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Volume 1 The Miracle on Qishan Chapter 157 The Tragedy and Comedy of 1993

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    Chapter 157 The tragedy and comedy of 1993

    157

    Thinking that he was about to leave Qishan and Zhongqi Company, Yang Shaozong felt a lot of reluctance and worry in his heart, but he knew that he had to put it all aside and move forward.

    Qishan People¡¯s Commune needs to solve some problems on its own, and the same goes for Zhongqi Company.

    During the great expansion from 1991 to 1992, Zhongqi Company expanded very rapidly on the surface, but this expansion was actually very cunning. In the process of merging state-owned enterprises, Zhongqi Company almost only chose state-owned enterprises with excellent assets.  For key enterprises, for these seemingly loss-making enterprises, Zhongqi Company simply cleared their debts, cut off some of the burdensome assets and personnel, freed them from the rigid constraints of the state-owned mechanism, increased the income and incentive distribution of corporate management, and introduced  Responsibility management system provides systematic training to corporate management.

    In fact, Zhongqi¡¯s reform of these acquired companies is only at a very low level and has not gone deep.

    Take Ningzhou Cement Plant as an example. It has total assets of about 30 million, liabilities of 17.4 million, a loss of 4.83 million in 1991, and a total of 4,722 employees, of which 33% are employees in the tertiary industry. Zhongqi Company has less than 1,000 employees.  After the merger with a price of 10,000 yuan, all its debts were cut off and borne by the Ningzhou Branch of Zhongqi Company. Then a three-month training and rectification was carried out for managers and employees, and the tertiary industry employees were diverted. Through the cooperation with the Ningzhou Municipal Party Committee  The agreement will buy out the burden of retired employees in one lump sum and include them in the city's retirement fund, reducing the total number of employees to 1,558.

    On this basis, Zhongqi Company continued to invest 6.5 million yuan in renovation funds for Ningzhou Cement Plant, increased the basic salary and incentive allocation of corporate managers, and signed an executive stock allotment that may take five to ten years to be realized.  Preliminary Agreement.

    Zhongqi Company itself does not really intervene in the management of the enterprise. After the three-month rectification and trusteeship is completed, it usually only dispatches a supervisory director to maintain the original training and responsibility management work for a long time. Other normal operations are still carried out by the original factory.  The business management personnel are responsible.

    As far as the entire cement industry is concerned, Zhongqi Company has merged a total of 17 state-owned medium and large cement plants, and only dispatched a total of more than 20 people to supervise asset operations. It has not carried out more in-depth reforms, as long as it ensures that these enterprises no longer lose money.  But, this is the bottom line of Zhongqi Company.

    With the subsequent operation, Zhongqi Company will continue to recruit managers with good performance from these cement plants. The director of whichever plant has the best efficiency can be promoted and responsible for the operation of the entire Conch Cement Group. Through internal  This method of adjustment has gradually completed the integration of the entire cement industry.

    In fact, Zhongqi Company used loans in exchange for time and divested the debts and non-performing assets of the merged companies to the parent company, allowing the following companies to go into battle lightly and quickly turn around the situation. Zhongqi Company relied on agreements with municipal committees at all levels to continuously  Take out new loans to maintain the situation.

    This mode of operation is the main reason why Zhongqi Company can merge enterprises on a large scale and change the situation as soon as possible. However, the negative factors of this mode of operation are also obvious, because it uses loans in exchange for time. Although the merged enterprises are operating smoothly  It is starting to get on the right track, but the debt crisis borne by Zhongqi's parent company itself is very serious.

    Zhongqi's own capital and debt pressure is very high. If it weren't for the windfall that it made by reselling copper and aluminum in 1992, and the fact that it also made a lot of money by reselling land in the South China Sea, it would be difficult for Zhongqi to support such a large enterprise.  Pressure, even so, in the following years, Zhongqi Company will need to gradually adjust and slowly digest the existing debt pressure.

    If the central bank adopts financial tightening policies, the pressure on Zhongqi will increase significantly.

    Therefore, from 1993 to 1994, Zhongqi must adopt a more cautious merger strategy, reduce the number of mergers, and list some high-quality assets as soon as possible to alleviate debt pressure.

