Zombie companies China reported about 7 5 collusion between Government and enterprises

Chinese zombie companies how much?

July 27, people University national development and strategy research hospital anti-corruption and new Economics Research Center released of name for China zombie enterprise research report--status, and reasons and countermeasures report to out has answers: 2005-2013, China industrial sector of zombie Enterprise proportion about for 7.51%, points industry view, zombie Enterprise proportion highest of five a industry respectively is steel, and real estate, and building decorative, and commercial trade and integrated class, Bank, and media, and non-silver financial, and Computers and leisure service industries account for more than the minimum.

Report noted that zombie companies concentrated in the Southwest, Northwest and Northeast, and zombie companies significantly higher than that of private enterprises in State-owned enterprises, at 13%, which is only 7%.

The so-called zombie companies, refers to the number of indebted enterprises, although they can generate cash, but after deduction of operational costs and fixed costs, only interest payments on loans, while unable to repay the loan principal. In other words, such companies should have been killed, but depend on Government subsidies or bank loans to eke out a living and cannot be revitalized.

Zombies are caused by overcapacity, high inventory, leverage is too high for important reasons. Supply side structural reform is economic reform and macro-control of the strategically important and the main handle, the key supply side reform, is accelerating the Elimination of zombie companies.

Central Government in the past two years has been asked many times, "zombie companies". In March 2015, Li at the State administration for industry and Commerce investigated and commercial reform, during which he told at the seminar held that "not only to lower the business threshold, so that enterprises ' raw ', and to avoid the formation of ' zombie ' businesses."

A State Council Executive meeting, held November 4, 2015 is clear, to accelerate the "zombie companies" reorganization and integration or exit the market. December 9 after a State Council Executive meeting on "zombie companies" made specific cleanup standards, continuing losses for more than 3 years and do not meet the structural reorientation of enterprises asset reorganization, property rights transfer, closure and bankruptcy be "cleared". Contrary to irrevocable commitments Faw do I need

Report of clean up zombie firms are given specific measures proposed to reduce government intervention in the assessment of State-owned enterprises, improve SASAC standards, strengthen budget hardening and other aspects.

Cause zombies five reasons, Government collusion at the top

Research Group of zombie companies made by the national people's Congress's research data from the 1998-2013 database of industrial enterprises in China, as well as the 1998-2015 database of listed companies.

For identification of the zombie companies, reported in the official standards and academic CHK standard was amended on the basis of the popular, that is, if an enterprise in the current and previous year is recognized as a zombie by FN-CHK enterprises (that is, business loan interest rate lower than the normal market minimum interest rate), then the company is in the year zombie companies.

Reports relative to the CHK standard, this method can be used to reduce the zombie companies identified in the process of "slip through" and reduce "friendly fire."

Report sorts out the five main factor leading to zombie companies, "collusion between Government and enterprises between the local government and enterprises" in first place.

Report notes that for performance and stability, local governments continue to brink of zombie companies for various forms of "blood transfusion", or zombie companies exerted pressure on employment and production expansion pressures, and then through subsidies and loans to maintain its situation. This isn't a zombie companies became "zombies", and is "zombie" companies are more difficult to clean up.

Research Group found that if a company won more subsidies, or more redundancy, or SOEs, becoming a higher probability of zombie companies.

Followed by "vicious competition between local governments and State-owned enterprises." As explained in the report, once the country's scope to include an industry focused on supporting local governments piled on to support the development of the industry, resulting in duplication and overcapacity. After a large number of zombie companies in the industry, local governments have provided preferential policies and subsidies to support local businesses, hopes his "support" to "crush" the rest of the enterprise. Many government policies encouraging mergers, "small", even in the sectoral aid directly provided relief only when a certain number of large enterprises, which directly caused the enterprise "racing to the big" prisoner's dilemma.

2008 4 trillion economic stimulus is the third leading cause. Report displayed, 2008-2011, non-focus industry (as food manufacturing, and furniture manufacturing, and plastic products industry,) of zombie Enterprise proportion has been above focus industry (as coal mining and washing industry, and ferrous metal smelting and the pressure extended processing, and General equipment manufacturing,), and both Zhijian of gap basic keep stable; 2011 zhihou, both Zhijian of gap constantly narrowed, 2013 Shi focus industry of zombie Enterprise proportion fast rose, even above non-focus industry zombie Enterprise proportion.

Report says 4 trillion investment mainly to stimulate the industry in five years suffered a more serious crisis of zombie companies.

In addition to the above three factors, external demand shocks and credit discrimination also causes the zombies to the banks.

