标签归档 上海4197龙凤

　　The reporter learned from the teleconference on "One City Code" held on the afternoon of January 24th that in order to further strengthen the epidemic prevention and control work, greatly facilitate people’s travel and improve traffic efficiency, the municipal epidemic prevention and control headquarters decided to promote "One City Code" (Henan Health Code Visit Registration) in Jiaozuo City, realizing the "three codes in one" of trip code, health code and Zhongyuan Bank registration code, and using scientific and technological strength to help the epidemic prevention and control work speed up again.

　　It is understood that the "one city code" will be officially opened on January 27, and the implementation of the new code will be more conducive to the convenience of the masses and improve the ability of accurate investigation, control and traceability. Different from the previous code scanning needs, the new "health code" has a unified interface standard, a unified code scanning entrance and a unified data convergence standard, which provides more accurate data support for timely and comprehensively grasping the epidemic risk and flow of personnel and uniformly formulating site information, risk personnel information and risk personnel code scanning records.

　　It is worth mentioning that the new "health code" will further improve the functional construction:

　　To apply for a new code, counties, townships, villages, grid workers and community administrators can apply for a "place code". After applying, they only need to collect basic information, and after the background entry is activated, they can post it for use;

　　To apply for a new code, residents only need to scan for the first time and fill in the basic information before they can apply for a personal health code;

　　The new code can be used to collect the health code for the family members of residents with old people or children at home;

　　With the new code, the leading institutions of epidemic prevention and control in counties (cities, districts) can make unified judgments on personal health information;

　　New code management, in order to avoid the phenomenon of wrong filling and missing filling, the industry administrator can modify and improve the basic information of the place;

　　Scan code statistical analysis, the person in charge of all kinds of places can analyze and count according to the scan code data of the day;

　　Add a special list, which can be added for epidemic prevention and control personnel to ensure the health code status of epidemic prevention and control personnel.

Notice on printing and distributing the operation guide for the cooperation mode of government and social capital (for Trial Implementation)
Caijin [2014] No.113

The finance departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning, and the Finance Bureau of Xinjiang Production and Construction Corps:

According to the Notice of the Ministry of Finance on Issues Related to Popularizing and Applying the Cooperation Mode of Government and Social Capital (No.76 [2014] of the Ministry of Finance), in order to ensure the implementation quality of cooperation projects between government and social capital, and standardize the operation procedures of each link of project identification, preparation, procurement, implementation and handover, the Operation Guide for Cooperation Mode of Government and Social Capital (for Trial Implementation) is hereby issued, please follow it.

Attachment: Operation Guide for Cooperation Mode of Government and Social Capital (Trial)

the Ministry of Finance
November 29th, 2014

Attachment:

Guide to the operation of cooperation mode between government and social capital
(Trial)

Chapter I General Provisions

the first In order to popularize and apply the Public-Private Partnership (PPP) scientifically and normatively, According to the Budget Law of the People’s Republic of China, the People’s Republic of China (PRC) Government Procurement Law, the People’s Republic of China (PRC) Contract Law, the State Council’s Opinions on Strengthening the Management of Local Government Debt (Guo Fa [2014] No.43), the State Council’s Decision on Deepening the Reform of Budget Management System (Guo Fa [2014] No.45) and the Notice of the Ministry of Finance on Promoting and Applying the Cooperation Mode of Government and Social Capital (Cai

the second The term "social capital" as mentioned in this Guide refers to domestic and foreign enterprise legal persons who have established a modern enterprise system, but does not include financing platform companies owned by the government at the same level and other holding state-owned enterprises.

Article This guide is applicable to regulate the activities of the government, social capital and other participants in the identification, preparation, procurement, implementation and handover of cooperation projects between the government and social capital.

Article 4 The financial department should adhere to the basic principles of the socialist market economy, strengthen coordination with relevant government departments in the spirit of system innovation and cooperative contract, actively play the role of third-party professional institutions, and comprehensively coordinate the cooperative management of government and social capital.

The financial departments of all provinces, autonomous regions, municipalities directly under the Central Government, cities under separate state planning and Xinjiang Production and Construction Corps should actively set up government and social capital cooperation centers or designate specialized agencies to perform the duties of planning guidance, financing support, identification and evaluation, consulting services, publicity and training, performance evaluation, information statistics, expert database and project library construction.

Article 5 All participants should follow the principles of fairness, justice, openness, honesty and credibility, and implement government and social capital cooperation projects in a legal, standardized and efficient manner.

Chapter II Project Identification

Article 6 Infrastructure and public service projects with large investment scale, long-term stable demand, flexible price adjustment mechanism and high degree of marketization are suitable for government and social capital cooperation mode.

Government and social capital cooperation projects are initiated by the government or social capital, mainly by the government.

(1) initiated by the government.

The financial department (government and social capital cooperation center) should be responsible for collecting potential government and social capital cooperation projects from the competent departments of transportation, housing construction, environmental protection, energy, education, medical care, physical fitness and cultural facilities. The competent department of industry can select potential projects from the new construction, reconstruction projects or stock public assets in the national economic and social development planning and industry special planning.

(2) Initiation of social capital.

Social capital should recommend potential government and social capital cooperation projects to the financial department (government and social capital cooperation center) in the form of project proposal.

Article 7 The financial department (government and social capital cooperation center) shall, jointly with the industry authorities, evaluate and screen potential government and social capital cooperation projects and determine alternative projects. The financial department (government and social capital cooperation center) shall formulate the annual and medium-term development plan of the project according to the screening results.

For the projects included in the annual development plan, the project sponsor shall submit relevant materials according to the requirements of the financial department (government and social capital cooperation center). The feasibility study report, project output description and preliminary implementation plan shall be submitted for new construction and reconstruction projects; The stock project shall submit the historical data, project output description and preliminary implementation plan of the stock public assets.

Article 8 The financial department (government and social capital cooperation center) will carry out value-for-money evaluation from both qualitative and quantitative aspects in conjunction with the competent departments of the industry. Quantitative evaluation work is carried out by all localities according to the actual situation.

