Workflow
杠杆化
icon
Search documents
一财社论:以包容的制度生态,护航国有“三资”改革
Di Yi Cai Jing· 2025-10-22 13:10
Core Viewpoint - The article emphasizes the importance of the principles of "assetization, securitization, and leveraging" in the management reform of state-owned assets, aiming to enhance the efficiency and effectiveness of state-owned resources [2][3][4]. Group 1: Principles of Reform - The three principles outlined are: maximizing the assetization of state-owned resources, securitization of state-owned assets, and leveraging of state-owned funds [2][3]. - The reform aims to revitalize idle and inefficiently used state-owned assets through various methods such as utilization, sale, rental, and financing [3][4]. Group 2: Economic Context - The current economic environment is characterized by a transition between old and new growth drivers, with local government finances being relatively tight [2][3]. - The reform is seen as a way to alleviate fiscal pressures while ensuring basic public services are maintained without imposing additional burdens on market entities [2][3]. Group 3: Market Mechanism - The article argues that the low efficiency of state-owned assets is fundamentally a mismatch between resources and governance systems, suggesting that market mechanisms are essential for accurately assessing the utility of these assets [4][5]. - By allowing state-owned assets to be sold or rented in a market context, their potential can be significantly unlocked [4][5]. Group 4: Implementation Challenges - Effective implementation of the reform requires not only a clear reform blueprint but also a conducive operational environment that encourages innovation and risk-taking [4][5][6]. - The article highlights the need for a supportive institutional ecosystem that allows reformers to operate freely and effectively manage state-owned assets [5][6].
重要表态,背后意味着什么?
大胡子说房· 2025-10-22 11:01
独到的财经观点,深度的金融分析,助你抓住最新财富机会,实现资产稳步增长! 10月16日,在湖北省的国有"三资"管理改革推进会上,部署安排了重点任务。 其中最重要的就是三句话: 一切国有资源尽可能资产化 一切国有资产尽可能证券化 以下文章来源于大胡子财研社 ,作者湾区区长 大胡子财研社 . 一切国有资金经可能杠杆化 这样的表态,在之前的会议中非常少见。 那所谓的国 有"三资"管理改革原则,到底是什么意思? 其实我在之前的文章中有说过,如果学术点说,就是国有资本的资产化、证券化和杠杆化。 通俗点说,就是 国家资本变为更加能被市场理解和估值的金融资产。 过去这40多年,我们是典型的产业资本国家,有强大的生产能力以及实体产业。 但是实体产业发展到一定阶段,一定会出现发展瓶颈。 因为市场上的产品多,而在产业资本强大的经济体中,重视资源利用和实体生产,重视产业利润而忽视分配,导致产品多但是公众的消费能力没有 跟上。 但是,要维持生产力,要维持经济的发展,就必须提升消费的水平。 那过去这些年我们是用什么方法增加消费,解决这个系统性问题的呢? 主要是通过 地租经济 。 也就是利用土地增值和房产增值,用 房地产的赚钱效益吸引大 ...