**10,000 Fans Incentive Plan
In 2024, there will be a policy nuclear bomb that will just be implemented, that is, the "Measures for the Management of Key Provincial Classification and Strengthening Investment Projects (Trial)".
This approach requires 12 provinces, such as Guizhou, Chongqing, and Inner Mongolia, to do their best to mitigate debt risks if they do not reduce their risks to below 50%.
Projects such as highways and shantytown redevelopment must be delayed or suspended.
In recent years, due to the local land sales income, it is not optimistic!
For example, there are 8 in 21 years7 trillion in revenue;It is almost decreasing at a rate of 1 trillion yuan per year, so if we continue to reduce infrastructure construction now, the old road of land finance will basically be narrowed.22 years reduced to 67 trillion;
Last year, there were only 58 trillion too.
In the past, as long as everyone talked about land finance, they felt that he had pushed up housing prices, so that everyone could not afford to buy houses and dare not have children.
But objectively speaking, land finance is indeed a double-edged sword, because land finance is also the core element of China's economic rise.
Why does China have the world's largest and most complete industrial chain?
Because China is the world's factory;
Why can China become the world's factory?
Because China has attracted a huge amount of foreign capital to open factories;
Why are foreign investors willing to come?
Not only because of the cheap labor cost, but also because we have a large number of educated people, water, electricity, roads, networks and other infrastructure are also good, and there is a complete set of raw material ** chain.
And all of these were piled up after spending a lot of money.
Land finance is a kind of listing financing in disguise, which provides a steady stream of cash flow for these infrastructure projects.
Every time a local government sells land, it is actually equivalent to issuing an additional new shares, packaging and dismantling these land assets into houses that ordinary people can buy.
Developers are equivalent to brokerages who help build and buy houses, and people buying new houses are like buying new stocks.
After the local government has raised funds, it will use the money to build roads, infrastructure, medical care, education, and so on.
If the city is developed, the housing price will be the best, which is actually equivalent to the stock price.
The common people are among them, and they can also share the dividends, even the price of the house he lives in is also rising.
Therefore, the house is really the best of both worlds for the common people and ** at a certain stage.
But now, the increase in housing prices far exceeds the growth rate of income, and the land finance is not working, what should we do?
One way to solve the problem is to move the local finance to the equity finance, because the local government has two money bags, one is the land and the other is the state-owned enterprise.
State-owned enterprises can make more money and dividends, and can also make up for the gap in land revenue; After the land finance fails, all localities strive to add new listed companies, and they all hope that more listed companies can make more money in their jurisdictions.
But now that A-shares are so bad, there are also reasons for IPO and refinancing, so in the future, they will have to come to the best finance, and all over the country will come to draw blood, so can these A-shares still be invested?
Can it still go up?
This concern is indeed good and right, but there is a solution
First, it is possible to limit the number of central state-owned enterprises listed each year.
Then let the central state-owned enterprises that have been listed optimize and reform the equity structure, adjust the management model, and accept the supervision of all shareholders.
As long as the efficiency and profits of the central state-owned enterprises are improved, dividends can be increased, and dividends and profits can be raised, which should be the core of equity finance.
Instead of always thinking about making money by financing and selling **, this is not a long-term solution after all.
Second, carry out the market value management of central state-owned enterprises, so that the stock price is linked to the assessment performance of the top leaders of central state-owned enterprises.
You see, in 2024, the State-owned Assets Supervision and Administration Commission (SASAC) has first comprehensively promoted market value management from central enterprises.
As long as the leaders of the central state-owned enterprises are concerned about their company's stock price, if the stock price can rise, everyone will not worry too much about whether such a company will come to draw blood.
Third, in addition to the rise in stock prices, it is also necessary to encourage central state-owned enterprises to pay dividends and repurchases, and directly give money back to small and medium-sized investors.
Then this is a blood transfusion to **! Instead of having blood drawn.
You can look at those companies with long-term high dividends, and the A-shares have fallen to more than 2,600 points, and many of them are still at record highs.
Judging from the data, as long as the central state-owned enterprises give stable dividends, they can really make up for a certain amount of fiscal revenue.
For example, in 2022, the total assets of state-owned enterprises in the country will be as high as 3395 trillion, according to the average profit margin of 5%, that is close to 17 trillion profits.
Therefore, as long as the central state-owned enterprises can insist on high dividends, and then remove the part distributed by ** friends, it should be no problem for the treasury to still earn trillions.
Fourth, the road of equity finance has actually been verified by other countries and is feasible.
For example, in Singapore, Singapore's ** revenue in 2018 was S$90.1 billion, and ** investment income was as high as 16.4 billion, accounting for 18% of the total income.
On the other hand, in Hong Kong, the largest producer of China's land finance, the income related to land sales in 2018 accounted for about 15% of the ** income, and the proportion of these two pieces is basically the same.
Therefore, it is also feasible for central state-owned enterprises to make money through smart investment.
In recent years, the investment in strategic emerging industries has accounted for more than 20% of the total scale of investment by central state-owned enterprises, and it is still increasing year by year.
Therefore, the registration system is actually paving the way for equity finance, after all, land finance is becoming more and more difficult to play, and equity finance will naturally have to be issued.
Starting from 2024, the central enterprises will officially implement the market value management assessment first, and will the local authorities follow suit?
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