Tianjin Vice Mayor Cui Jindu Interview

 Tianjin Vice Mayor Cui Jindu
interview with Editor's Note: State Council approval, by the Tianjin Municipal Government, the National Federation and the American Association for Corporate Growth (A CG) co-sponsored the hereinafter referred to as ? the same time, the past year, the development and opening of Binhai New Area have what has been achieved, in what kind of situation? With these questions, and information networks interviewed in charge of finance, financial and other aspects of the work of Tianjin Vice Mayor Cui Jindu President.
of: Cho-Chou Kuo
harmony will: fund and an effective platform for enterprise docking
and Information Network: Tianjin, is how to determine the original host China International Private Equity Fair?
Cui Jindu: held in 2005, the Plenum of the party has made to accelerate the development and opening of Tianjin Binhai New Area, a major strategic decision .2006, the State Council issued the development and opening of Binhai New Area to promote the views of the problem, clearly accelerate the development and opening of Tianjin Binhai New Area the guiding ideology, overall objectives and major tasks, one of which is to accelerate the financial reform and innovation, clearly stated in the financial enterprises, financial services, financial markets, a major reform and opening up, in principle, arranged in the Tianjin Binhai New Area, first try first. Tianjin Municipal Government, the National Federation and the American Association for Corporate Growth (hereinafter referred to ACG) after consultations, decided on June 6 to 8 in the Tianjin Binhai New Area, co-sponsored International Convention and Exhibition Centre, China International Private Equity Forum (hereinafter referred to as Private Equity Forum .) held purpose of the meeting is to implement the State Council's strategic plan in promoting the comprehensive reform of Binhai New Area test, speed up financial reform and innovation in the development of equity investment funds, to expand the scale and proportion of direct financing, support for SMEs development, etc., to explore new ideas and ways to participate in international capital flows, set up direct financing platform to support the healthy growth of enterprises, promoting coordinated regional development.
before the end of March this year, mainly to do the organizing committee for examination and approval and pre- preparation and other work, then started doing publicity, investment and conduct of business and other work. In other words, the surface started from the community until the opening of Equity Forum, which is about three months. It is understood that out of no previous been meeting or event in this way. So we have a learning process, as well as promote the task of Equity Forum in Tianjin, the two things together at the same time. when we do not know what to do so, although please ACG side did talk, but did not personally visit, or may not know how to do. Therefore, the committee formed two groups to the U.S. study, a comprehensive grasp of the market operation ACG specific ways, how to choose and make the Fund and the Enterprise docking, but also to small and medium sized funds ACG Private Equity Forum in Tianjin understand the situation, which was established three basic consensus.
and information network: the network and information network with many different media, all to the financing of Fair interview This meeting was a good feeling to do. from the organizing committee to grasp the situation, the results of how to finance Fair?
Cui Jindu: first we assume six seventy fund five or six hundred corporate participants can , and including the participants did not expect the media to so many, in addition to a large number of intermediaries, in general is that several types of units such participants. funds and investment institutions considered a type of Chinese enterprises Operators of the main type of financing, there are a variety of intermediaries, financial institutions, and media. During the preparatory process, the National Association of Industry and Commerce and the China M & A lot of work for the conference laid the foundation for success. From participating units of the actual situation, quantity and quality are beyond original projections. On the overall effectiveness of the meeting, the organizing committee did a survey at the meeting, various aspects of Fanying is good overall.
and Infonet : Please elaborate questionnaire to reflect the situation.
