曹开虎

Cao open tiger

　　中国水务领域的市场化改革在2008年被明显地一分为二。

China water sector of market reform in 2008 was obviously in two。

　　在2008年以前，民资、外资、上市公司蜂拥而入水务领域，频繁出现高溢价并购案，水务市场化改革突飞猛进。然而，这个曾经一度非常开放的市场，在2008年金融危机之后突然收紧。

In the 2008 years ago，what、foreign、The listed company swarmed into the water sector，Frequent mergers at the high premium，Water marketization reform by leaps and bounds。however，The once very open market，In the 2008 years after the financial crisis suddenly tighten。

　　北京一家环保公司的总经理告诉《第一财经日报》，现在水务领域越来越难进入了，到全国各地投标，“陪标的居多，中标的很少，地方政府越来越倾向于将项目划给央企或大型水务局。”虽然市场上偶尔还会传出一些BOT（转让—经营—移交）项目，“但中标的几率低了许多。2005年左右是真的招BOT，现在很少了。”该公司一位管理层告诉记者。

A Beijing environmental protection general manager of the company told《The first financial daily》，Now more and more difficult to enter the water sector，Bid to all over the country，“Majority with mark，Bid rarely，The local government will more and more apt to scholars from renmin or large project row water authority。”Although the market occasionally spread some BOT（Transfer-business-hand over）project，“But the reduced risk of many。2005 years is really recruit BOT，Now the little。”The company a managers told reporters。

　　近日，住建部出台《进一步鼓励和引导民间资本进入市政公用事业领域的实施意见的通知》（下称《意见》），让他们再次看到了些许希望。但是，多位业内人士还是表示，《意见》对于水务等公用事业行业的市场化改革实际操作性仍待突破。

recently，Live JianBu issued《Further encourage and guide the private capital into the municipal public utilities in the field of the notice of the implementation opinions》（Said the《opinion》），Let them again to see some hope。but，Many insiders or said，《opinion》For water utilities industry such as the market reform remains to be operational breakthrough。

　　曾经的市场化 Once the marketization of

　　中国水务市场化改革肇始于2002年。

China's water marketization reform began in 2002。

　　大岳咨询公司总经理金永祥接受本报采访时表示，2002年底，原建设部颁布了《关于加快市政公用行业市场化进程的意见》，允许并鼓励不同性质的市场主体进入水务市场，从而拉开了城市水务市场化改革的序幕。全国各地纷纷出台配套政策，掀起了一波水务企业市场化改革的高潮。

Yue consulting company general manager JinYongXiang accept our newspaper said in an interview，By the end of 2002，Promulgated by the ministry of construction《The municipal utilities industry on speeding up the process of market opinion》，Allow and encourage different nature of the market main body into the water affir market，Thus opened the city water marketization reform began。All over the country governments put forward corresponding policy，About in a wave of the market-oriented reform of water enterprise climax。

　　政策出台的第一年，全球最大水务巨头威立雅就率先以超过净资产3倍的溢价，收购了上海浦东自来水公司50%的股权，并借此获得了长达50年的特许经营权。

The first year of policies，The largest giant veolia water will take the lead in with more than three times as much as the net assets of the premium，The acquisition of the Shanghai pudong tap water company 50% of the equity，And like to take this opportunity to get the franchise for 50 years。

　　此后几年，企业高溢价并购地方水务公司案频繁出现。尤其是2007年1月，威立雅又以17.1亿元的投资承诺、4倍的溢价收购了兰州供水集团45%股份，远远超出同时竞标的中法水务和首创股份(600008,股吧)的报价，后两者的报价分别仅为4.5亿元和2.8亿元。

Then a few years，Enterprise high premium m&a place veolia water frequent case。Especially in January 2007，Veolia and with 1.71 billion yuan investment commitment、4 times the premium acquired 45% stake in lanzhou water supply group，Far beyond the bid and sino-french water and pioneering shares(600008,Shares it)offer，Both offer only after the respectively for 450 million yuan and 280 million yuan。

　　也是从2007年开始，各地水价纷纷上调，于是公众及媒体将矛头无一例外地指向水务企业的市场化改革。外资水务集团高溢价收购项目，更是成为另一个争论的焦点。

Also since 2007，All have raised the price，So the public and media will veer toward the water enterprise without exception of market reform。Foreign water group purchase high premium items，It is to become another point of contention。

　　2007年9月3日，全国工商业联合会环境服务业商会发布一纸《关于城市水业资产溢价转让行为的公告》，指责这种高溢价收购行为，认为公众今后一段时期必须要为水业资产的溢价收购支付超额的水费。

September 3, 2007，The national federation of industry and commerce environment services to publish a paper of chamber of commerce《About urban water industry assets premium transfer behavior announcement》，Accused the high premium purchase behavior，Think the public for a period for water industry assets must be the premium payment of the excess water acquisition。

