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Recently, the State owned Assets Supervision and Administration Commission of Ningxia issued the "Implementation Plan of Strengthening Liability Constraints for Enterprises Supervised by the State owned Assets Supervision and Administration Commission of the Autonomous Region" to strengthen enterprise liability control from eight aspects.
First, determine the value of debt constraint indicators. According to the asset proportion of each major industry and sector in the enterprise group's statement level as the weight, and according to the "constraint index value of the asset liability ratio of the supervision enterprise group" in the Performance Evaluation Standards of the State owned Assets Supervision and Administration Commission of the State Council, the weighted evaluation calculation is carried out, and the baseline, early warning line and key supervision line of the asset liability ratio of the group's statement are obtained, so as to achieve dynamic adjustment.
The second is to strengthen debt restraint supervision. The board of directors of the enterprise is required to do a good job in the top-level design of enterprise asset liability constraints. The operation management should prudently carry out debt financing, investment, expenditure, external guarantee and other activities to prevent excessive accumulation of interest bearing liabilities and contingent liabilities. The enterprise supervision and internal audit institutions should effectively play a good role in supervision and inspection to ensure that the asset liability ratio remains at a reasonable level.
Third, strengthen the management and control of affiliated enterprises. Strengthen the independence of assets, finance and business between the group company and its subsidiaries, and reduce risk contagion between parent subsidiary companies and subsidiaries. If the parent subsidiary company has a loan relationship, the debtor enterprise shall provide guarantee for the creditor enterprise, and if there is a guarantee relationship, the guaranteed company shall provide counter guarantee for the guarantee enterprise.
Fourth, establish a debt restraint mechanism. For enterprises that exceed the asset liability ratio warning line or above the key supervision line, the Group Company shall list them in the list of enterprises with key concerns and key supervision. In accordance with the principle of "ownership management and hierarchical responsibility", the Group Company will take reducing leverage and reducing liabilities as an important content of its assessment and evaluation, and urge enterprises to strengthen the control of debt ratio.
Fifth, revitalize assets and optimize liabilities. By clearing, integrating and revitalizing assets, orderly carrying out asset securitization business, clearing and integrating debts, optimizing industrial layout structure, etc., we can provide sustainable endogenous capital for enterprise development and optimize debt structure.
Sixth, promote enterprise merger and reorganization. Increase the restructuring of state-owned enterprises in industries with low industrial concentration and prominent homogeneous competition, improve industrial concentration, promote large-scale and intensive operation, and improve the return on capital.
Seventh, implement enterprise bankruptcy according to law. Insolvency liquidation shall be carried out for enterprises that have no hope of making up losses and have lost development prospects. Debt restructuring shall be carried out for enterprises that meet bankruptcy conditions but still have development prospects to resolutely prevent risk accumulation.
Eighth, strengthen the punishment of enterprise dishonesty. For enterprises that falsely report assets, conceal debts, and distort financial information, relevant responsible persons shall be seriously investigated for responsibility according to laws and regulations, and punishment shall be intensified. The opinion of this article only represents the author himself. If the source of the article is a network reprint, this website is an information publishing platform. If there is infringement, please contact this website to delete it in time.
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