be fair, not only to prevent the loss of state-owned assets, and prevent non damaged public capital rights. This requires the establishment of clear norms, strict procedures, institutional arrangements for asset valuation and enterprise operation after the integration of equity. Scientific and fair valuation of state owned assets before equity amalgamation. To clarify the form and type of state-owned assets is the premise of fair evaluation of the value of state-owned assets. In general, tangible assets are easier to value, and assets that exist in other forms are easily overlooked or difficult to value. Patent, trademark, brand and other intangible assets. Two are special resource assets, such as resource exploitation right, concession, franchise, land use right, naming permission and so on. These assets of state-owned enterprises are corresponding to the special functions of people’s livelihood security and public services, and other enterprises are difficult to obtain. Three is policy to protect resource assets. Some state-owned enterprises contain price subsidies, loss subsidies and credit guarantees, which provide important protection for the operation of enterprises. Four is goodwill. Goodwill is an important part of the core competitiveness of enterprises, especially the research, innovation, brand enterprises, some have high visibility, some have obvious advantages of technology, talent, innovation potential, high growth. In the development of mixed ownership economy, the value evaluation of intangible assets should be highly valued. However, China’s current accounting standards for enterprises has not yet made a clear definition of the enterprise’s special resource assets and policy guarantee resources assets, and the goodwill is only included in the purchased goodwill, and it does not stipulate the self generated goodwill of the enterprise, so it is urgent to make up for and perfect it. Before the equity amalgamation, we should classify and confirm the various forms of state-owned assets, and then entrust the third party professional evaluation agencies to make scientific and fair valuation of state-owned assets by item by item. Clearly define the nature and policy arrangement of the enterprise after the equity amalgamation. Whether the new mixed ownership enterprises continue to assume public welfare or policy tasks should be clarified. Continue to assume public responsibility or policy task, should be re registered in the company’s charter to make clear statements, some special rights and the new enterprise enjoys (such as resource rights, safeguard the rights and interests of policy etc.) made it clear that the value of equity in state-owned capital. Mixed ownership of public policy no longer bear the duties or tasks, fully market-oriented operation, the original state-owned assets in resource assets is difficult to peel back, should transfer to the market pricing for the new enterprise or the price included in the state-owned capital; can be stripped (such as land use rights), one-time auction will be cancelled; continue to have an important influence and the benefit of the business (such as franchise, franchise, etc.) should be based on the market value of disposal; policy to safeguard the rights and interests, shall be revoked or withdrawn. A unified and definite system arrangement should be made for the newly invested projects. The development of mixed ownership economy can not be anxious for success, the most important thing is to improve the system and rules, to ensure that reform has laws and regulations to follow. Especially the cooperation between government and social capital

人民日报:发展混合所有制须规范资产估值–观点–人民网   发展混合所有制经济涉及相关各方合法权益保障,资产或项目的估值必须公平,既防止国有资产流失,又防止非公有资本权益受损。这就要求建立明确的规范、制定严格的程序,对资产估值和股权融合后的企业运营作出制度性安排。   对股权融合前国有资产进行科学公允的估值。厘清国有资产的形态和类型,是公正评估国有资产价值的前提。一般来说,有形资产比较容易估值,而以其他形式存在的资产则容易被忽视或不易估值。一是专利、商标、品牌等无形资产。二是特殊资源性资产,如资源开采权、特许权、专营权、土地使用权、冠名许可权等。国有企业的这些资产是与其民生保障、公共服务等特殊功能相对应的,其他企业难以获得。三是政策保障资源性资产。部分国有企业隐含有价格补贴、亏损补助、信用担保等,这些政策保障性资源为企业运营提供了重要保护。四是商誉。商誉是企业核心竞争力的重要组成部分,尤其是研究型、创新型、品牌型企业,有的具有较高知名度,有的具有明显的技术、人才优势,创新潜力大,成长性高。在发展混合所有制经济时,应高度重视无形资产的价值评估。但是,我国现行《企业会计准则》尚未对企业特殊资源性资产、政策保障资源性资产作出明确界定,对商誉也仅纳入了外购商誉,未对企业自创商誉作出规定,亟待弥补、完善。在股权融合前,应对各种形态的国有资产进行分类登记、确认,然后委托第三方专业评估机构,逐项对国有资产进行科学公允的估值。   清晰界定股权融合后企业经营的性质和有关政策安排。新的混合所有制企业是否继续承担公益责任或政策性任务,应当予以明确。继续承担公益责任或政策性任务的,应在公司重新登记的章程中作出清晰表述,并对新企业所享有的某些特殊权益(如资源权益、政策性保障权益等)作出明确规定,将这些权益价值计入国有资本。对不再承担公益职责或政策性任务、完全市场化运营的混合所有制企业,原国有资产中资源性资产难以剥离收回的,应以市场定价方式转让给新企业或作价计入国有资本;可以剥离的(如土地使用权),可一次性拍卖注销;对经营将持续产生重要影响和效益的(如专营权、特许经营权等),应以市场价值处置;有政策性保障权益的,应撤销或收回。   对新上投资项目作出统一明确的制度安排。发展混合所有制经济不可急于求成,当前最紧要的是健全制度和规则,确保改革有法可依、有规可循。尤其是对以政府和社会资本合作(PPP)模式筹资建设的投资项目,应加快健全相关配套法规,明确经营领域、类型、性质、责任、特殊权益性资源和政策保障性资源等内容,确保其规范有序发展。此外,应在发展混合所有制经济全过程建立健全包括国有资产权益处置在内的审查监督机制。对国有资产估值中确有必要让利的项目,应作出明确说明,并经过批准程序,让利让在明处,防止权力寻租和暗箱操作。   在国有资本投资非公有制企业形成混合所有制经济时,也应按照同样的程序对非公有制企业资产进行估值,并作出运营的制度性安排。   (作者单位:北京交通大学经济管理学院)   《 人民日报 》( 2016年02月01日 07 版)相关的主题文章:

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