    This is Yang Shaozong¡¯s current concern about Zhongqi Company. He is fortunate that the management team of Zhongqi Company is relatively sober and everyone can still support it.

    In the early morning of the next day, Yang Shaozong took a transfer flight arranged by Southwest Airlines and flew back to Ningzhou. After returning to Qishan, he attended the closing ceremony with Chen Guangming, deputy director of the National Development and Reform Commission, and arranged for Chen Guangming to speak through temporary adjustments of the executive committee.

    In this one-year barometer and window for China¡¯s economic policies, Chen Guangming unexpectedly suddenly proposed that China¡¯s economy is at risk of a hard landing and that fine-tuning of the national macroeconomics will be implemented within the year to reduce inflationary pressure.

    Such a speech surprised everyone who attended the meeting. People finally realized that 1993 would be a year of sharp tightening of central macroeconomic control.

    Regarding this point, at Zhongqi Company at the end of 1992, everyone had this speculation in an internal meeting. Hu Zuming and Qian Jiawei both suggested rapid tightening of the real estate industry, especially in the Nanhai Special Economic Zone.??There was no rush because he believed that Ji Changyu and Guo Youbin did not fully expect the impact of this incident. These people's understanding of Qishan was still slightly limited and they were too superstitious about the power in their hands.

    In 1993, China was irritable and chaotic. A man named Shen Taifu started an illegal fund-raising case in the north, involving a scale of 1 billion. An old woman who was more powerful than him racked up more than 3 billion in Jiangdong Province.  A large-scale illegal fund-raising case, this case finally brought down the capital municipal party committee secretary.

    Especially for the latter case, the Central Commission for Discipline Inspection sent a team of more than 1,500 people to Jiangdong Province to investigate and handle the case, because it involved many officials at the provincial and ministerial levels. In order to investigate the case at that time, Liu, the Standing Committee Member of the Central Commission for Discipline Inspection who was in charge of the case, transferred his  The grandson was sent to study there, hoping to inspire everyone not to be afraid and to investigate firmly.

    As a result, the son of Liu, a member of the Standing Committee of the Central Commission for Discipline Inspection, who happened to be seeing a doctor in the hospital, was killed first, followed by a deputy director of the Provincial Commission for Discipline Inspection.  Died in a hotel room.

    These were all concealed later. In fact, the Central Commission for Discipline Inspection and the Provincial Commission for Discipline Inspection killed many people during this investigation.

    At this stage, Yang Shaozong, who was working in the General Office of the State Council, was very well-informed about the news. He had already predicted the other case. The village party secretary of Fushan Village, Mr. Yu, was finally arrested. His arrest was the second.  , the key is that under the watchful eye of Yang Shaozong, Fushan Village was promoted from a village to a town, and the assets originally owned by the villagers' collective suddenly became the assets of the township enterprise, and the town began to be responsible for selling and transferring them.

    Due to the special situation of Fushan Town, the Economic Affairs Office of the State Council appointed Yang Shaozong, who was experienced in this area, as an economic expert to arrive in Weizhou City to participate in the asset disposal of the entire Fushan Town. Under his operation, the collective of Fushan Town was finally  The company was sold out at a price of 120 million yuan, and of the 120 million yuan purchase price, the town government accounted for 50%, and the remaining more than 6,000 former Fushan villagers shared the remaining 30%, with only 20% continuing  It is retained in Fushan collective enterprises in the form of collective equity.

    The final winning bidder was Qigang Group, a subsidiary of Zhongqi Asset Management Company. Taking advantage of this opportunity, Yang Shaozong also had a private meeting with Guan Jinsheng, who was qualified to participate in the bid.

    When dealing with the situation in Fushan Town, Yang Shaozong was also testing the response of the entire government to this matter. There is no doubt that in this special chaotic stage, people still have not made a clear understanding of the gap between fund-raising enterprises and state-owned enterprises.  The idea that everything is divided into countries is still firmly rooted in the hearts of many leaders.

    Even if many leaders know it well, considering the scale and actual benefits of Qishan's assets, they will still be selectively blind and let Ji Changyu and others operate.

    If it succeeds, Ji Changyu will have merit, if it fails, Ji Changyu will bear all the responsibilities.
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