Qualitative evaluation focuses on whether the cooperation mode of government and social capital can increase supply, optimize risk distribution, improve operational efficiency, promote innovation and fair competition compared with the traditional government procurement mode.

Quantitative evaluation mainly compares the present value of government expenditure cost with the comparative value of public sector in the whole life cycle of government and social capital cooperation projects, calculates the value for money of the projects, and judges whether the cooperation mode of government and social capital reduces the whole life cycle cost of the projects.

Article 9 In order to ensure the long-term financial sustainability, the financial department should demonstrate the financial affordability of some projects paid or subsidized by the government according to the financial expenditure, government debt and other factors in the whole life cycle of the project, and the annual financial expenditure such as government payment or government subsidy should not exceed a certain proportion of the current fiscal revenue.

Projects that pass the value-for-money evaluation and financial affordability demonstration can be prepared.

Chapter III Project Preparation

Article 10 Local people’s governments at or above the county level may establish a special coordination mechanism, which is mainly responsible for project evaluation, organization and coordination, inspection and supervision, etc., so as to simplify the examination and approval process and improve work efficiency. The government or its designated relevant functional departments or institutions can be used as project implementation agencies, responsible for project preparation, procurement, supervision and handover.

Article 11 The project implementation agency shall organize the preparation of the project implementation plan, and introduce the following contents in turn:

(1) Overview of the project.

The general situation of the project mainly includes the basic situation, economic and technical indicators and the equity of the project company.

The basic situation mainly defines the contents of public products and services provided by the project, the necessity and feasibility of the project operating in the mode of cooperation between government and social capital, and the objectives and significance of the project operation.

Economic and technical indicators mainly define the project location, area, construction content or asset scope, investment scale or asset value, main output description and source of funds.

The equity of the project company mainly clarifies whether to set up the project company and the company’s equity structure.

(2) Basic framework of risk allocation.

According to the principles of risk allocation optimization, risk-return equivalence and risk control, the project risk is reasonably distributed between the government and social capital by comprehensively considering factors such as government risk management ability, project return mechanism and market risk management ability.

In principle, commercial risks such as project design, construction, finance, operation and maintenance are borne by social capital, risks such as laws, policies and minimum demand are borne by the government, and risks such as force majeure are reasonably shared by the government and social capital.

(3) Project operation mode.

Project operation modes mainly include entrusted operation, contract management, construction-operation-handover, construction-ownership-operation, transfer-operation-handover and reconstruction-operation-handover.

The choice of specific operation mode is mainly determined by the charging pricing mechanism, the level of project investment income, the basic framework of risk allocation, financing demand, reconstruction and expansion demand and expiration disposal.

(4) the transaction structure.

The transaction structure mainly includes the project investment and financing structure, return mechanism and related supporting arrangements.

The investment and financing structure of the project mainly explains the source, nature and purpose of the capital expenditure of the project, the formation and transfer of the project assets, etc.

The project return mechanism mainly explains the source of funds for social capital to obtain investment return, including payment methods such as user payment, feasibility gap subsidy and government payment.

Relevant supporting arrangements mainly explain the supporting facilities such as land, water, electricity, gas and roads provided by relevant institutions outside the project and the upstream and downstream services required by the project.

(5) Contract system.

The contract system mainly includes project contract, shareholder contract, financing contract, project contract, operation service contract, raw material supply contract, product purchase contract and insurance contract. The project contract is the core legal document.

The project boundary conditions are the core content of the project contract, mainly including the boundaries of rights and obligations, transaction conditions, performance guarantee and adjustment and convergence.

The boundary of rights and obligations mainly defines the ownership of project assets, the public responsibility assumed by social capital, the way of government payment and the result of risk distribution.

The boundary of trading conditions mainly defines the project contract term, project return mechanism, charging pricing adjustment mechanism and output description.

The boundary of performance guarantee mainly defines the compulsory insurance scheme and the performance guarantee system consisting of investment competition guarantee, construction performance guarantee, operation and maintenance guarantee and handover maintenance guarantee.

The adjustment of the convergence boundary mainly defines the response measures such as emergency handling, temporary takeover and early termination, contract change, contract extension, and the demand for new expansion and expansion of the project.

(6) Regulatory framework.

The supervision structure mainly includes authorization relationship and supervision mode. The authorization relationship mainly refers to the government’s authorization to the project implementation agency and the government’s authorization to social capital directly or through the project implementation agency; Supervision methods mainly include performance management, administrative supervision and public supervision.

(7) Selection of procurement methods.

Project procurement shall be carried out in accordance with the People’s Republic of China (PRC) Municipal Government Procurement Law and relevant rules and regulations, and the procurement methods include public bidding, competitive negotiation, invited bidding, competitive negotiation and single-source procurement. Project implementation agencies should choose appropriate procurement methods according to the characteristics of project procurement needs.

Open bidding is mainly applicable to projects with clear and complete core boundary conditions and technical and economic parameters, which are in line with national laws and regulations and government procurement policies and will not be changed in procurement.

Article 12 The financial department (government and social capital cooperation center) shall verify the value for money and financial affordability of the project implementation plan, and if it passes the verification, the project implementation agency shall report it to the government for review; If it fails to pass the verification, it can be re-verified after the implementation plan is adjusted; If it still fails to pass the re-verification, the cooperation mode of government and social capital will no longer be adopted.

Chapter IV Project Procurement

Article 13 Project implementation agencies should prepare pre-qualification documents according to the needs of the project, issue a pre-qualification announcement, invite social capital and financial institutions cooperating with them to participate in the pre-qualification, verify whether the project can obtain social capital response and achieve full competition, and submit the pre-qualification review report to the financial department (government and social capital cooperation center) for the record.

If there are more than three social capitals in the project that have passed the prequalification, the project implementation agency may continue to carry out the preparation of procurement documents; If there are less than three social capitals that have passed the prequalification, the project implementation agency shall reorganize the prequalification after the implementation plan is adjusted; If the social capital of the project is still not enough after re-prequalification, the procurement method selected by the implementation plan can be adjusted according to law.

