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The Further Study On Mixed Ownership Reform Of State-owned Enterprises Of Chinese Oil Industry

Posted on:2017-04-28Degree:MasterType:Thesis
Country:ChinaCandidate:Y HanFull Text:PDF
GTID:2309330482993767Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
The eighth session of the Third Plenary actively encourage state-owned enterprises to do mixed ownership reform, state-owned enterprises for the oil industry pointed out the direction of reform. Mixed ownership reform of state-owned enterprises, can through the introduction of different ownership of capital to optimize the structure of property right of enterprise, market-oriented, establishing modern enterprise system, improve the company’s internal governance structure, improve the production efficiency of state-owned capital, so as to improve the ability of state-owned capital value. Oil as an important strategic resources, its development is directly related to the safety of the national economy, so the oil industry in the process of developing mixed ownership reform should grasp the careful, orderly principle, gradual advance the reform process.This article discusses the concepts of mixed ownership, analyze the theory of property rights and market performance outlook for the oil industry mixed ownership reform of state-owned enterprises applicability determine the Chicago School theory for guiding the oil industry mixed ownership reform in practice meaning that no matter what market structure, as long as the market performance is good, then there is the existence of its rationality, the government can’t blind to break up the monopoly market structure or interfere in enterprise’s market behavior of the enterprise. Through the analysis of the oil industry market structure, market conduct and market performance, we recognize the oil industry several problems, concluding the administrative monopoly is serious, single property rights, state-owned shares a big alone, imperfection of corporate governance structure and so on. It is necessary to carry out its mixed ownership reform to solve these problems. At present, Sinopec Group chooses in downstream link introduction of no more than 30% equity, Petro China Co Ltd selects in the upstream of xinjiang oil field introduction of no more than 49% equity, and it exposes some problems in the process of reform, concluding single property rights, lack of differentiation reforms and so on. Meanwhile, we must draw on the reform experience of the reform in Brazil, Britain, Norway. The trends and the future reform direction is, first, wo should insist the dominant position of public ownership economy; second, from the perspective of government, empowering the state-owned oil company, to continue the practice of separation of administrative management, innovativing state capital regulatory model, improving relevant laws and regulations, to create conditions for mixed ownership reform; third, from the business perspective, the reform process should be divided, the introduction of effective competition mechanism, the state capital equity initiative of private enterprises, and encouraging employees to managerial ownership, improving the corporate governance structure.
Keywords/Search Tags:Mixed ownership reform, Oil industry, State-owned enterpry, Property-right
PDF Full Text Request
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