Research On The Legalization Of Mixed Ownership Reform Of Competitive State-owned Enterprises

The Decision of the Central Committee of the Communist Party of China on Major Issues Concerning Comprehensively Deepening Reform adopted at the Third Plenary Session of the 18 th CPC Central Committee in 2013,clear the state-owned capital,collective capital,private capital cross-shareholding,mutual confluence of the mixed ownership economy is an important realization form of the basic economic system.In 2015,the Guiding Opinions on Deepening the Reform of State-owned Enterprises and the Opinions of the State Council on the Development of Mixed Ownership Economy in State-owned Enterprises clearly pointed out that the cross-shareholding and mutual integration of state-owned capital,collective capital and non-public capital should be promoted,and the mixed reform of state-owned enterprises should be promoted by classification and stratification.On June 30,2020,the 14 th meeting of the central comprehensively deepen reform committee reviewed and adopted the state-owned enterprises reform action plan three years(2020-2022),clear in the next three years is a key stage,the reform of state-owned enterprises should insist on and strengthen the party's full of state-owned enterprise leadership,uphold and improve the basic economic system,adhere to the reform direction of socialist market economy,grasp key,short,strong or weak,promote the optimization and adjustment of state-owned economy,strengthen the competitive power of the state-owned economy,innovation and control,influence,and ability to resist risks.It is foreseeable that the mixed reform of state-owned enterprises will enter a new stage of rapid advancement and substantial progress in the next few years.Mixed reform of state-owned enterprises is not a new thing,it is an extension of the past reform of state-owned enterprises,and a new judgment of the Party and the government on the direction of state-owned enterprise reform under the background of comprehensively deepening reform.With the deepening of the mixed ownership reform of state-owned enterprises,the CPC Central Committee and the State Council have issued a number of supporting documents,such as Opinions on Policies for Deepening the Pilot Mixed Ownership Reform of Central Enterprises and Operational Guidelines for Mixed Ownership Reform of Central Enterprises,forming the so-called "1+N" policy system for SOE reform.According to the statistics of Beijing Zhi Ben Entrepreneurship Management Consulting Co.,Ltd.State-owned Enterprise Reform Research Institute,by August 2020,the central ministries and commissions had issued a total of 192 SOE reform policies,involving state-owned assets supervision,SOE mixed reform,property rights management,medium-and long-term incentives,corporate governance,tax policies,etc.,and 1,488 reform policies of local SOE had been issued by the provinces.Central and local governments of various policy documents,and to some extent guided mix change rules in the state-owned enterprises,however,compared with the rule,policy has obvious short-term and ups and downs,wants a new round of reform of state-owned enterprises by means of mix to achieve expected results,the rule of law leads to ensure essential,this is in line with the spirit of law-based reform emphasized by General Secretary Xi Jinping.In the new stage,how to "mix capital" and smoothly introduce Non-public capital investors,and how to "reform the mechanism" to form a mixed ownership enterprise governance structure with separation of powers and checks and an efficient state assets supervision system are the two major issues facing the mixed reform of state-owned enterprises.Under the background of market-oriented classified reform,as a breakthrough and key to the mixed reform of state-owned enterprises,the mixed reform of competitive state-owned enterprises is bound to face these issues.Based on this,this paper plans to study the mixed competitive state-owned enterprises as the object,carefully sorted out the difficulties in the operation of the "mixed capital" process and "change the mechanism" inside(corporate governance mechanism),outside(state-owned assets supervision system)governance mechanism,trying to use the law as an institutional tool outside of policy to give solutions,realize the rule of law in the mixed reform of competitive state-owned enterprises.The first chapter mainly discusses the competitive state-owned enterprises mix to the basic theory,explains the system of ownership,ownership,property rights,mixed ownership,joint stock system,the joint stock cooperative system,competitive state-owned enterprises and related concepts such as mixed ownership reform,also analyzes the necessity of mixed reform of competitive state-owned enterprises from both domestic and international perspectives,at the same time think the dialectical relationship between the rule of law and the reform,the market economy is essentially the rule of law economy,and the comprehensive view of the rule of law of the two-way promotion of policy and law constitute the theoretical basis of the mixed reform of competitive state-owned enterprises.From the second chapter to the fourth chapter,the possible difficulties in the mixed reform of competitive state-owned enterprises are sorted out and summarized from different perspectives,so as to put forward targeted legal suggestions: the second chapter mainly sorts out the difficulties in the process of "mixed capital",including different "mixed" modes such as overall listing,merger and reorganization,convertible bond subscription and employee shareholding,different "mixed capital" forms such as private capital,collective capital and foreign capital,as well as different "mixed capital" procedures such as decision-making approval and pricing evaluation;the third chapter summarizes the operational difficulties of the internal governance mechanism(corporate governance mechanism)under the "reform mechanism",including control,decision-making,management,supervision and so on;the fourth chapter summarizes the operation difficulties of the external governance mechanism(state-owned assets supervision system)under the "reform mechanism" from the aspects of state-owned assets supervision and state-owned capital investment and operation companies.The fifth chapter based on the process dilemma of "mixed capital" and the operation dilemma of "reform mechanism" sorted out above,combined with the reality of the mixed reform of competitive state-owned enterprises,this paper puts forward the rule of law principles of clear property rights,autonomy of meaning and equity of interests,gives targeted legalization schemes in the two aspects of "mixed capital" and "reform mechanism",and comes to the following concluding suggestions:at present,the Regulations on Promoting Mixed Reform of Competitive State-owned Enterprises should be issued in the form of administrative regulations on the basis of absorbing the spirit of existing policy documents,so as to take into account legal documents at different levels,at the same time,Corporation Law was amended to add a chapter on "state-owned companies",make comprehensive adjustments to wholly state-owned,holding and joint-stock companies,based on the separation of supervision from the responsibilities and functions of investors,the Law on State-owned Assets of Enterprises,the Interim Regulations on the Supervision and Administration of State-owned Assets of Enterprises and the Measures for the Supervision and Administration of the Transaction of State-owned Assets of Enterprises are revised to achieve a comprehensive standardization of "capital" and "assets".