Article 14 The pre-qualification announcement shall be published in the media designated by the financial department of the people’s government at or above the provincial level. If the pre-qualified social capital changes its qualification before signing the project contract, it shall promptly notify the project implementation agency.

The prequalification announcement shall include the authorized subject of the project, the project implementing agency and the project name, the procurement demand, the qualification requirements for social capital, whether the consortium is allowed to participate in procurement activities, the number and determination method of qualified social capital to be determined, and the time and place for social capital to submit the prequalification application documents. The time for submitting pre-qualification application documents shall not be less than 15 working days from the date of announcement.

Article 15 Project procurement documents shall include procurement invitation, instructions to competitors (including sealing, signing and stamping requirements, etc.), qualification, credit standing and performance certification documents that competitors should provide, procurement method, government authorization to project implementation agencies, approval of implementation plan and project-related approval documents, procurement procedures, requirements for preparation of response documents, deadline for submitting response documents, opening time and place, amount and form of compulsory guarantee deposit payment, evaluation method, evaluation standard and government procurement policy.

In case of competitive negotiation or competitive negotiation procurement, the project procurement documents shall specify the contents that may be substantially changed by the evaluation team according to the negotiation with social capital, including the technical and service requirements in the procurement requirements and the terms of the draft contract, in addition to the contents specified in the preceding paragraph.

Article 16 The review team consists of more than 5 representatives of project implementation agencies and review experts, of which the number of review experts shall not be less than 2/3 of the total number of review team members. Evaluation experts can be selected by the project implementation agency, but the evaluation experts should include at least one financial expert and one legal expert. The representative of the project implementation agency shall not participate in the project review as an expert.

Article 17 If the project adopts public bidding, invitation bidding, competitive negotiation and single-source procurement, it shall be implemented in accordance with government procurement laws, regulations and relevant regulations.

If the project is purchased by competitive negotiation, it shall be conducted in accordance with the following basic procedures:

(a) procurement announcement and registration.

The announcement of competitive consultation shall be published in the media designated by the financial department of the people’s government at or above the provincial level. The announcement of competitive consultation shall include the project implementing agency and project name, project structure and core boundary conditions, whether social capital that has not been prequalified is allowed to participate in procurement activities, as well as the review principle, project output description, requirements for response documents provided by social capital, time, place and method of obtaining procurement documents, price of procurement documents, deadline for submitting response documents, opening time and place. The time for submitting response documents shall not be less than 10 days from the date of announcement.

(two) qualification examination and procurement documents for sale.

If the qualification has been pre-qualified, the review team will no longer review the social capital qualification at the review stage. If the post-qualification review is allowed, the review team will review the qualifications of social capital in the review of response documents. The project implementation agency may, depending on the specific circumstances of the project, organize the inspection and verification of the qualifications of qualified social capital.

The selling price of procurement documents shall be determined in accordance with the principle of making up the printing cost of procurement documents, and shall not be for profit, and shall not be based on the purchase amount of the project. The sale period of procurement documents shall not be less than 5 working days from the date of commencement.

(3) Clarification or modification of procurement documents.

Before the deadline for submitting the first response document, the project implementation agency may make necessary clarifications or modifications to the issued procurement documents, and the contents of clarification or modification shall be regarded as an integral part of the procurement documents. If the clarification or modification may affect the preparation of the response document, the project implementation agency shall notify all social capital that have obtained the procurement document in writing at least 5 days before the deadline for submitting the first response document; Less than 5 days, the project implementation agency shall postpone the deadline for submission of response documents.

(4) Response document review.

The project implementation agency shall organize the receipt and opening of response documents in accordance with the provisions of the procurement documents.

The review team will review the response documents in two stages:

The first stage: determine the final purchase demand plan. The review team can negotiate with social capital for several rounds. During the negotiation, the technical and service requirements of the procurement documents and the terms of the draft contract can be substantially revised, but the non-negotiable core conditions stipulated in the procurement documents can not be revised. The content of substantive changes must be confirmed by the project implementation agency and notified to all social capital participating in the negotiation. The specific procedures shall be implemented in accordance with the Measures for the Administration of Non-tendering Methods of Government Procurement and relevant regulations.

The second stage: comprehensive score. After the final procurement demand plan is determined, the review team will comprehensively score the final response documents submitted by social capital, prepare the review report and submit the ranking list of candidate social capital to the project implementation agency. The specific procedures shall be implemented in accordance with the Measures for the Administration of Bidding for Government Procurement of Goods and Services and relevant regulations.

Article 18 The project implementing agency shall, in the pre-qualification announcement, procurement announcement, procurement documents and procurement contracts, specify the preferential measures and scope for domestic social capital, the requirements for foreign social capital to purchase goods and services produced in China and other relevant government procurement policies, as well as the mandatory guarantee requirements for social capital to participate in procurement activities and performance guarantee. Social capital should pay the deposit in non-cash forms such as checks, bills of exchange, promissory notes or letters of guarantee issued by financial institutions and guarantee institutions. The amount of the deposit for participating in procurement activities shall not exceed 2% of the project budget. The amount of performance bond shall not exceed 10% of the total initial investment or asset evaluation value of government and social capital cooperation projects. For service cooperation projects with no fixed assets investment or small investment, the amount of performance bond shall not exceed the average service income of 6 months.

Article 19 The project implementation agency shall organize social capital to conduct on-site inspection or hold a question-and-answer meeting before purchasing, but it shall not organize on-site inspection and question-and-answer meeting with only one social capital alone or separately.

Article 20 The project implementation agency shall set up a special negotiation working group to confirm the procurement results. According to the ranking of the candidate social capitals, the candidate social capitals and the financial institutions that cooperate with them shall negotiate the confirmation of the variable details in the contract before signing, and the winner shall be the first to reach an agreement. Confirm that the negotiation shall not involve the non-negotiable core clauses in the contract, and shall not renegotiate with the social capital ranked first but whose negotiation has been terminated.