Reducing government intervention in the business

"To clean up zombie firms, promote the supply side of structural reforms, promote industrial restructuring and upgrading to achieve long-term and stable economic growth, it is necessary to remedy, and only under drastic cure ills. "The report said.

Five reasons for zombie companies, the report gives five specific strategies to reduce zombie companies.

First, reduce government intervention in the business, especially using industrial policy. Local Government to reduce intervention in the business, do not use administrative powers to promote the merger and reorganization of enterprises, enterprises in the area not subjected to employment beyond their affordability pressures and fiscal pressures, not to lack of efficiency, no hope of survival zombie companies provide a variety of subsidies and forced banks to make loans.

Second, perfect the index of State-owned assets supervision of State-owned enterprises, a comprehensive understanding of "stronger better and bigger State-owned enterprises." To be alert to the end result is the State-owned enterprises just "big" but not really "strong" and "excellent". If State-owned enterprises bigger and stronger is bound into capacity expansion of the prisoner's dilemma, will inevitably lead to more excess capacity, resulting in more zombies.

Third, strengthening the Bank's budget hardens. First, we must strengthen supervision of the banking system, the second is to reduce administrative intervention by the Bank in the local government area, through the development of related laws and regulations to ensure the relative independence of the banking system.

Finally, multi-channel solution in excess capacity, encourage enterprise mergers and acquisitions and restructuring triage, speed up the establishment and improvement of the social safety net. Can think of excess iron and steel, cement, glass and other infrastructure construction in poverty-stricken areas, or helping local government through the issuance of bonds by the Central Government to pay.

Finally, accelerate the pace of reform of State-owned enterprises, the key is the specific orientation of State-owned enterprises. Used to further reform State-owned enterprises, clear what kinds of State-owned enterprises have to bear political and social functions, what kind of State-owned enterprises are purely market-oriented enterprises. For the former, the number, treated as a special enterprise; for the latter, strengthening market-oriented appraisal, encourages stronger better.

Tefo female tour guides to stop male tourists queue to be played the police

Friends in the "Wuyi" post denouncing the perpetrators.

On July 24, in Fujian province, Wuyi Mountain scenic, girl guide Wang to stop a foreign male tourists queue to be played. The morning of 25th, Wuyishan City Public Security Bureau staff in response to the surging News (www.thepaper.CN), beating 9th male tourists were fined by the police detention, punishment of a fine of 500 Yuan.

The morning of 24th, a Netizen in the "Wuyi" post said that morning, female guide Wang to stop a male tourists forced to jump the queue, being beaten, led Wang was injured and in hospital. NET post said Wang beat visitors were not met, afterwards, beating visitors unapologetic attitude arrogant.

At this point, Wuyishan City Public Security Bureau official Micro-Blog @ peace Wuyi reported that July 24 10:40, King of girl guides take tourists in the scenic South line, find other tourists "stoppering", Wang stepped forward to negotiate strife and pushed tourists blue. At present, Wang has been accompanied by a friend in blue, went to Memorial Hospital for examination and treatment. Grasslands road Zhangjiakou Hebei cancellation

The morning of 25th, Wuyishan City Public Security Bureau said police have been involved in the investigation process, blue hit tourists sentenced to detention by the police a 9th, fined 500 Yuan penalty, the case is under further investigation.

Xinninganshan water tower collapse investigation in middle school in Hunan announced

On July 21, the upstream news-Chongqing morning news reporter was informed that on May 31, xinning, Hunan province, an Shan secondary school, a water tower collapse accident occurred, xinning County Government survey report released on July 20, the qualitative nature of the incident-for production safety accident, and 10 unit gave recommendations relating to liability and responsibility.

On May 31, the upstream news-Chongqing morning post correspondents in xinning County, Hunan province, an Shan secondary school, a water tower collapse accident occurred, caused 2 deaths and 4 injured (of which 1 seriously injured).

On June 3, the Education Bureau of Shaoyang city, Hunan province in xinning city's educational system was criticized in the education sector, noting that the County Education Department information late and delaying the report, such as an accident, resulting in information forcing, resulting in passive.

First time in more than a month later, on July 20, xinning, Shaoyang city, Hunan Government website about an Shan secondary school "5.31" Tower collapse accident investigation report.

Display the restore report after the accident happened, 17:30 P.M. May 31, 2016, an Shan secondary school students finished dinner, and accident tower adjacent to the number of students taking washing dishes. 17:51, tower north of the East wall to the North and West walls suddenly collapse, collapsing walls and water thrust, BEng flew separately to 3.8 m, 0.6 m from the water tower in border locations around will get 6 students fell. 1 of them was killed, 1 seriously injured people died in hospital, 4 people were injured.

