| From many countries’urban and rural development trajectory, we can see the tone and the main line of the urban and rural economic and social development:from integration to separation and then from separation to integration which can be expressed specifically as "township nurtures city-separation between urban and rural areas-antagonism between town and country-urban and rural integration."the Central Committee of the CCP about Advances Rural Reform To Develop Certain Major Issue Decision" passed on Communist Party of China’s17Third Session clearly stated that our country had entered as a whole the stage of industry promoting agriculture and driving township by urban, and also entered critical moment of accelerating the transformation of traditional agriculture, and agricultural modernization with Chinese characteristics. Our country had entered the important period of getting rid of the urban-rural dual structure and forming a new pattern of integration of urban and rural economic and social development. Urban and rural integration development is an important issue faced by China. The nature and functions of state-owned investment company has a special irreplaceable role in promoting the integration of urban and rural areas.The state-owned investment companies with government-funded status are state-owned assets investment subjects and business entities. Their core purpose is to implement the Government’s public functions, and they mainly engaged in the investment of infrastructure, basic industries and part of the pillar industries. Unlike general investment company, the shareholder of state-owned investment company is government. State-owned investment company is not only an organization of implementing government functions, but also with the nature of the firm. Therefore, it should operate base on the will of shareholder, implement the government intentions in market economy conditions, and engage in public infrastructure projects with strong externalities which are not engaged in ungrudgingly by general investment companies. Meanwhile, as a company, without the benefit assessment, the performance of the company’s operations will be difficult to measure, and if there is no profit, the sustainable management of the company is out of the question. Therefore, the profitability of the government investment company can not be ignored, but the earnings not only refer to the monetary benefits, but also refer to social benefits. On the premise of ensuring its public functions, it should pursue a certain level of monetary income. It is this dual nature of public welfare and profitability that makes state-owned investment company and the integration of urban and rural areas closely combine.Through comparative analysis of a large number of cases, we can see the strategic objectives of state-owned investment company promoting urban and rural integrated development are the following:First, to achieve strategic transformation from investing urban economic and social development mainly to simultaneous development of urban and rural community; secondly, to form gradually comparative perfect organizational system, working mechanism and operation platform of promoting urban and rural integrated development; thirdly, to form the main areas and business segments of promoting integrated development in urban and rural areas; fourthly, to gradually form investment and financing modes of state-owned investment company on promoting urban and rural integrated development; fifthly, government should establish sound institutional mechanisms and policies security system to support state-owned investment companies to participate in the construction of urban and rural integration; sixthly, to form environment and atmosphere in towns and villages of supporting the state-owned investment company to engage in promoting urban and rural integrated development.By case studies and comparative analysis of state-owned investment companies’investment in infrastructure, finance industry, policy-oriented industries and competitive industries, their investment operational patterns in promoting the integration of urban and rural areas include urban and rural infrastructure projects investment operational pattern, the urban fringe park construction investment operational pattern, investment operational pattern of the joint development of urban and rural industry, and agricultural industrialization projects investment operational pattern. In each mode there are several specific implementation modes. Thus, we established an investment and operation structural model of state-owned investment company in promoting urban and rural areas integrated development. This model can be interpreted as: government promotes government investment company to engage in investment and financing, construction and operation of public projects and operational items through policy-making support system, planning, publishing project guidelines and asset resources injection. The proceeds can be paid to government through the state-owned capital management budget channels, and government supports to help the two platforms of the government investment company engaged in the development and construction of new projects through the injection of asset resources. In this way, we can achieve positive interaction and cyclic development, thus narrowing the gap between urban and rural areas, and promoting the integration of urban and rural areas.The implementation of the investment and operational model of promoting the integrated development in urban and rural areas needs appropriate safeguards for the state-owned investment company. First, the state-owned investment company should conduct functional adjustment and institutional innovation; Second, governments should make support policy to reform the evaluation system of the state-owned investment company, considering the public welfare indicators and profitability indicators together; Finally, we should adjust and improve the functions of the government, and the government should co-ordinate urban and rural resources allocation and factor mobility, make urban and rural development planning as a whole, and innovate urban and rural integrated development environment. |
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