Article 21 After the confirmation negotiation is completed, the project implementation agency shall sign a confirmation negotiation memorandum with the selected social capital, and publicize the procurement results and the contract text drawn up according to the procurement documents, response documents, addendum documents and confirmation negotiation memorandum. The publicity period shall not be less than 5 working days. The contract text should take the important commitments and technical documents in the successful social capital response document as annexes. The contents involving state secrets and commercial secrets in the contract text may not be publicized.

After the expiration of the publicity period, the project contract without objection shall be signed by the project implementation agency and the selected social capital after the approval of the government.

If it is necessary to set up a special project company for the project, after the establishment of the project company, the project company and the project implementation agency will re-sign the project contract or sign a supplementary contract to inherit the project contract.

The project implementation agency shall, within 2 working days from the date of signing the project contract, announce the project contract in the media designated by the financial department of the people’s government at or above the provincial level, except for the contents involving state secrets and commercial secrets in the contract.

Article 22 The financial departments of the people’s governments at all levels shall strengthen the supervision and inspection of the procurement activities of PPP projects, and deal with the illegal acts in the procurement activities in a timely manner.

Chapter V Project Implementation

Article 23 Social capital can set up project companies according to law. The government may designate relevant institutions to participate in the project company according to law. Project implementation agencies and financial departments (government and social capital cooperation center) should supervise social capital to set up the project company in full and on time in accordance with the procurement documents and project contracts.

Article 24 Project financing is the responsibility of social capital or project company. Social capital or project companies should promptly carry out financing scheme design, institutional contact, contract signing and financing delivery. Financial departments (government and social capital cooperation center) and project implementation agencies should do a good job in supervision and management to prevent corporate debts from being transferred to the government.

If the social capital or the project company fails to complete the financing as agreed in the project contract, the government may withdraw the performance bond until the project contract is terminated; In case of systemic financial risks or force majeure, the government, social capital or the project company may revise the relevant financing clauses in the contract through consultation according to the project contract.

When the project has major operational or financial risks, which threaten or infringe the interests of creditors, creditors can request social capital or project company to improve management according to the direct intervention agreement or terms signed with the government, social capital or project company. Within the time limit stipulated in the direct intervention agreement or terms, if the major risk has been lifted, the creditor shall stop intervening.

Article 25 The government payment obligations involved in the project contract shall be considered by the financial department in combination with the medium and long-term financial planning, incorporated into the government budget at the same level, and implemented in accordance with the relevant provisions of budget management. The financial department (government and social capital cooperation center) and the project implementation agency shall establish a government payment ledger for government and social capital cooperation projects, and strictly control the government financial risks. After the establishment of the government’s comprehensive financial reporting system, the government’s payment obligations in the cooperation projects between the government and social capital should be included in the government’s comprehensive financial reporting.

Article 26 The project implementation agency shall, according to the project contract, supervise the social capital or the project company to fulfill its contractual obligations, regularly monitor the project output performance indicators, prepare quarterly and annual reports, and report them to the financial department (government and social capital cooperation center) for the record.

If the government has the obligation to pay, the project implementing agency shall, according to the output description agreed in the project contract and actual performance, directly or notify the financial department to pay the social capital or the project company in full and on time. If an excess income sharing mechanism is set up, social capital or the project company shall pay the excess income to the government in full and on time according to the project contract.

If the actual performance of the project is better than the agreed standard, the project implementing agency shall implement the incentive clauses agreed in the project contract, which can be used as the basis for whether the contract can be extended at the expiration of the project; If it fails to meet the agreed standards, the project implementation agency shall implement the punishment clauses or relief measures agreed in the project contract.

Article 27 If social capital or the project company violates the project contract, threatening the sustained, stable and safe supply of public goods and services, or endangering national security and major public interests, the government has the right to temporarily take over the project until the early termination procedure of the project is started.

The government may designate qualified institutions to implement temporary takeover. All expenses arising from the temporary takeover of the project will be borne by the defaulting party alone or shared by the responsible parties according to the project contract. Social capital or the temporary takeover expenses that the project company should bear can be deducted from its due termination compensation.

Article 28 In the process of project contract execution and management, project implementing agencies should focus on contract revision, liability for breach of contract and dispute resolution.

(1) Revision of the contract.

According to the conditions and procedures agreed in the project contract, the project implementing agency and social capital or the project company can apply for revising the project contract according to the changes in the social and economic environment, the demand and structure of public goods and services, and implement it after being examined and approved by the government.

(2) Liability for breach of contract.

If the project implementing agency, social capital or project company fails to fulfill the obligations stipulated in the project contract, they shall bear the corresponding liabilities for breach of contract, including stopping the infringement, eliminating the impact, paying liquidated damages, compensating the losses and dissolving the project contract.

(3) Dispute settlement.

In the process of project implementation, according to the project contract, the project implementation agency, social capital or project company may apply for arbitration or bring a civil lawsuit in accordance with the law on matters that are controversial and cannot be reached through consultation.

Article 29 The project implementation agency shall conduct a mid-term evaluation of the project every 3-5 years, focusing on the analysis of the project operation status and the compliance, adaptability and rationality of the project contract; Timely assess the risks of problems found, formulate countermeasures, and report to the financial department (government and social capital cooperation center) for the record.

Article 30 Relevant functional departments of the government should perform administrative supervision duties on the project according to relevant national laws and regulations, focusing on the quality of public products and services, price and charging mechanism, safe production, environmental protection and workers’ rights and interests.

If the social capital or the project company refuses to accept the administrative supervision decision of the government functional departments, it may apply for administrative reconsideration or bring an administrative lawsuit according to law.

Article 31 The government, social capital or project company should publicly disclose the relevant information of the project according to law, protect the public’s right to know and accept social supervision.

Social capital or project company shall disclose the quantity and quality of project output, project operation status and other information. The government should disclose the contract terms, performance monitoring reports, mid-term evaluation reports and major changes or terminations of government and social capital cooperation projects that do not involve state secrets or commercial secrets.

