If necessary, take support of financial discounts for large-scale backbone enterprises
"In order to guard against the funding fractures of large-scale backbone enterprises, relevant parties have decided that they can take the support of financial discounts if necessary." Authorities recently disclosed the news to reporters. He also stated that the state will provide support for project approval, land, credit, taxation, corporate bond issuance, etc. for cross-regional, cross-sector mergers and reorganizations.
Shanghai Securities Journal reported on the 22nd that the person pointed out that the principles of the current industrial revitalization policy include five aspects, namely, coping with the crisis and revitalizing the industry; both controlling total volume and optimizing the layout; combining both independent innovation and technological transformation; joint reorganization and system. Innovative considerations; domestic demand and global configuration take into account.
“For enterprises, we should pay attention to the influence of the government’s differentiated financial policies.†According to the person in charge, the state will increase financial support for major key enterprises and implement projects and enterprises that meet environmental protection laws, land laws, and investment management regulations. For mergers and acquisitions, restructuring, going out, and technological advancement projects, financing support will be given in terms of issuance of stocks, absorption of private equity investment, issuance of corporate bonds, corporate bonds, medium-term notes, short-term financing bonds, and bank loans.
He also disclosed that in order to prevent funds from being cracked by large-scale backbone enterprises, the state can, when necessary, study the use of bank loans to provide discounted financial support. This will not only solve the liquidity difficulties of large-scale enterprises, but also avoid the losses caused by the corrosion of petroleum products, and make up for the current pull. The domestic demand policy has benefited the inadequate measures of large enterprises.
“In addition, the state also encourages competitive enterprises to merge and reconcile backward companies; encourages strong companies to join forces; encourages affiliates and upstream and downstream companies to join forces. In particular, the state will grant project approval, land, and Credit, taxation, corporate bond issuance and other aspects of support." The source said.
He also said that in terms of technological transformation, due to higher and higher requirements for energy saving and consumption reduction of product installations, the transformation efforts will increase, and domestic petrochemical companies will therefore experience a test of survival of the fittest. Industrial upgrading (high-tech content, high added value, low energy consumption, and low pollution) will become the focus of development.
Finally, regarding the direction of industrialization in the petrochemical industry, the source stated that “China will build more world-scale oil refinery-ethylene-aromatic hydrocarbons upstream and downstream integrated industrial bases during the “Twelfth Five-Year Plan†period, so that refined oil and petrochemical products The scale and utilization of various distillate oil resources are more reasonable; the further extension of the industrial chain, the application of new technologies and multi-species solutions will become the highlights of the industry, and the construction of bases, scales and integration will become the theme of industry development. The comprehensive competitiveness will be further improved."