Study On Beijing State-owned Capital Gains Quality Evaluation

The Third Plenary Session of the 18th CPC Central Committee points out that "we should take capital management as the principal matter,strengthen state-owned asses supervision,organize some state-owned capital operating companies,support state-owned enterprises with suitable conditions to reorganize state-owned capital investment corporation”.Beijing municipal government proposes that“we should strengthen state-owned capital yield management.Give guidance to intensify enterprises'construction of internal state-owned capital yield management systems,implement and safeguard state-owned capital equities.On the basis that state-owned enterprises finish their classified tasks,explore classified collection of state-owned capital gains,according to operating companies' experiments".Therefore,with the development of mixed ownership economy,researches on evaluation of state-owned capital earnings quality can provide some suggestions for Beijing state-owned enterprises' functionality adjustment.This helps to maintain and increase the value of state-owned assets,boost state-owned capital operational efficiency,and develop state-owned economy.Recalling the study of state-owned capital gains,scholars are more concentrated in collection,distribution,regulation of state-owned capital gains and state-owned enterprises category,few studies concentrated on the evaluation of state-owned capital gains quality.Therefore,the reasonable evaluation of state-owned capital gains can not only enrich the theory of state-owned capital gains,but also provides recommendations for the further development of mixed ownership economy and deepening reform of state-owned enterprises which has important theoretical and practical significance.This paper begins by an analysis on the present conditions of state-owned capital earning quality evaluations.Centered on present shortcomings of evaluations,the author of this paper believes that state-own capital earning quality evaluation should consider the features of state-owned earnings,as well as the profit and public welfare quality of state-owned capital.And state-owned capital earning quality evaluations should be made by capital operational platforms of state-owned capital investment companies and operational enterprises.As for the index construction of state-owned capital earning quality evaluations in state-owned investment enterprises,this paper classifies state-owned enterprises according to the classified supervision of their functional definition.The paper sorts these enterprises that focus on industry investments according to classification standard of Beijing government.There are four kinds,competition enterprises,civic public service enterprises and specific function enterprises,and evaluation index are made accordingly.Evaluations place extra emphasis on state-owned capital value preservation and increase,capital operational efficiency,social contribution,and technological innovations.As for state-owned capital earning quality evaluations index of state-owned operation enterprises,we should give special attention to state-owned capital value preservation and increase,and capital operational capacity.In addition,this paper selects H a Beijing state-owned capital investment enterprise as the sample,measures its index system,and evaluate its state-owned capital earnings.At last,I have some suggestions from the angle of government and third party,including that the government should make and develop industry policy and develop the relevant law and regulations and the regulatory system of state-owned capital.Giving play to the third party's regulatory role,providing authoritative and accurate reference in value evaluation,the returns number and other aspects.Using the social supervision by public opinion and people to give play to the regulatory effectiveness.