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- Amid the COVID-19SLOTXOoutbreak, China's major electric car startup, "Nio", is said to be Chinese Tesla faces many constraints, including supply chain disruptions. Coupled with the restrictions on the Chinese government's listing on foreign exchanges, Nio had to return to domestic funding. That is the local government, the Communist Party. Hefei, Anhui Province, will become Nio's largest shareholder as it prepares to buy a 17 percent stake worth 5 billion yuan, about $787 million. But the city also plans for Nio to move its headquarters from Shanghai. to Hefei City ready to open more local production lines This model that the Communist Party of China is trying to tighten the private investment space. It could be seen as a block to innovation. or the emergence of startups However, the acquisition of Nio shares by Chinese local authorities This allowed the company to turn profitable again in early 2021, and the Hefei local government acted like a Wall Street investor. The sale of some shares during the peak of the share price allows the city of Hefei to make a profit on investment of up to 5.5 times the investment. “Investing in Nio has made us a lot of money. state money making (Communism) It's not shameful. It's about making money for the people," said Yu Aihua, secretary-general of the Communist Party of China in Hefei. Hefei was a pioneer of local financing of capitalism under communism. This kind of investment, China calls the "Hefei model". Currently, the Hefei local government invests in dozens of private companies involved in semiconductors. artificial intelligence and computer technology industry These industries are at the heart of President Xi Jinping's economic reform plan. 2008 BOE Technology Group Co., China's major LCD manufacturer. which is facing financial problems near collapse The Hefei local government decided to suspend plans to build the city's first subway line. and then invest the money in BOE instead. Until 2011, Hefei became the largest shareholder of BOE of 18%. Currently, Hefei has become one of the country's major LCD manufacturing centers with greater value. 100 billion yuan per year Create tens of thousands of jobs for citizens Researchers at the University of Chicago Tsinghua University in Beijing and the Chinese University of Hong Kong An analysis of more than 37 million Chinese companies found that of 40,000 state-owned shareholders, ranging from the central government to the city level. or even at the village level On average, one Chinese government agency owns or invests in 16 private companies. Zhang Taixia of the University of Chicago said, “This is not a state-owned company. But it's not a private company at all. This is the gray area. Which I think is the dominant organizational structure of China today. 30 years ago, the government (the Communist Party) owned everything. which often produces things that no one wants to buy. But now it's like a joint venture with the private sector," Zhang said. Partnerships with local states also facilitate business operations. is another key to success
- Vložil: "Hefei City" red star plays stocks find capital for urban development v 04:19 dne 11.02.2022
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