　　而从2009年开始，威立雅在中国几乎再无斩获。

And from 2009 to，Veolia in China, almost no gained ground。

　　尽管如此，过去10年的民间资金还是给水务市场带来了新鲜血液。据清华大学水业政策研究中心主任傅涛介绍，过去几年，在城市化高速发展的背景下，水务投资资金总量问题得到一定程度的解决。据不完全统计，十年来，中外投资公司在中国水务市场的资金投入总额约1000亿元。

Even so，In the past 10 years of private funds or the water affir market has brought fresh blood。According to tsinghua university water industry policy research center director FuTao introduced，In the past few years，In the background of urbanization development，Total investment capital water problems can be a certain degree of solution。According to not complete count，Ten years，Chinese and foreign investment company in China water affir market of money into a total of 100 billion yuan。

　　阻碍仍在 Block is still in

　　但是，政策的推进并没有让自来水公司走出困境。

but，The policy of not to make the company out of trouble。

　　6月29日，国家发改委副主任杜鹰在出席十一届全国人大常委会第二十七次会议时承认，由于水价改革不到位，目前30%的城市自来水厂亏损，四分之一的污水处理厂亏损，缺乏资金进行技术改造、维修、护理，很难使城乡群众喝上放心和安全的饮用水。因此，必须进一步推进水价形成机制的改革，逐步实现水价到位。

June 29,，The national development and reform commission, deputy director of the DuYing in attendance 11 th National People's Congress standing committee meeting admits，Because water price reform is not in place，Currently 30% of the city's water supply plant losses，A quarter of the sewage treatment plant losses，Lack of money technical reform、maintenance、nursing，It is difficult to make urban and rural people drink trust and safe drinking water。so，Must further advance the reform of water price forming mechanism，Gradually realize water price in position。

　　自来水公司的亏损，主要是缘于市场化改革的停滞。“也不能说停滞，但是的确这几年来，BOT项目少了很多。”济邦咨询总经理张燎告诉本报。

The company's losses，The main market is due to the stagnation of the reform。“Also cannot say that stalled，But does it for several years，BOT project a lot less。”The general manager zhang consulting has told the head singed。

　　上述环保公司管理层透露，现在到地方去投标，真正招标的项目很少，许多都直接划给了水务局，另外，即便中标了，民企融资也很困难。

The environmental protection company management has revealed，Now to place bids，For projects that really very little，Many are straight to the water authority，In addition，Even won the bid for the，Corporation financing is very difficult also。

　　金永祥给全国大量的水务项目市场化改革做过咨询工作，他们统计了数十个项目后发现，经过市场化改革的项目，其建设、运营成本，要比原有的项目成本低20%~30%左右。

JinYongXiang to the national large amounts of water project marketization reform done consulting work，They statistics several items found，After market reform project，The construction、Operation cost，The original project than low cost 20% ~ 30%。

　　不过，反对水务市场化改革的声音依然存在。理由之一是，这会给政府带来麻烦，因为监管同样需要成本；另外，市场化改革会危及全国供水安全。

but，Against the sound of water marketization reform, still exist。One reason is that，This will give the government into trouble，Because supervision also need cost；In addition，Market reform would endanger the national water supply security。

　　实际上，2007年和2008年左右国内发生的两件事或许才是让水务市场化改革发生逆转的重要原因。

In fact，2007 years and 2008 years or so of domestic happened two things may be let water marketization reform reversed the important reasons。

　　据金永祥介绍，那两年掀起的“国进民退”大讨论和争议，从舆论上阻碍了公用事业市场化进程；其次，金融危机发生后，全国四万亿投资，地方政府大放债，政府财政变得雄厚起来，政府也不再愿意变卖水务公司。

According to JinYongXiang introduced，The rising of two years“Countries people back into”Big discussion and debate，From public opinion has blocked the utility market process；second，After the occurrence of the financial crisis，The country's four trillion investment，The local government big creditors，Government financial become rich rise，The government also is no longer willing to sell the water company。

　　上述参与《意见》制订的人士认为，有两大比较明显的问题制约公用事业的市场化改革。首先是住建部对市政公用行业的责任主体、投资主体并没有约束力，因为这些责任主体普遍在地方政府；其次是影响市场化改革的大趋势没有转变，现在地方政府都热衷于与央企合作，尽管政府总是不承认，但是“国进民退”的现象的确在许多领域存在。

In the above《opinion》Make the people thought that，There are two big the obvious problem restricting utility of market reform。First is live JianBu to municipal utility industry the main responsibility、The main body of investment and not binding upon both parties，Because the main responsibility of local government in general；Second is the effect of the trend of market reform no change，Now the local government is on to and scholars from renmin cooperation，Although the government is always not admit it，but“Countries people back into”Indeed the phenomenon in many areas there。