On the 9th, Shanxi SDIC, Shaanxi Drum Group, MCC Jingcheng and Jianlong Group jointly initiated the establishment of Shanxi Iron and Steel Industry Structural Adjustment Fund. The purpose is to promote the stock revitalization and professional reorganization of steel and its upstream and downstream industries by means of equity cooperation and market operation, provide operational efficiency through technological and management innovation, and enhance market competitiveness. It is reported that the total size of the structural adjustment fund is expected to be 50 billion yuan, with the first phase of 5 billion yuan.
Zhang Zhixiang said that the establishment of Shanxi Iron and Steel Industry Structure Adjustment Fund is the third iron and steel industry structure adjustment fund in China after He Siyuan Iron and Steel Industry Structure Adjustment Fund initiated by Baowu and Great Wall River Iron and Steel Industry Development Fund initiated by Hebei Iron and Steel Group. This is also the first steel industry structural adjustment fund jointly sponsored by private and state-owned enterprises.
Wang Junbiao, chairman of Shanxi State-owned Capital Investment and Operation Co., Ltd. said that the structural adjustment fund will combine the layout of state-owned capital in steel and related industries, participate in the mixed reform of local state-owned enterprises, stimulate the vitality of market players, participate in the supply-side structural reform in Shanxi Province and other regions, promote the upgrading of traditional industries and the transformation of resource-based economy, and revitalize the shell resources of listed companies.
2065438+On April 7th, 2007, Baowu Group took the lead in setting up the first investment fund in China-He Siyuan Iron and Steel Industry Structure Adjustment Fund, and planned to raise 40 billion to 80 billion yuan.
Zhou Zhuping, chairman of Huabao Investment, said that the iron and steel industry fund will acquire the creditor's rights or equity in the upstream and downstream of the industrial chain, focus on obtaining corporate control, and conduct industry integration and mixed ownership investment. By improving corporate governance, optimizing asset structure and strengthening team motivation, the value-added of iron and steel core business will be realized, and finally the income will be withdrawn through listing and sale.