Injured student Wang for the first time was sent to xinning County people's Hospital, consultation of all experts of the hospital first aid, and invited two experts rushed to the Central Hospital in Shaoyang sunning support rescue, but due to his injuries, on June 1, 2016 2:30 A.M., died.

Another injured student who suffers serious leg injury, was implemented in Shaoyang city hospital following lower amputation of left ankle. Other injured students at the hospital received proper treatment.

Report says emergency water tower was built in September 2008, financed independently by an Shan secondary school, temporary farmers ' labor is not material surrounding the building.

Accident directly due to a water tower wall in the ultimate limit State for a long time, with the passage of time, the strength of masonry materials and eventually brittle failure is the direct cause of the accident. Intracranial hemorrhage in Chongqing 9 year old

Indirect causes including the water tower of a design and construction standard school security troubleshooting, weak governance related regulatory monitoring is inadequate.

Investigation report with the characterization of the nature of the accident as non-production safety accident, gives recommendations on 7 of the school staff, and relevant departments responsible for dealing with recommendations 3. Xinning and recommended to entrust the mountain village, xinning County people's Government to the people's Government of deep inspection, and xinning County people's Government made to the people's Government of Shaoyang city deep examination.

Said in a report last precaution, an Shan secondary school to strengthen school security troubleshooting management xinning BASE to strengthen construction project management of all schools throughout the County; xinning County Government to further strengthen campus security, establishing and perfecting the security mechanism.

Death of former Governor of Anhui Province Wang Yuzhao once known as the vanguard

Wang Yuzhao. Information chart

Journalists surging from the Department and the development research center of the State Council Wang Yuzhao relatives and friends official informed that the development research center of the State Council, Deputy Director, former Deputy Director of the Research Office of the CPC Central Committee policy, former Governor of Anhui Province Wang Yuzhao, passed away because of illness in Beijing on July 16, 2016 1:55 A.M., at the age of 90.

Public resume showed that Wang Yuzhao Wenden County Shandong province, was born in February 1926 in Bo town pool, water park village in 1941, joined the revolution, served as Tian Fu Shan area of Wenden County culture and education Assistant, district teachers or anti-Japanese Association, among other roles.

In early 1948, Wang Yuzhao advance column is indexed in the PLA's East China field army, participated in the liberation of Kaifeng, Eastern Henan, Huaihai, and crossing the battle. After 1949, Wang Yuzhao's military Council Department of culture and education, Wuhu has served as military representative, Deputy Secretary-General of the science and Technology Commission of Anhui Province, Hefei Normal University Associate Dean positions.

The "cultural revolution" period, Wang Yuzhao family was sent to Huaibei, with farmers to establish a deeper relationship, in rural areas more in-depth understanding. The "cultural revolution", the Wang Yuzhao successively served as chuxiandiqu Revolutionary Committee Director, Deputy Secretary of the Committee, Secretary of the prefectural, Xiao gang team pioneered the "all-round contract system", opened the prelude of rural reform in China.

In further stable perfect household contract responsibility system of based Shang, Wang Yuzhao more early to proposed has households do, and lianhu do, and village do, and Xiang (town) do of four round drive approach, stressed caught "three designed" (specialist, and villages, and professional economic community), and "two factory" (family factory, and lianhu factory), put development township enterprises rooted Yu farmers masses of family business among, put households as development township enterprises of power source.

After leaving the chuxian, Wang Yuzhao, in 1982 as the Standing Committee of the CPC Anhui Provincial Committee. In March 1983, Wang Yuzhao was promoted to Deputy Secretary of the provincial party Committee, ciyue as Governor of Anhui.

In June 1987, in Anhui Province, Wang Yuzhao left for many years, transfer to rural policy research Office of CPC, the CPC Central Committee policy research Office Deputy Director. In March 1990, Wang Yuzhao co-opted for the last session of the Standing Committee of the CPPCC. In May 1990, Wang Yuzhao transferred to the Deputy Director of the development research center of the State Council, and party member. In March 1993, Wang Yuzhao elected to the VIII session of the Standing Committee of the CPPCC. In May 1993, Deputy Director of the Economic Committee of the CPPCC. Since then, Wang Yuzhao served as third President of the China Foundation for poverty alleviation, and later served as the Honorary President of the Foundation.

In addition, Wang Yuzhao is the 12th Central Committee. 7600 contracted 40 acres of forest land villagers

Wang Yuzhao concerned about rural issues for a long time. Anhui channel in 2008, Xinhua report refers to him as "the vanguard of the rural reform".

Xinhua Anhui channel reports mentioned above, since in the 1970 of the 20th century the rural reform of rural tax and fee reform in the new century, Wang Yuzhao heavyweights are not to be ignored.