If the public and project stakeholders find that the project is illegal or in breach of contract, or the public products and services are not up to standard, they can submit it to the government functional departments for supervision and inspection.

Chapter VI Project Handover

Article 32 When the project is handed over, the project implementing agency or other agencies designated by the government will recover the project assets agreed in the project contract on behalf of the government.

The project contract should clearly stipulate the transfer form, compensation method, transfer content and transfer standard. Handover forms include termination of handover upon expiration and termination of handover in advance; Compensation methods include free transfer and paid transfer; The transfer contents include project assets, personnel, documents and intellectual property rights; Handover standards include indicators such as equipment integrity rate and minimum serviceable life.

If paid transfer is adopted, the compensation scheme shall be clearly stipulated in the project contract; If there is no agreement or the agreement is unclear, the project implementation agency shall draw up a compensation plan in accordance with the principle of "restoring the same economic status" and report it to the government for approval before implementation.

Article 33 The project implementation agency or other agencies designated by the government shall set up a project handover working group, confirm the handover situation and compensation method with social capital or project company according to the project contract, and formulate an asset evaluation and performance test plan.

The project transfer working group shall entrust an asset appraisal institution with relevant qualifications to conduct asset appraisal on the transferred assets according to the appraisal method agreed in the project contract as the basis for determining the compensation amount.

The project handover working group shall conduct performance tests on the handed-over assets in strict accordance with the performance test scheme and handover standards. If the performance test results are not up to standard, the handover working group shall require social capital or project company to carry out recovery repair, update and reset or withdraw the handover maintenance guarantee.

Article 34 Social capital or project company shall hand over the project assets, intellectual property rights and technical legal documents that meet the performance test requirements, together with the list of assets, to the project implementation agency or other institutions designated by the government, and complete the legal transfer and management transfer procedures. Social capital or project company should cooperate with the smooth transition of project operation.

Article 35 After the handover of the project is completed, the financial department (government and social capital cooperation center) shall organize relevant departments to evaluate the performance of the project output, cost-effectiveness, regulatory effectiveness, sustainability, application of government and social capital cooperation mode, and disclose the evaluation results according to relevant regulations. The evaluation results can be used as a reference for the government to carry out the cooperative management of government and social capital.

Chapter VII Supplementary Provisions

Article 36 This operation guide shall come into force as of the date of issuance and shall be valid for 3 years.

Article 37 The Ministry of Finance shall be responsible for the interpretation of this operation guide.

Attachment: 1. Operation Flow Chart of Government and Social Capital Cooperation Project

2. Noun explanation

Attachment 1

Operation flow chart of government and social capital cooperation project

Attachment 2

Noun interpretation

1. Whole Life Cycle refers to the complete cycle of a project from design, financing, construction, operation, maintenance to termination of handover.

2. Output Specification refers to the economic and technical standards that the project assets should meet after the completion of the project, as well as the delivery scope, standards and performance levels of public goods and services.

3. Value for Money, VFM) refers to the long-term maximum benefits that an organization can obtain by using its available resources. VFM evaluation is a widely used evaluation system in the world to evaluate whether the public goods and services traditionally provided by the government can use the cooperation model of government and social capital, aiming at optimizing the efficiency of public resources allocation and utilization.

4. Public Sector Comparator, PSC) refers to the present value of the total cost of public goods and services provided by the government in the traditional procurement mode during the whole life cycle, which mainly includes the net cost of construction and operation, transferable risk bearing cost, retained risk bearing cost and competitive neutral adjustment cost.

5. User Charge refers to the direct purchase of public goods and services by the final consumer.

6. Viability Gap Funding refers to the economic subsidies given to social capital or project company by the government in the form of financial subsidies, equity investment, preferential loans and other preferential policies, because the fees paid by users are not enough to meet the cost recovery and reasonable return of social capital or project company.

7. Government Payment refers to the direct purchase of public goods and services by the government, which mainly includes Availability Payment, Usage Payment and Performance Payment.

The basis of government payment is mainly the availability of facilities, the usage and quality of products and services.

8. Operations & Maintenance (O&M) refers to the operation mode of government-social capital cooperation projects in which the government entrusts the operation and maintenance of public assets in stock to social capital or project companies, and social capital or project companies are not responsible for user services. The government retains the ownership of assets and only pays the entrusted operation fee to social capital or project company. The term of the contract generally does not exceed 8 years.

9. Management Contract (MC) refers to the project operation mode in which the government entrusts the operation, maintenance and user service of public assets in stock to social capital or project company. The government retains the ownership of assets and only pays management fees to social capital or project companies. Management contracts are usually used as a transitional mode of transfer-operation-transfer, and the contract period is generally not more than 3 years.

10. Build-Operate-Transfer (BOT) refers to the project operation mode in which social capital or project company undertakes the responsibilities of design, financing, construction, operation, maintenance and user service of new projects, and the project assets and related rights are handed over to the government after the contract expires. The contract term is generally 20-30 years.

11. Build-Own-Operate (BOO) evolved from BOT mode. The main difference between the two modes is that social capital or the project company owns the project ownership under BOO mode, but the contract must specify the constraint clauses to ensure public welfare, which generally does not involve the handover of the project upon expiration.

12. Transfer-Operate-Transfer (TOT) refers to the project operation mode in which the government transfers the ownership of existing assets to social capital or project company for compensation, which is responsible for operation, maintenance and user service, and the assets and their ownership are handed over to the government after the contract expires. The contract term is generally 20-30 years.

13. Rebuild-operate-transfer (ROT) refers to the project operation mode in which the government adds renovation and expansion contents on the basis of TOT mode. The contract term is generally 20-30 years.

Affected by the lack of core and rising raw material prices, the performance of listed car companies is under pressure.

Author | Zhen Yao

Edit | Jane

Produced by | Bangning Studio (gbngzs)

2021 has entered the countdown, with only the last two months left. After entering November, it seems that overnight, autumn and winter have completed the seasonal change, and the temperature in many parts of the country has dropped precipitously.

