Auxiliary business separating from Principal business and reform the auxiliary business is the certain way to realize the strategic adjustment for geographical distribution of the state-owed capital, enliven the auxiliary business and reallocate surplus personnel. Devious reform experience of the SOE proved that: the real goal for the reform is property. Diversification Property is the main direction and important content for the property reform for SOE auxiliary business. Only diversification property realized, the defect of property system for SOE auxiliary enterprise will be eliminated drastically. Therefore, agency cost will be reduced, client channel will be shortened, administration structure with full of prompting and restriction system will be established, and meanwhile the competitive power will be strengthened. This article followed the feature of the Construction auxiliary business discusses the property system reform of SOE in the following four ways: introduction of foreign capital, introduction of nongovernmental capital, employee stocks ownership plans (ESOPs), management buy-out (MBO). Meanwhile the author also analyzed some cases.The article discussed the above subject in five aspects. Section one is macro background. Section two is general theoretic description. In section three, the author discussed reform content and goal, system reform present situation. In section four, the author discussed the advantages and disadvantages of the property system reform of SOE in the following four ways: introduction of foreign capital, introduction of nongovernmental capital, employee stocks ownership plans (ESOPs), management buy-out (MBO). Section five is the cases. |