Late 1970 's, Wang Yuzhao is chuxian in Anhui prefectural, he implemented when he was first Secretary of the CPC Anhui Provincial Committee, supported by thousands of miles of agricultural household contract to support conservation of Xiaogang village, fengyang County "all-round contract system".

After 20 years, in order to advance the tax reform as an opportunity of the third revolution in the countryside, Wang Yuzhao, as member of the National Committee, Economic Committee Deputy Director who led the 8-bit old Minister of taxation reform pilot area was investigations, 1996 wrote on practical proposals for solving the problem of farmers ' burden, get attention and made important instructions of central leadership.

Shandong man in hungry after ordering give foul bad reviews merchant site both

Jinan Mr Yue said, because of a bad review, Takeaway owner two days later according to delivery address holding the chopper door will be cut. Guangzhou military do 4 operations even after

Because of my bad review, Takeaway owner two days later according to delivery address holding the chopper door be cut, resulting in thumb, index finger, clavicle, temples were injured altogether 19 stitches. On July 12, friends @ Wu Zhiya talk released a Twitter Topic # hungry knife-wielding home #, tell your take-out experience. On July 13, Jinan lixia Branch Office of the advocacy section City Public Security Bureau told a surging News (www.thepaper.CN), currently is investigating the handling of the case.

On July 13, the party surging Yue told the news, June 23, at 9 in the morning, on the hungry, he "Marriott donkey meat" booked a takeaway shop, distance of less than 300 meters, it took 62 minutes to take, he was very angry, and then left a bad review of a tone with Detroit.

July 13, hungry has you online set meal through its official micro-Bo @ hungry has you online set meal released on Jinan user and businesses occurred injury people disputes of situation description said, June 23, Jinan user @ Wu Zhiya cut big flickers through hungry has you APP in "million Howe donkey meat fire" restaurant set meal, due to on 62 minutes of sent meal time not satisfaction, give restaurant poor assessment, and in comments in the using has "x you MOM", insults speech. The night of June 25, business site and its theory, both a physical confrontation occurred at corridor.

Note, during conflicts, users reported the case to local police, due to the lack of video evidence, according to testimony, police initially characterized the case as a fight. The next hungry customer service feedback to the user events, hungry attention further pending the conclusion of the police, first line of the business online payment function, cancel its eligibility to participate in online promotions, promised if businesses cut case, businesses will be punished, and will actively assist the user follow compensation issues.

Mr Yue said "hungry" in online payment function of the closed shop and reopen in less than a week until July 12, the stores have been operating normally.

Mr Yue told the surging news, and "hungry" the communication process and require stores to make processed more than once, "hungry" customer service call back saying "the matter has been upgraded, please be patient."

Description, user Yue raised business criminal accountability, and 50,000 yuan claims to the business, because the user back home out of business travel, businesses and other reasons, coordination of half a month. On July 11, injury identification are minor injuries, did not constitute a criminal case, the nature of the cases for assault, user claims are not met, a proposal to engage in mediation.

Hungry based on the platform of the code for business irregularities, merchant made off the punishment, and that allow compensation for the user, committed within 48 hours to the user feedback. But 12th in the micro-blog posted "hungry for the business-backed", "hungry negative" seriously inconsistent with the facts, and use the "hungry knives door-to-door" Twitter topic in such a distortion of the facts.

Hungry statement for this event made up spreading false information harmful acts of goodwill such as malicious slander, hungry legal has forensics and infringement liability through legal channels.

Spontaneous combustion of 5000 ton freighter in Dongting Lake 3 armed police

Armed police officers evacuated flammable liquids. This pictures are network of Yueyang A junior high school student committed suicide

The morning of July 9, moored in West Dongting Lake 5000-ton cargo ship in the Gulf of a sudden spontaneous combustion. Following the discovery of dangerous situations, rapid boat Brigade of Yueyang detachment of armed police officers and soldiers to rescue, the fire was soon brought under control.

Around 9 o'clock in the morning, parked in West Dongting Lake a 5000-ton cargo ship in the Gulf of a sudden blaze, burst into flames, accompanied by bursts of smoke. Nearby boat Brigade soldiers of armed police detachment to perform tasks after seeing the Fireworks, immediately went to the blaze. Soldiers first used water cannons to fire is suppressed, planned after the fire was under control, sent a search and rescue crew aboard was trapped.

Soldiers used water cannon fire was suppressed.

