Chapter 5 Turning the tide in the "tide of loss of state assets"

In 1995, China started to fight against corruption.At this time, Pan Yue was already the deputy director of the State Assets Administration.He presided over several meetings in a row, calling for the investigation and handling of major state-owned assets cases across the country, and the elimination of corruption in the government and business circles.According to a survey of 30,000 joint ventures conducted by the State-owned Assets Administration Bureau in 1995, it was found that in the process of Sino-foreign joint ventures, 80% of the Chinese enterprises lost about 90% of their due equity, resulting in a loss of nearly 10 billion yuan in state-owned assets.Pan Yue organized manpower to conduct a detailed investigation and statistics on the loss of state-owned assets across the country, wrote a report on the situation and proposed solutions, and reported it to the Political Bureau and Secretariat of the CPC Central Committee, which was recognized by the highest level.During that year, Jiang Zemin, Li Peng, and Zhu Rongji made speeches emphasizing on stopping the loss of state-owned assets on various occasions, all of which were based on the report materials provided by Pan Yue and others.

According to the analysis of Pan Yue and others, although there are thousands of channels for the loss of state-owned assets, the most dangerous and serious one is the outflow of funds. It is particularly worth pointing out that Pan Yue and others were fully exposed 8 years ago. Pointing out this huge drawback, the severity of the problem and the difficulty of dealing with it are beyond anyone's imagination.It is said that Pan Yue once sighed with emotion: If our hard work can achieve the goal of "not being an example", it will be considered a success. It can be said that all of Pan Yue's work in the State-owned Assets Supervision and Administration Commission is to explore an effective state-owned assets management method. In order to "make an example", Pan Yue is almost exhausted.

During his tenure as the deputy director of the State-owned Assets Administration Bureau, Pan Yue directly led the establishment of a state-owned assets publicity and education system; strengthened the research on overseas state-owned assets; The industry management of the industry has accelerated the legal system construction of the asset evaluation industry; the research on the academic theory of state-owned assets has been promoted; the "China Assets News" has been founded, which has promoted the development of the state-owned assets news and publication field, and so on.His work has been well received by the public and has gained high prestige in the state-owned assets management system.

During this period, Pan Yue used four heavy blows in order to prevent the beginning of the loss of state assets: One is to conduct a comprehensive inventory of the status quo of overseas state-owned assets. In November 1994, Pan Yue hosted the International Symposium on "Management of State-owned Assets of Chinese Overseas Enterprises". This was the first seminar on this topic held in China, and more than 100 experts and scholars from home and abroad participated.At the meeting, the problems and countermeasures in the management of overseas state-owned assets at that time were discussed, which laid the foundation for China to strengthen the management of state-owned assets of overseas enterprises.The media at home and abroad have paid attention to this, and the academic achievements have been edited into the book "Exploration of State-owned Assets Management of Chinese Overseas Enterprises" and published.

In order to understand the situation of overseas state-owned enterprises as soon as possible, from October 1994 to September 1997, Pan Yue led people to conduct systematic and comprehensive research on the current situation and development trend of overseas state-owned enterprises. Report.These reports have been highly valued by relevant ministries and commissions, and have become an important basis for research and formulation of relevant policies. Second, conduct in-depth research on major issues in the management of state-owned assets. From 1996 to the first half of 1997, Pan Yue organized and carried out many major research projects.For example, "Research on the Reform of the State-owned Assets Supervision System" has positive significance for the reform of the state-owned assets system and its future development; ", put forward all-round thinking on the reform of state-owned assets; "China's large group development strategy", discusses international competition issues, and conducts theoretical exploration for the realization of China's future development strategy.

Research topics that attracted attention at the time included "Establishment of State-owned Assets Management, Supervision, and Operation System", "State-owned Assets Management of Public Institutions and Enterprises", "Approaches and Methods for Implementing the Strategy of State-owned Enterprises Grasping the Big and Letting Down the Small", "In the State-owned Assets Management of the relationship between the central and local governments", etc.These topics have carried out unprecedented explorations on the microcosmic operation of the macro-decision-making of state-owned assets management.

Third, standardize the state-owned assets evaluation system. In 1996, in response to the extremely chaotic situation in my country's asset evaluation industry at that time, under the strong advocacy and leadership of Pan Yue, the State-owned Assets Supervision and Administration Commission formulated the "Expert Review System" and "Project Registration System" to strengthen the construction of the management system for state-owned assets project approval; rectify assets Appraisal institutions, implement the management of registered appraisers and the industry access management of overseas institutions; strengthen the management of asset evaluation of pre-listed companies.It was also thanks to Pan Yue's efforts that the International Evaluation Standards Committee decided to hold the 1999 International Evaluation Standards Annual Conference in China. In September 1995, Pan Yue hosted China's first large-scale "Top 500 State-owned Enterprises" enterprise evaluation event, which lasted for two months and was named "China's Backbone" publicity month.Its evaluation results and standards are still used by many departments and enterprises.

Fourth, people-oriented, strengthen contacts and exchanges with state-owned entrepreneurs. In order to further explore state-owned assets management methods, understand entrepreneurs' ideological dynamics, and exchange state-owned assets management information, in May 1995, Pan Yue became the chairman of the China State-owned Assets Youth President Committee.The China State-owned Youth Presidents Committee has 530 heads of large state-owned enterprises.A series of activities hosted by Pan Yue won the praise of entrepreneurs.For example, the leaders of the State Council’s finance, taxation, finance, economic and trade ministries and commissions were invited to have direct dialogues with the heads of more than 100 large enterprises on a series of difficult issues in the reform of state-owned enterprises, which were well received by enterprises and relevant ministries and commissions. Dialogue with relevant government departments”, all participating enterprises had a dialogue on the problems existing in the operation of state shares and state-owned legal person shares of listed companies, and how to maintain and increase the value of state shares and legal person shares; held a “policy seminar for some Sino-foreign joint venture retail business enterprises” , the heads of the Ministry of Internal Trade, the Ministry of Foreign Trade and Economic Cooperation, the Planning Commission, the Economic and Trade Commission and other ministries and commissions held dialogues on policy issues for the further development of joint venture commercial enterprises, which was welcomed by enterprises.etc.These dialogues were welcomed by relevant ministries and enterprises, and became an important window for relevant state departments to directly understand state-owned assets management issues and formulate relevant policies.

However, the state-owned assets crisis was not formed in one day. The state-owned assets problem in the mid-to-late 1990s is a long-standing problem of China's system.Even though Pan Yue tried his best, he couldn't break through the system's difficulties.Compared with the intensified behavior of state-owned assets at that time, there is a somewhat tragic feeling of "doing everything possible", which inevitably makes people feel a Don Quixote-like emotion.A commentary in Taiwan's "Business Weekly" on July 22, 1996 said: "Pan Yue, with his tough attitude of 'never relent', launched repeated offensives against the frequent division of state-owned assets in recent years, leaving the outside world with a 'no mercy' attitude." The impression of Qingliu. Pan Yue’s move is a concentrated expression of the concept of "national supremacy" advocated by the "fourth generation."

Due to too many interest factors involved, the state-owned assets management method has not yet been fully formed, and the State-owned Assets Supervision and Administration Bureau was abolished amidst controversy, leaving a place where the State-owned Assets Supervision and Administration Commission (department) without a central-level competent department is struggling.Fortunately, after the 16th National Congress of the Communist Party of China, the Central Committee established the State Assets Management and Supervision Committee.However, at this time, Pan Yue had already left the field of state-owned assets management where he had worked so hard, and went to work in the State Environmental Protection Administration through the State Council System Reform Office.