The Coordinated Development Research Of The State-owned Key Enterprise And The National Economy

Since the Sixteenth National Congress of the Communist Party of China, restructuring and the layout of State-owned Enterprise(SOE) enters a crucial stage of reform, the State-owned Key Enterprise(SKE) as the main force and backbone of our national economy takes a increasingly prominent role. Especially since the financial crisis, the SKE becomes China’s economic rebound from the stable mainstay. As an important economic livelihood of the composition, the SKE is the focus of macroeconomic regulation and control, the stability of the SKE directly related to the sustained, healthy and stable development of China. With China’s demographic dividend disappeared, foreign enterprises and multinational corporations were evacuated, the SOE including the SKE will release more value. Undoubtedly, the SKE is an important component of the national economyActually the relationship between the SKE and the national economy is not just a simple one between part and whole, but intrinsically close contact and relevance, the complex interaction between the SKE and the national economy, making government regulation and management of the SKE to become an extremely complex project. Therefore, to clarify the relations between the SKE and the national economy is a very important research topic to promote them have a coordinated and healthy development. Based on the theoretical analysis of relevant macro and the simultaneous equations model, macroeconomic model characterizes the mutual operations of the SKE and the national economy,it also link the two levels of data to figure out the quantitative relationship between economic indicators. This paper can be regarded as an attempt of macro-level and enterprise leve.And this paper analyses the coordinated development of the SKE and the national economy from the investment scale and salary (income distribution), corporate profits, credit-level and others. This has important theoretical and practical significance for improving macro-control and people’s living standards, building a harmonious society and promoting the healthy development of the SKE and the national economy. Based on the ownership structure of Chinese enterprise,this paper divise all the enterprises into the SKE, the SOE and the Non-state-owned enterprise (NSOE). Respectively,we add investment,profit of this three companies to the macroeconomic model,using the simultaneous equation model. Quarterly macroeconomic model established in this paper is divided into eight modules,they are production, consumption-income, investment, import-export, financial revenue-expenditure, credit, price indices and profit,This paper link enterprise-level data link with the macro-level data to simulate the macroscopic economic operation of the system.Firstly,We analyzes the impact of the monetary policy for example interest rate and the financial policy for example financial expenditure for the enterprises, then, judge the SKE play a role in the regulation and the impact of macroeconomic policies to the SKE.Secondly, by analysis of the central enterprises wage movements and changes in profits for the leading role in promoting macroeconomic. The paper concludes that:1. Interest rates and all kinds of enterprises’added value, investment, profits negatively correlated.The investment of the SKE is the most sensitive to changes in interest rates,the increase of the investment dose not proportionally reflect the various types of corporate profits.The profit of the SKE change the smallest,the profit of the SOE and the NSOE change the basic rate volatility,the SKE’s profit is half of the two types of enterprises. The main reason is the SKE entrusted with infrastructure investment and investment in social responsibilit, charged with a greater risk of developing costs and uncertainty, thereby reducing profits.2. The proactive financial policy is accurate for the economy. Increased financial expenditure makes the greatest increases of the SKE’s investment, profits also did not show a corresponding increase in the proportion. Lots of our national investment through the SKE, these investments are mainly concentrated in infrastructure construction and emerging industries, the greater the uncertainty and the first investment cost makes up the less SKE profit. These are not the SKE inefficient, but because it took a lot of social responsibility.3. The three types of enterprises’wage levels are positively correlated with their respective value added, profits and consumer. Increasing wage will bring inflation.The SKE to increase wage is the most obviously stimulating to the disposable income and the spending,it also role in promoting maximum to GDP and the fiscal revenue.The SKE’s increasing wage will make the healthy development of the national economy, and promote capital virtuous circle. A large part of these funds flow into NSOE, this making profits has been an upward trend. Different types of enterprises wage increase will lead to their profits have different performance, the SKE wage increase will lead to their profits first and then decreased,the SOE wage increase will lead to its profits fall, the NSOE wage increase will lead to its profits has been an upward trend. In the short term, wage increases will lead to increased cost of doing business so that the lower profits. In the long term, wage increases will promote the level of consumption increases, making corporate income increased by more than the rate of increase business costs, leading to increased corporate profits. Long-term effects of wage increases will improve living standards, improve China’s industrial structure, promote the sound development of the national economy.4.The rising profit of the SKE will lead to an increase in our national economy. Similarly this will lead the other two types of enterprises increasing profits, and its rate of increase is greater than the increase in the SKE’s profit.As can be seen from the conclusions, the SKE play the stabilized role of the regulation of macroeconomic policies. The SKE leading role for macroeconomic not be ignored. Because the central enterprises to shoulder more social responsibility, and its profits increased to a lesser extent.