Research On The Reforming Effects Evaluation For The China’s State-Owned Enterprises’ Income Distribution Institution

The basic economic system in China is " To take the public ownership as the main body, and also to develop a variety of other ownership economics ", which has been established in the 15 th national congress of the CPC. The State-owned enterprises, as an important realization form of the public ownership economy in China’s economic and social development, has played a leading role in the process. The income distribution system is an important component to realize sustainable and healthy development for the state-owned enterprises.This paper, by constructing the income distribution system theoretical analysis framework which includes participation right, income right and guarantee right, combined with the existing researches to divide the reformation into four periods, that is "planned economy period(1949-1978), reform exploration period(1979-1992), reform breakthrough period(1993-2002) and reform perfection period(2003- present) ", makes the most use of the China’s industrial enterprise database range from 1998-2007, to calculate the elements of internal distribution of the state-owned enterprises according to the ownership, industry monopoly, region, scale, industry classification, next to measure the income gap between the state-owned enterprises and the non-state-owned enterprises, then using the Oaxaca-Blinder decomposition methods and inequality index to analyze the rationality of the income gap, and then to study the relationship between the labor remuneration and the corporate performance, finally to carry on the comprehensive analysis to the profit distribution system of state-owned enterprise. To sum up, this paper gets six conclusions.First, human capital is naturally attached to the laborer, it is laborers’ private property, unless it is his own choice, others can’t force him to work harder than now. Second, the state-owned enterprises relatively pay more attention to the interests of the workers than that of the non-state-owned enterprises. Third, the state-owned enterprises’ income structure is unreasonable, the wage is relatively low, the welfare is much higher. For a long time, the country has controled the total wages, which causes the state-owned enterprise worker’s basic wage is usually lower than that of the non-state-owned enterprises workers, but in terms of the welfare, the condition is opposite. This allocation results has failed to fully stimulate the motivation of the state-owned enterprises workers. Fourth, the profits payout rate for the state-owned enterprises is low. Through the figures, the profit income from the central SOEs is amounted to 746.5 billion yuan from 2006 to 2015, the net profit after tax is totaled 9.6 trillion yuan, thus the profit payout rate is 7.78%; The national state-owned and state holding enterprises profit income is amounted to 780.8 billion yuan from 2012 to 2015, net profit is totaled 7.04 trillion yuan, thus the profit payout rate is 11.1%, far lower than the developed countries that range from 20% to 20%. Fifth, the well-being expenditure from the state-owned capital operation is low. The well-being expenditure from the central state-owned capital operation expenditure spending is totaled 53.5 billion yuan from 2010 and 2014, the total expenditure of the central state-owned business is 463.9 billion yuan, accounting for 11.52%; In 2010 to 2014, the total expenditure of the state-owned capital operation expenses is 629 billion yuan, but the total well-being expenditure is only 59.7 billion yuan, accounting for 9.5%.Sixth, the profits of the financial state-owned enterprises should be brought into the state-owned capital management budget. The financial industry belongs to the oligarchic competitive industry, its return on capital is usually kept at a higher level, and its rate of return on average is higher than that of the industrial state-owned enterprises. Just taking the five big state-owned Banks, the sum of its net profit in 2015 reached 920 billion yuan, if calculated according to the first payout rate 25%, the five big state-owned Banks can provide 230 billion yuan in revenues, which can completely solve the problem of the current rural poverty population.Finally, around the right configuration, this paper puts forward relevant policy recommendations from the aspects of the state, the enterprises and the residents. The participation right for the state-owned enterprises should match the income right; The worker’s participation right should match the income right; The state-owned capital’s income right should match the residents’ security right.Compared with the other related research, the innovation of this paper is mainly reflected in three aspects: first, to take the justice distribution as an important measurement for the income distribution system. Second, to construct the right configuration system which includes participation right income right and security right. Third, to put forward the important concept of rights configuration to match.