Cui Jindu: Organizing Committee of the questionnaire involves several aspects. fund the feedback is that for the number of enterprises and quality of financing of basic satisfaction. financing business advice is in a short time to get to know a lot of funds and investment institutions, some of the concept of good corporate finance projects, as funds and investment institutions the object of pursuit, most companies are satisfied. on the same question in the questionnaire, that if we do This will still want to participate, most of the funds and companies have given a positive response. In another case, by appointment and during the pre-appointment, the Fund as an investment and corporate finance people, as a result of discussions, some reaching the initial intention, and some companies will be soon after the fund to get money into the account.
organizing committee solicited the views of ACG. ACG former Chairman, the Chairman and the incoming President, and CEO the four individuals in the same time to the pre-Jin, attended the meeting of all the activities, the situation in the United States before, but not outside the United States had. ACG believes that both the number of funds and the number of enterprises, or the overall operation of discuss the results and financing are successful, beyond their imagination.
order to ensure the quality of the meeting, the organizing committee of the participating funds and investment institutions have qualification requirements, ACG is responsible for funds and investment institutions qualification standards for members , to review the international financial services company in the corporate finance project plan, participants do not meet the requirements of the decline. A few days before the meeting, many companies apply for participants in various ways, but did not do business journal, too late to the situation of the enterprise introduced to investors in advance and therefore can not accept applications for the enterprise. Those who participated in the financing of enterprises Fair, in line with the requirements and conditions of equity investment, rather than buy a ticket will be able to attend. from several perspectives, this conference may be some features .
Tianjin hopes to organize a community harmony each year will
and Information Network: Tianjin prepared to continue to hold meetings?
Cui Jindu: Financing Fair co-sponsored by the tripartite cooperation, cooperation itself is difficult, takes time to run. from the meeting held in the situation, the tripartite process of running faster, tripartite cooperation, the situation is better. ACG has more than 700 members of small funds, each fund's size from two hundred million U.S. dollars to the billions of dollars, they want to to find investment opportunities in China, but less familiar with the situation in the Chinese market. In fact, a few years ago, a lot of funds to invest in China, but are we familiar with the big funds, their investments are concentrated in large enterprises, while small funds do not find the right opportunity and channels. ACG than 50 years as a member and corporate member organizations, funds held in Capital Connection conference organization, in particular, members wishing to organize a small fund to China. and some participants of the enterprises in the participants What is not clear before the equity investment fund, what is equity financing, in the description of the various issues raised.
and Information Network: are relatively elementary.
Cui Jindu: Yes, relatively early . To address these issues, the organizing committee has organized several training courses, the last course is May 24. am training to more than 400 enterprises, including how to fill financing plan, how to find the right fund, how Fund interviews, how to make an entry point for interviews, how to introduce the company's selling point, and so on. In the afternoon So now translation training, although many a good translation of the spoken language, but not necessarily familiar with this profession, it is also engaged in a professional language training.
Fair Organizing Committee before financing the preparations for a large number of organizations, the purpose is to investors and financiers to create conditions for negotiations during the meeting, after the meeting but also to provide long-term professional services. Earlier it was suggested that At the meeting, set to the number of contracts signed, the number of organizations much turnover and so on. But the ACG speaking, not to mention such a requirement, nor the pursuit of such results, because the purpose of the meeting is to butt the two sides, a platform for both sides, After the initial contact with the two sides have the intention, there will be substantial long-term results, but can not be signed during the meeting.
Organizing Committee after the meeting but also for investment and financing to provide long service, which is financing Fair a feature, so after finishing the meeting, there will still continue to hold the objective requirements of the next meeting. Otherwise, you can not say the meeting was successful. so we made a conclusion when the sermon, the financing of the three-day Fair was successful, but the end of this meeting is the beginning of the follow-up services, but also to provide long-term future of professional services.
access by governments to implement the basic tools of financial management, reform and innovation is an important prerequisite for access
and Information Network: We want to be an extension of topics. harmony will do a series of Tianjin, we compare the financial layout is easy to see, as we are concerned about the financial aspects of Tianjin, what kind of ideas, from the State Department the 20th year after the release of documents, Tianjin, the main job of financial reform and innovation of those things?