　

This sudden chill is also reflected in the third quarter financial report of most mainstream listed car companies.

　

As of the close of November 1, SAIC, Great Wall Motor, BYD, Guangzhou Automobile Group and many other A-share listed car companies announced their third quarter 2021 financial reports. Bangning Studio counted the data of 10 car companies and found that only Changan Automobile rode the dust and achieved net profit growth.

　

Compared with the sharp recovery in the first and second quarters, listed car companies once again encountered profit pressure in the third quarter. Most car companies’ revenues and profits have both declined, and the decline rate is basically above double digits, even exceeding 200%.

　

In terms of net profit alone, in the third quarter, among the 10 car companies, except Changan Automobile, 9 all experienced different degrees of decline. Although Xiaokang, Beiqi Blue Valley and Haima did not disclose the year-on-year data of net profit in the financial report, their net profit in the third quarter was negative. Obviously, their business development is facing no small challenge.

　

On October 29th, the latest data from the National Bureau of Statistics compiled by China Association of Automobile Manufacturers showed that the profit of the automobile manufacturing industry increased by less than 2% in the first three quarters of this year. In the first three quarters, the accumulated profit of the automobile manufacturing industry was 379.97 billion yuan, up by 1.2% year-on-year, and the growth rate dropped by 4.3 percentage points from January to August, which was lower than that of enterprises above designated size by 43.5 percentage points.

　

The China Automobile Association said that the impact of chip shortage is still going on, and it is expected that profits may show negative growth after October.

▲ Image source: China Automobile Association

Under the impact of unfavorable factors such as lack of core and rising raw material prices, many car companies need to bear the pressure of performance to move on in the short term; In the long run, we should also deal with the changes of the new four modernizations and globalization in order to develop with the trend.

　

▍ Full pressure bearing

　

Since the end of 2020, the chip shortage storm has become the core issue that affects the recovery of the global automobile industry and the stability of the supply chain after the outbreak of the epidemic. In the third quarter of this year, in addition to the shortage of chips, the automobile industry in China is also facing soaring prices of raw materials, non-ferrous metals and electronic components, which has hindered the rapid recovery of most automobile enterprises in the "post-epidemic era".

　

According to the data of China Automobile Association, in September, the production and sales of passenger cars were 1.767 million and 1.751 million, respectively, down by 13.9% and 16.5% year-on-year, and the decline was 2 and 4.8 percentage points higher than that in August. From January to September, the production and sales of passenger cars were 14.658 million and 14.862 million, respectively, up by 10.7% and 11.0% year-on-year, and the growth rate continued to drop by 4.5 and 5 percentage points from January to August, and the cumulative growth rate continued to drop sharply. "The shortage of chips has affected production and sales to some extent." According to the analysis of China Automobile Association.

▲ Image source: China Automobile Association

The decline in performance is more intuitive in the third quarter financial reports of major car companies. Bangning Studio believes that it is mainly manifested in two points:

　

First, SAIC and GAC, which take joint venture brands as their profit pillars, both lost to joint venture brands, and their net profit in the third quarter fell by more than double digits. Second, 40% of the car companies represented by Great Wall Motor and BYD, due to the shortage of chips and the rising price of raw materials, increased revenue does not increase profits.

　

Take SAIC as an example. As a leading automobile enterprise in China, its revenue and net profit both declined in the third quarter.

　

For a long time, the joint venture brand has been regarded as a "cash cow" by car companies. SAIC, which holds SAIC-Volkswagen, SAIC-GM and SAIC-GM-Wuling, is one of the representatives. Over the years, it has made a lot of money by virtue of joint venture brands. However, in the third quarter of this year, the operating income of SAIC decreased by 13.5% and the net profit decreased by 14.75%.

▲ Image source: SAIC Group Production and Marketing Express

Saic’s revenue profit has shrunk this time, which is related to sales performance. The data shows that its cumulative sales volume in the first three quarters was 3.619 million units, a slight increase of 0.16% year-on-year. According to previous data, SAIC sold 2.297 million vehicles in the first half of the year, up 12.1% year-on-year.

SAIC Volkswagen and SAIC-GM are "profit cows" of SAIC. Under the influence of lack of core, the sales of the two companies are greatly reduced. The data shows that in the first three quarters, the cumulative sales volume of SAIC Volkswagen was 850,400 units, down 17.54% year-on-year; The cumulative sales volume of SAIC-GM was 901,900 units, down 5.22% year-on-year; Although the cumulative sales volume of SAIC-GM-Wuling reached 1,051,400 vehicles, up 6.74% year-on-year, the profit margin of its products is limited, which is a drop in the bucket for SAIC.

　

Not only SAIC, but also GAC’s net profit even dropped by 64.71% due to the decline of joint venture brand sales.

　

Due to the shortage of chips, the production and sales of Guangqi Honda and Guangqi Toyota under Guangzhou Automobile Group suffered a lot in the third quarter. In September this year, Guangqi Honda sold 72,100 vehicles, down 17.92% year-on-year. GAC Toyota sold 48,300 vehicles in September, down 40.37% year-on-year.

　

China automobile dealers association made some statistics and early warning. On November 1st, the association released the "Market Insight and Price Monthly Report in October 2021", which showed that under the influence of chip shortage, the production capacity of head manufacturers such as Volkswagen, Honda and Toyota were greatly affected, and the sales volume continued to decline. The year-on-year decline in September expanded to 31.0%, and the lack of core remained the biggest obstacle to the rise of the joint venture market in the short term. "If the pressure on chip supply is not effectively alleviated, it is expected that the joint venture market will continue to experience a significant decline in the fourth quarter." The monthly report pointed out.

For Guangzhou Automobile Group, its new energy is worth showing off. From January to September, Guangzhou Automobile Aian, a new energy subsidiary of Guangzhou Automobile Group, produced and sold nearly 80,000 vehicles, with an increase of 95.91% in output and 104.01% in sales.

　

Thanks to the improvement of the operation of independent brands, the gross profit margin of Guangzhou Automobile Group has been improved. The financial report shows that its gross profit margin in the third quarter reached 6.33%, up 0.78 percentage points from the previous quarter and 3.25 percentage points from the same period last year.