In the course of fire officers and men, who has escaped from the cabin on the ship, officers and soldiers then be properly rehoused. After the fire was brought under control, search and rescue trapped officers and men on board. In the ship's cabin, soldiers found 3 gas tanks, and smelled the acrid smell of liquefied petroleum gas. At this point, armed police officers and ship personnel is very dangerous. Faced with such a critical situation, soldiers and disregard for personal safety, use a water cannon to cool the cabin, then rushed into the cabin, gas cylinder valve closed, then 3 gas tanks carried out.

This is the ship came from Anhui, because Dongting Lake flood, temporarily parked in these waters. After the accident, due to the armed police officers of Yueyang diving, fire was quickly put out, then parked freighters were led to safety. Armed police detachment Captain boat Brigade of Yueyang Wang Yehu: "search and rescue personnel after the proportion of soldiers with fire extinguishers fire-fighting, some soldiers used water cannons to hold fire. After more than an hour of repression, the fire was brought under control. "

According to the actual situation, most likely heat-related line of spontaneous combustion caused by fire. Under the influence of high lake water levels in Dongting Lake and channel line-ban, many loaded with sand, sand-dredging ship docked as a townhouse in designated areas around Dongting Lake, in case of a fire, most likely caused a chain reaction of ship to ship. Reminds the maritime sector, Lake region now in control during the ship in China should strengthen the management of equipment maintenance and safety.

Long of Hunan Hengyang Public Security Bureau Deputy detachment is accused of

Users @ RI post reported "Hengyang Public Security Bureau economic investigation team Deputy captains Gui Jinsong cars for private purposes for over two years and was the eventual, fine", on July 6, the publicity Bureau, Public Security Bureau officials in Hengyang City, Hunan province, in response to the surging News (www.thepaper.CN), said the Bureau Chief has instructed the Inspector team to investigate.

Vehicle violation records.

On July 5, user @ RI post reported, Hengyang Public Security Bureau economic investigation team Deputy captains Gui Jinsong grabbed "Xiang-d · K3023 "cars for private purposes more than two years," subordinate, not hesitating to say. "

The Internet post says, Gui Jinsong often drive "Xiang d · K3023, "bus in the district, Hengyang City charge about furiously, retrograde, running red lights, not required lane and other illegal activities. During the national day 2013, Gui Jinsong yizhang mangshan, CHENZHOU, driving this bus going to play eventual by Yi feng high-speed electronic police for speeding in 2014, during the national day holiday, Qiyang County, Yongzhou city, he drove the car to the home visit, also due to speeding in Qiyang electronic police copied card. Hunan provincial Department of public security traffic police corps and the Hunan daily newspaper group joint "safe online" website, in the home of two years, were copied by electronic police 33 times (not yet processed), fine 3220, and 66 points.

Basic information about the car.

News found on the vehicle information system found that the surging, "Xiang d · K3023 "car brand as" sharp ", registered for the first time on September 27, 2013, owner of Hengyang Public Security Bureau. From September 25, 2014, the car insurance was terminated; September 30 last year, the car inspection expired. Vehicle status column displays "illegal pending, overdue test".

NET post mentioned above, Gui Jinsong for ease of use, never "Xiang d · K3023 "parking space for the car park to the Public Security Bureau in the garage, but parked near their Brocade Crown, Hengyang City Garden. Within a few days began on June 24, 2016, Gui Jinsong other public process used cars for private purposes. During this period, he repeatedly drove "Xiang d · K3023 "the bus going to the restaurants, clubs and other consumer.

The evening of July 2, the vehicle is docked at a tea house.

On July 5, the surging news get surveillance video from insider information, June 24, 2016 (Friday), "Xiang-d · K3023 "car docked Hengyang City Tianzhu roadside number hours; June 25 (Saturday) 14:19 points, a men driving the car carrying a women to a bank withdrawals, then, to a teahouse; June 26 (Sunday) 8:30 points, the car from Kam Crown garden out, went unknown, until June 28 (Tuesday) night, the car only returns Kam Crown garden; July 1 12:26 points, the car from Kam Crown garden to a teahouse, 14:01 points, Dock Brocade Crown garden Tianzhu road. Video display, from June 24 to July 2, "Xiang-d · K3023 "car has eight there are restaurants nearby, or out of, driving for the same man.

News the video gives the surging Hengyang Public Security Bureau two staff members to identify, both driving video "Xiang d · K3023 "car men indeed Gui Jinsong, their identities for Hengyang Public Security Bureau economic investigation detachment Deputy Team longer. Media another intern said were alleged seduction

Report such Internet post contents, publicity Bureau, Public Security Bureau officials in Hengyang City surging news that, at present, head of the Bureau's main Internet post has been reporting instructions, require inspectors investigating team, "If the reports are true, not underlings, strict processing. "