Cui Jindu: Ninth Tianjin Party Congress, held recently put forward a comprehensive implementation of the CPC Central Committee and State Council Strategy deployment, to further accelerate the development and opening of Tianjin Binhai New Area, the first to realize the harmonious development of the development of scientific development goal. According to the central deployment, the Tianjin municipal government has developed an overall comprehensive reform pilot programs, one of the content of the financial reform and innovation, including the expansion of direct financing, implementation of integrated management pilot projects, establish a modern financial service system, improve and perfect the financial service environment. the State Council approved the overall plan of Tianjin, the city will become a comprehensive financial reform and innovation to promote the principles and basis of the work.
and News Net: Could the progress of work to do on the specific description?
Cui Jindu: current progress can be divided into three cases. The first is that some things are made, and such as the Bohai Industry Investment Fund and fund management companies, SME financial services companies, international financial services companies. Second, several programs have been reported to the State authorities, is the approval process. The third is the number of programs have been developed and is ready to declare. the community of financial reform and innovation in Tianjin a high degree of concern, many units have set up agencies in Tianjin, and some organizations are actively planning or implementation. We must actively create conditions to actively seek the relevant state departments for approval as soon as possible, so that the specific results of the program become a reality as soon as possible. < br> and telecommunications networks: Some experts put forward some proposals, like the State Council Development Research Center, Xia Bin, director of finance proposed, can not be delegated approval authority Binhai New Area, a pilot, Tianjin have any consideration?
Cui Jindu: You talk about a larger topic, in fact, the question of access. For access to approve the issue, had also explored, but it is unlikely that decentralization of approval authority. Insurance Regulatory Commission to determine the insurance industry in Tianjin as the comprehensive reform test area, the city submitted to the CIRC the implementation of the program, the CIRC is actively review and examine changes, forming a perfect solution for implementation. Overall, the financial sector is special, governments have strict requirements , but also to the implementation of prudential supervision. Our mission is, in the active support of relevant state departments, improve testing and comprehensive reform pilot, fighting in some areas to facilitate, or provide more generous access. < br> and News Network: In addition to access issues, the Binhai New Area, the main difficulty of financial reform and innovation is what?
Cui Jindu: financial reform and innovation are generally related to market access, which means that the financial reform and innovation implementation of specific organizations, market players need to access approval. countries for policy support, promote financial reform and innovation is a big advantage. but in the financial markets and internationalization of the development process, the key to market access, is the various specific programs to reflect the reform and innovation. Central decided to accelerate the development and opening of Tianjin Binhai New Area, approval of the Binhai New Area as a national experimental zone for comprehensive reform package, as required to accelerate the financial reform and innovation, to explore solutions to institutional and institutional issues. in accordance with the requirements, design Every financial plan should be a lot of research and demonstration to develop practical and creative solutions, and implemented the relevant subjects should be organized until the substantive results, the need to take a long time and a lot of energy. In this perspective, reform and innovation is an important prerequisite for access. Even financial institutions in product development, customer service, marketing, marketing models, etc. are routine aspects of reform and innovation, but also need to research the complex process of implementation. < br> not create a financial center in Tianjin reference
and Information Network: Construction is now the north of Tianjin not mention the reference to the financial center, which is what to consider in it?
Cui Jindu: The State Council approved in 2006 Tianjin urban development planning, requires construction of an international port city of Tianjin, northern economic center, ecological city. Earlier, the city established financial development objective is to build an important economic center in the North adapt to a modern financial service system. Recently, the government held the city's financial work conference, identified the next few years, health and safety of the financial sector continued to accelerate the financial reform and innovation development and the guiding ideology, overall objectives and major tasks, the North proposed the building of economic development and opening of Binhai New Area Center and adapt to the modern financial service system and national comprehensive reform pilot area. Finance is the core of modern economy, finance is one of the important functions of the State, the financial center of the national arrangements and national layout. China's major financial institutions in Beijing, major financial markets in Shanghai, the state finance center has a clear overall planning and arrangements. everywhere, to develop the financial services industry, but hopes some financial institutions through the establishment of financial centers to form the idea is unrealistic.
and Information Network: This meeting When there is a beautiful album, introduction of Tianjin's financial institutions. want to introduce the development of legal institutions.