　

It can be seen that for car companies that have long relied on joint ventures, there is a situation in which strong joint ventures have strong performance and weak joint ventures have weak performance. If there is a big decline in the joint venture brand, it will directly affect the group’s profit. Therefore, how to improve the profitability of independent brands is one of the important problems faced by car companies.

However, in China’s automobile brand sector, its third-quarter financial report also shows that manufacturers are under pressure, such as Great Wall Motor, BYD, Xiaokang and Beiqi Blue Valley, all of which increase their income without increasing their profits.

　

The data shows that Great Wall Motor’s revenue increased by over 10% in the third quarter, but its net profit was 1.416 billion yuan, slightly lower than 1.44 billion yuan in the same period last year. In this regard, soochow securities said that the decline in profits of Great Wall Motor in the third quarter was affected by factors such as lack of core in the industry and the provision of equity incentive fees.

　

Great Wall Motor’s financial report data shows that the operating costs in the first three quarters rose sharply, rising by 46% from 51.88 billion yuan in the same period last year to 75.74 billion yuan, among which the sales expenses and management expenses all increased significantly.

　

BYD is also deeply troubled by rising costs. The car company achieved operating income of 54.307 billion yuan in the third quarter, a year-on-year increase of 21.98%; The net profit of returning to the mother was 1.27 billion yuan, down 27.50% year-on-year. In this regard, CITIC Securities Research Report pointed out that the price increase of upstream raw materials and the decrease in income of medical protection products after the normalization of the epidemic are the two main reasons that affect BYD’s performance.

Surprisingly, although the continuous increase in income does not increase profits, it does not prevent BYD’s share price from rising all the way. Since the low point in May, the company’s share price has doubled in less than half a year. On November 2nd, BYD closed at 313.88 yuan per share, an increase of 3.93%.

　

According to the analysis of Shanghai Securities, the next few years will be a period of rapid release of BYD’s profits, and the company’s profits will show a nonlinear rapid growth. Blade lithium iron battery and DM-i have changed from initial doubt to trend, indicating that the company’s innovation is gaining market recognition.

　

Only Changan Automobile, a car company, has a red net profit.

　

During the reporting period, Changan Automobile achieved an operating income of 22.4 billion yuan, a slight decrease of 2.8% year-on-year; The net profit attributable to shareholders of listed companies was 884 million yuan (adjusted), up 42.9% year-on-year; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 519 million yuan (after adjustment), a year-on-year increase of 92.67%.

　

The operating income and profitability of this car company have steadily increased, which is closely related to market sales.

Since the beginning of this year, with the sales growth and product structure optimization of Changan Automobile, the profitability of independent business has been greatly improved, and the company’s performance is continuing to improve. The data shows that in the first three quarters of this year, the sales volume of Changan Automobile increased by 26.4% year-on-year, and the cumulative sales volume reached 1.732 million units.

　

However, the financial report shows that due to repeated overseas epidemics and chip shortage, Changan Automobile production failed to meet the market demand in the third quarter, and the ratio of warehouse to sales was at a historical low. Among them, Changan Automobile’s sales in September decreased by 8.41% year-on-year to 188,200 units. However, the company said that with the recovery of overseas chip production capacity, it is expected that supply and demand will tend to improve.

　

The shortage of automobile chips has ushered in an inflection point. On November 1st, china automobile dealers association released the latest issue of "Automobile Consumption Index", showing that the automobile consumption index in October was 66.1. The association pointed out that the current chip shortage problem has eased slightly, but the automobile market is basically in a state where supply determines demand, and the overall market demand continues to delay accumulation. With the easing of market capacity supply, market demand has been partially released. In the fourth quarter, dealers began to impulse and increase sales promotion. With the improvement of supply satisfaction, car sales in the fourth quarter are expected to increase compared with the third quarter.

　

▍ Continuous investment

　

Innovation-driven, investing heavily in research and development, and introducing first-class talents … This is the commonality of world-class manufacturing enterprises, and it is also a topic that independent automobile brands need to face together-only innovation-driven and technology is king can we achieve "overtaking in corners" in key core technologies.

　

Although the profits of most car companies declined in the third quarter, it did not prevent mainstream car companies from increasing R&D investment. Some insiders said that with the wave of globalization, R&D innovation has become a necessary means for car companies to maintain their competitive advantage and obtain rich profits.

In terms of financial report data, SAIC led by 4.836 billion yuan, followed by BYD, Changan Automobile and Great Wall Motor. The R&D expenses of the three car companies in the third quarter reached 2.238 billion yuan, 2.085 billion yuan and 1 billion yuan respectively. Although Beiqi Blue Valley and Jianghuai Automobile were still losing money in the third quarter, their R&D expenses both exceeded 200 million yuan, increasing by 40% and 28% respectively.

　

Judging from the R&D expenses in the first three quarters of this year, many enterprises have invested more than 1 billion yuan in R&D.. Among them, the accumulated R&D expenses of SAIC have exceeded 10 billion yuan, reaching 12.6 billion yuan, up 41.55% year-on-year. SAIC explained in the financial report that the reason for the increase in R&D expenses is to further increase R&D investment in new energy, intelligent networking, digitalization and other technologies.

　

In the era of digital intelligent Internet of Things, with the large-scale popularization of 5G and AI technologies, the automobile manufacturing industry is welcoming a subversive change. The mainstream car companies represented by SAIC, BYD, Changan Automobile and Great Wall Motor are realizing the transformation from "following" to "leading".

　

On October 29th, the news that SAIC set up Feifan Automobile and planned to set up Zero Beam Technology Company was announced at the same time as the third quarterly report.

　

Feifan Automobile has a registered capital of 7 billion yuan. Among them, SAIC subscribed 6.65 billion yuan, accounting for 95% of the registered capital. Shanghai Ruyuan Automotive Technology Partnership (Limited Partnership) (employee stock ownership platform) subscribed for 350 million yuan, accounting for 5%.

