Policy sharply "cooling down"

"Guidance on Promoting Merger and Reorganization of Automobile Enterprises" is expected to be introduced later

The newly announced "Opinions of the State Council on Promoting Mergers and Acquisitions of Companies" named six industries and the automotive industry ranked first. According to the reporter's understanding, after the "Opinions", the implementation of the industry mergers and reorganization of the specific details of the rules - "to promote the merger and reorganization of automotive companies Guiding Opinions" is expected to come out.

Corporate mergers and reorganization warms up

Just as people in all walks of life are happy that China's auto production and sales are expected to exceed 16 million vehicles, the risk of overcapacity in the auto industry is also beginning to intensify. Coupled with the current situation of changing the degree of industrial concentration is not high, "merger and reorganization" will become the subject of the auto industry bigger and stronger, to go around the international market.

The reporter noticed that the newly announced "Opinions of the State Council on Promoting Enterprise Merger and Reorganization" mentioned in the industry that needs to implement the opinions of mergers and reorganizations, the automobile industry was first proposed. It is understood that the implementation of the specific details of the industry mergers and reorganizations - "to promote the merger and reorganization of automotive companies Guiding Opinions" is also expected to be introduced later.

In fact, as far back as the plans for the revitalization of the top ten industries, mergers and reorganizations in the automobile industry have already been expressed. Since the outbreak of the financial crisis, the thriving Chinese auto industry has set off a wave of mergers and reorganizations. The Chinese auto industry not only completed the merger and reorganization of GAC’s acquisitions of Changfeng and Changan's integration of Changhe, but also extended the acquisition and reorganization of overseas acquisitions and completed the acquisition of Volvo by Geely.

Experts told reporters that the motives of mergers and reorganizations in the auto industry have come from the industry's heavy construction and low industry concentration on the long-term development of the industry. On the one hand, the risk of overcapacity in the auto industry has caused the attention of the relevant ministries and commissions of the country.

Excessive risk of overcapacity

The reporter learned that at the beginning of this year, the National Development and Reform Commission entrusted the China Automotive Technology and Research Center to carry out the fifth auto production capacity survey for the major automotive enterprise groups in the auto industry. The survey included 20 domestic automobile enterprise groups and 10 vehicle manufacturers. The survey results show that by the end of 2009, the 30 vehicle group formed 13.95 million vehicles, and the planned capacity at the end of 2015 was 31.24 million.

But this is not the final data. According to Chen Bin, Director of the Industry Coordination Department of the National Development and Reform Commission, there are 27 provinces, autonomous regions, and municipalities across the country that produce whole vehicles. According to the planning situation understood by the NDRC from relevant local government departments, the planning capacity of the “Twelfth Five-Year Plan” is even longer. This figure exceeds 31.24 million vehicles.

Chen Bin proposed a series of countermeasures for the ever-increasing risk of overcapacity. In particular, he pointed out that local governments should not blindly give indicators to enterprises, they must strengthen the monitoring of the production capacity and capacity utilization of the automotive industry, and timely release to the community of industry production and sales, investment and production capacity to eliminate backwardness, corporate restructuring and other information and related policies to guide resources The reasonable configuration.

Zhao Hang, director of China National Automobile Research Center, believes that the status quo of many auto companies like ours is obviously not conducive to the development of the industry and needs to be resolved through mergers and reorganizations. A member of the China Association of Automobile Manufacturers pointed out that during the “Twelfth Five-Year Plan” period, regional mergers and reorganizations will accelerate. By then, major auto-producing provinces in China will use fiscal and tax incentives to encourage key automakers and other powerful companies to merge and restructure auto companies. Utilize existing stock assets and resources to adjust the structure and promote the merger and reorganization of the automobile industry in the region.