Cui Jindu: Tianjin attaches great importance to financial work. Not long ago, financial work conference held in the city, summed up 2002 Since the second national financial work conference of financial reform and development achievements and experience, the deployment of the next few years the work of financial reform and innovation. In general, financial institutions, especially in recent years, corporate organization has made significant progress, including the establishment of a number of banking, insurance, securities, futures, factoring, leasing, finance companies, funds and corporate institutions, including financial, to lay the foundation for financial reform and innovation. These legal institutions, both market players and also the main innovation. However, the existing legal few institutions, mostly in the early stage of development, the market is not the layout of the range, innovation is not strong enough, and some areas still blank. Therefore, an important task for future work is the development of various types of financial institutional support of various financial corporate sector reform innovations in institutional mechanisms, organizations, products, services and market development breakthrough.
to solve the mismatch of financial and business issues
and information network: the financial capital of the industrial capital support issues Tianjin has no such plan what arrangements?
Cui Jindu: the basis for the development of industrial capital is the financial capital, industrial capital and financial capital is the combination of the necessary conditions for economic development. natural economy to a commodity economy and then to a market economy in turn developed the industrial capital, commercial capital and financial capital. market economy stage, the development trend of financial capital ahead of the obvious, is not only a basic industry, and is the leading industry to become the leading economic development and the basic elements of optimizing resource allocation. Finance Industrial development has lagged behind the performance is an important and does not match the industrial and commercial development, combined with close enough, and even the formation of two skins, so to make the two match each other and mutual integration. the work of previous years, most of the basic work, such as operating according to law and norms, improve asset quality and efficiency, coordination of scarce factors of supply and demand, and promote harmonious relations between finance and so on. Next to make financial capital and industrial capital to coordinate well, the establishment of long-term cooperation, interdependence and common development relationship. to establish and develop this relationship, we should do a good job at two levels. In terms of indirect financing, we have developed a lot of the credit community, to financial institutions, businesses and business organizations to build a platform three, as three of the credit combination, are no longer totally dependent on collateral pledged guarantee, making loans to a conventional product reflects supply and demand, market players as the basis for the formation of an equal partnership. in direct financing, a bond market, securities market and fund market, such as several direct finance market, relying on these markets, the development of direct financing products, the development of mutual equality between market players, so that the accumulation of economic activities generating the various elements of financial markets and capital markets.
and Information Network: Tianjin Bohai Industrial Investment Fund, established, is the financial capital and industrial capital combined platform. can not be introduced in this area, including its orientation and profit model.
Cui Jindu: Bohai Industry Investment Fund is a contractual fund duration is 15 years, to In the investment within 5 years. fund management companies are to select an item, for the early investment. funds to invest in strong growth is mainly the various industries and high rate of return, investment in broad terms, does not belong to a special investment fund; investment areas are mainly in Tianjin, part of which can be cast in the Bohai Rim region. investment model and profit model is the equity investment, the Fund generally invests in companies listed after the exit.
Tianjin TEDA will develop into a financial holding group
and News Network: Tianjin many tasks in the financial aspects of whether the commitment by the Tianjin TEDA?
Cui Jindu: TEDA was originally involved in the traditional competitive industries. Because of low barriers to entry, market players and more, in the low end in a completely competitive state, so difficult to play advantage. In recent years, TEDA has done in the development of a major adjustment strategy, positioning in the high-end developments in the field, in addition continue to shoulder the task of infrastructure construction, outside, mainly in resource-based development, financial as the main TEDA One industry, in banking, insurance, trust, securities, futures and other major financial sector have investments. in the future through the integration of resources, can develop into a considerable strength to the scarcity of resources as the main asset of the company.
and Information Network : the future will become a financial holding group?