SAIC said that the company will market the R brand as an independent brand and company through Feifan Automobile, explore a new model of data-driven and industrial co-creation, and accelerate the development of the mid-to-high-end smart electric vehicle market.

　

In addition to the continuous transformation of the R brand, SAIC also plans to set up a company called Zero Beam Technology on the same day, which is positioned as a platform-based software technology enterprise.

　

The registered capital of Zero Beam Technology is 3.7 billion yuan, of which 3.45 billion yuan is subscribed by SAIC, accounting for 93.24% of the shares. Shanghai Zero-Rise Technology Partnership (Limited Partnership) (employee stock ownership platform) subscribed for 250 million yuan, accounting for 6.76%.

　

In addition, SAIC’s capital operation continues. Today, SAIC Hongyan has been injected as a wholly-owned subsidiary of the listed company SAIC. Next, SAIC’s RV lifestyle and Youdao Zhitu will also strive for IPO. SAIC also launched Jiehydrogen Technology to introduce strategic investors, enjoy a new round of external financing, and Zhonghaiting A round of financing.

　

Changan Automobile is also accelerating its investment. On August 24th, at the Changan Automobile Technology Ecology Conference, Changan Automobile released its high-end new energy automobile brand Aouita, and also announced the partial shape of the first high-end intelligent electric medium-sized SUV E11 jointly built by Changan (C), Huawei (H) and Contemporary Amperex Technology Co., Limited (N) of Aouita Technology.

According to the plan, in the next five years, Changan Automobile expects to invest a total of 150 billion yuan in the whole industry chain to build the technology ecology of technology companies and accelerate the construction of software and intelligent capabilities.

　

In order to deepen the layout of the new track and accelerate the landing of new technologies, Great Wall Motor continued to increase R&D investment in the first three quarters of this year, and the cumulative R&D investment scale has exceeded that of last year.

　

For example, Great Wall Motor has already set up Salon Zhixing. It is reported that the "Z brand" affiliated to Salon Zhixing may be released at this year’s Guangzhou Auto Show. In addition, the Great Wall and BMW’s beam car will also be completed and put into production in 2022.

　

Guangzhou Automobile Group also issued a number of announcements, involving the implementation of the construction project plan of Guangzhou Automobile Ai ‘an self-developed battery trial production line, the implementation of its joint venture brand Guangqi Honda HQ model project, and the participation of Guangzhou Automobile Industry Group, the controlling shareholder of Guangzhou Automobile, in the financing of 1 billion yuan. Guangzhou Automobile Group is accelerating the development of electrification, intelligence and sharing.

　

▍ Breaking overseas

　

As a technology-intensive industry, the automobile manufacturing industry is in a critical period of transformation and upgrading and technological innovation. In the future, how should China automobile enterprises find high-quality resources and become the most competitive global enterprises? This is an important issue that most independent brands face in the new round of global competition.

　

At present, Chinese automobile brands are increasing their export and overseas expansion. China’s advantages in the field of new energy vehicles have opened the second growth curve for the export of China brand cars. At the same time, relying on the development experience and technical ability accumulated in the field of new energy for many years, China brand cars have achieved the "going out" of technical standards.

▲ Image source: China Automobile Association

According to the data analysis released by the General Administration of Customs compiled by China Automobile Industry Association, in the first three quarters of 2021, the total import and export volume of automobile goods exceeded 150 billion US dollars, which continued to maintain rapid growth year-on-year. In the first three quarters, a total of 1.492 million vehicles were exported, a year-on-year increase of 1.1 times; The export value was US$ 24.04 billion, a year-on-year increase of 1.2 times.

　

Cui Dongshu, secretary-general of the Association, analyzed that the supply advantage brought by the complete industrial chain of China automobile was further amplified under the influence of overseas epidemic, especially the shortage of chips was beneficial to China automobile export. The strong rise of China’s automobile export shows that the world competitiveness of China’s automobile industry has been greatly improved.

　

As the overseas sales champion of single brand in China, the export sales volume of SAIC passenger cars reached 28,000 in September. Among them, pure electric MG EZS has won the third place in Swedish pure electricity market and the fourth place in French pure electricity market.

"China’s automobile exports have continued to grow substantially, which is not unrelated to the gradual recovery of the global automobile market. The overall export scale is obviously driven by the export of new energy vehicles." According to relevant sources of Great Wall Motor, in the third quarter of this year, Great Wall Motor continued to promote global development on a large scale, entering the markets of Egypt, Brunei and Europe, and further expanding the global sales territory of Great Wall Motor.

　

In terms of overseas sales, with the help of the third-generation Haval H6, Haval First Love, Haval Big Dog and Great Wall Gun, the cumulative overseas sales of Great Wall Motor in the first three quarters reached 98,000, up 136.3% year-on-year, and the overall sales accounted for 11.1%.

▲ Great Wall Motor landed at Munich Auto Show

Like Great Wall Motor, China car companies such as Chang ‘an, Jianghuai, Geely and Chery are also accelerating the pace of global distribution, focusing on expanding the national and regional markets along the Belt and Road through mergers and acquisitions, setting up factories and introducing new products.

　

On November 1, Changan Automobile announced that from January to October this year, under the guidance of the national "Belt and Road" strategy, the cumulative export of Changan Automobile’s own brands exceeded 100,000 vehicles for the first time, reaching 102,029 vehicles, a year-on-year increase of 135%, a record high for Changan’s overseas exports, and the annual sales target was reached two months ahead of schedule. Among them, more than 90% of the sales come from the "Belt and Road" countries.

　

Shi Jianhua, Deputy Secretary-General of China Automobile Industry Association, believes that China’s automobile market has entered a stage of low-speed steady growth and intensified competition. As the world’s largest producer and marketer for 12 consecutive years, China’s automobile industry is in a critical development period of transformation and upgrading, from big to strong. China automobile enterprises should establish brand awareness, actively expand the international market, actively participate in the formulation of international standards and regulations, and constantly expand themselves in the global market competition.