Cui Jindu: conditions are ripe, you can integrate these resources.
development and opening of Binhai New Area has a distinctive characteristic of the times
and News Network: China's reform open for nearly 30 years, has made great achievements. If the Tianjin Binhai New Area and the Shenzhen Special Economic Zone and Shanghai Pudong New Area, a comparison of the external environment and internal factors that What kind of changes?
Cui Jindu: Tianjin Binhai New Area is the second Shenzhen Special Economic Zone and Shanghai Pudong New Area and the new economic growth pole. 80 years of development since the 20th century as the representative of Shenzhen Special Economic Zone, led the Pearl River Delta 90 .20 century development of Shanghai Pudong New Area, led the Yangtze River Delta and the National beginning of the century and accelerating the development of .21 Tianjin Binhai New Area development and opening to promote the development of the Bohai Sea region, regional coordination to achieve national development strategies. These three cities are located in the eastern coastal region of southern, central and northern, reflecting in turn promote the reform of China development strategies and the gradual deepening of the overall opening pattern.
the development and opening of Tianjin Binhai New Area has distinctive characteristics of the times. If you want to start phase of the starting point and a comparison of the three regions, then the development and opening of Tianjin Binhai New Area, there are three main characteristic. First, start a different basis. Shenzhen Special Economic Zone and Shanghai Pudong New Area early stage of development is basically a blank sheet. The Tianjin Binhai New Area has a considerable base value of 170 billion yuan to increase in 2006, has 140 million people , a port, oil and other large enterprises and foreign invested enterprises, international logistics, international shipping and industrial base. 8 new planning functional areas, the total development area of 680 square kilometers, has a huge space for development. Second, different policy direction. had the Shenzhen Special Economic Zone and Shanghai Pudong New Area, the regional implementation of a number of special preferential policies, focusing on gathering resources to focus on, as soon as possible economic advantage. The Tianjin Binhai New Area as a national comprehensive reform pilot area, focusing on reform and innovation and pilot, institutional mechanisms for the formation of advantages. Third, the development of different modes. Shenzhen Special Economic Zone development and opening up the background of the planned economy, development and opening of Shanghai Pudong New Area, the background is a planned commodity economy, the development and opening of Tianjin Binhai New Area Background of the socialist market economic system, to achieve the harmonious development of the lead in development of scientific development, to establish and improve the socialist market economic system exploration experience. development and opening of Tianjin Binhai New Area has been the support of the Central and the whole nation, we should seriously study the Shenzhen and Shanghai and the regional experience, comprehensively implement the scientific concept of development, standing on the achievement of national participation in economic globalization and the overall strategy for coordinated regional development level, improve the development and opening of Binhai New Area.
recognize their own strengths to be a good place
and information network: the development of Binhai New Area is proposed in order to promote balanced regional development, then the city of Tianjin, how to coordinate with relevant, how to locate?
Cui Jindu: Each region has a certain economic base, hence economic base in order to show the specific unique advantages. to Beijing, Tianjin and the Bohai region, the provinces of the two cities have their own advantages. Beijing has a unique economic advantage. Tianjin has certain economic advantages, integrated support of national advantage of the policy reform pilot area. Liaoning Province, is implementing the five line development strategy, with the revitalization of old industrial bases in Northeast China's policy advantage. Caofeidian in Hebei Province is developing economic zone, has just discovered the oilfield will be the formation of metallurgical, Heavy and other new economic advantages. coastline of Shandong Province, the three industries are developed, a large economic volume, economic advantage is obvious. provinces location between the two cities is different in different economic base, industrial structure is different, each with different advantages, especially in the industrial structure, there is not much overlap in the content, each play to our strengths complement each other to form a space and great potential. Therefore, the location of Tianjin to play, resources, ports and other economic advantages, better use of the comprehensive reform test policy advantages of both provinces and municipalities to accept the radiation driven services as well as provinces and municipalities to provide services so that we can identify their own development orientation.
Tianjin has the unique advantage of personnel training and information network
: these two days has just announced that the State approved the establishment of Chongqing and Chengdu national comprehensive reform pilot urban and rural areas. you are not feeling the pressure to speed up development?
Cui Jindu: It is reported that the previous paragraph, some provinces City application to the Central Committee to strive for comprehensive reform package test. I saw online about urban and rural areas of Chongqing and Chengdu, the report comprehensive reform pilot. As China has a vast, local development is not very balanced, so the decision is much room for development the development of the task is arduous, but the focus of development will have to be focused according to their own circumstances. States have ratified the two cities for comprehensive reform pilot urban and rural areas, which is under the guidance of scientific concept of development, to further accelerate the overall strategy for regional coordination and urban and rural important deployment. since the Sixteenth Congress the Party, the National People depth study and implementation of scientific concept of development, the formation of a competing development trend, the core meaning is to the economic management system and effective mode of economic growth to the track of scientific development. Therefore, We should learn from the experience of over further enhance their sense of responsibility and urgency, improve comprehensive reform experiment, the first to realize the harmonious development of the scientific development goal of development.
and Information Network: Throughout the development of Shenzhen and Shanghai, including the development of Hainan there is a very important phenomenon, whither all the talent to run the country, feeling flourished as a venue. Tianjin in talent and popularity have not changed? have not the same as in the past that stage of development, human resources are crowded into this? < br> Cui Jindu: time is characterized, there are a few regional hot spots, mainly relatively fast economic development, institutional mechanisms to compare living, including a lack of talent in some areas of the elements. the current situation and then compared to the situation should be said that great changes have taken place, such as the role of market allocation of more personnel, and personnel supply and demand improved significantly, higher levels of coordinated regional economic development, and so on. Tianjin, and basic history of the development, first as the center of the Grand Canal inland water transport, ports later in the north, followed by the rise of the Westernization Movement and various types of military-industrial industry, this time back in the Late Qing Dynasty was formed to industrial, commercial, financial and international trade led the center of the city. including the new education is the earliest established in Tianjin, such as the Nankai Middle School, Northern College (now Tianjin University), and Nankai. Tianjin's industrial structure is better, relatively complete industrial categories, in addition to part of the mineral resource industries, other categories of industries and has a modern manufacturing base in Tianjin. white collar and blue-collar talent, a lot of universities and research institutes. Tianjin University is the first dual-degree institutions, both graduates of vocational technical expertise, but also Teachers in Vocational and Technical expertise. German training center in training senior blue-collar workers have played a special role. As for the convergence problem of the high-end talent, one needs to build more institutions, build a stage for high-end talent to display their talent; a aspects of the market played the basic role of personnel deployment, and create a business to attract talent officer outside environment. talent issue is always the most important regional development issues, so we need more in this respect the results of the action and more to accommodate further accelerate the development of demand for talent.
and Information Network: Then just this issue, Tianjin is a blue-collar economy is very developed area, is now engaged in finance, then blue-collar white-collar economy and an economy with, in fact, on the industry's financial support them in the planning of Tianjin, there should be a manifestation of it?
Cui Jindu: for example finance, the first thing we have conceptualized. Nankai relatively strong financial professionals, several cities in the southern economic development process, Nankai University graduates are an important resource. Nankai University School breakthroughs in several areas, such as China opened the first actuarial profession, not only trained many students, but also become the country's industry leading actuarial team. Tianjin, China attracted many outside professionals, but also to transport a lot of talent at home and abroad. blue-collar and white collar workers are matched and mutually supportive relationship. Even in the white collar area, nor are high-end, while others are low-end, or are blue-collar and white-collar pattern matching. such as financial institutions are generally white-collar workers as the main body, but the computer entry, outsourcing services, counter services, there must be a large number of blue-collar. and in traditional industries and manufacturing, in addition to blue-collar workers, the growing need for white-collar workers , and the composition and proportion of white-collar workers gradually increased.
and News Network: Because of time, today we talked about here, Xie Xiecui acceptance and hearing the interview the mayor.