A Study On The Roles Of Government In The Reform Of State-owned Enterprises Under The New Normal Background

During the transition period of China,economic development has entered a new normal that the economic growth rate has slowed down,which makes the adjustment of industrial structure become an imminent task.As a pillar industry of China's economy,state-owned enterprises face a new round of reform under the new normal background.The success of China's industrial structure adjustment and economic development trend in future depends on the success of the reform.In 2015,the CPC Central Committee and the State Council have printed and distributed the Guidelines on Deepening the State-owned Enterprise,as well as the “1+N” document system and related rules promulgated in 2016,all of which from new plans and construction plans for the reform of state-owned enterprises.In the new round of state-owned enterprise reform,the government should accurately locate the role in the reform and play the various functions actively to promote the healthy development of state-owned enterprises,based on the natural connection between the government and the state-owned enterprises.Considering the current situation of the reform of state-owned enterprises in China,this paper analyzes the role and functions of the government during the reform of state-owned enterprises in the new period,and seven major problems are found out such as duty-confused problems in government and corporate,government's improper adjustment on state-owned enterprises and private enterprises.According to the theory of "meta-governance",the government is the coordinating sector in the tripartite co-governance,but its duty is not to take the whole control,but to give full play to its unique advantages which are superior to these of the market and social citizens.As a system designer and development planner,the government should ensure that the entire social system enjoys continuous improvement and development in a better system.Therefore,according to the experience of Singapore's "Temasek" model and the policies of the 18 th session meetings,this paper puts forward the following suggestions on the targeted position and role of government in the reform of state-owned enterprises under the new economic background:(1)to streamline administration,delegate powers and take the initiative to change its role;(2)to introduce social capital so as to develop mixed ownership economy;(3)to promote the internal incentive mechanism reform of the state-owned enterprises on the basis of legal norms;(4)to improve the operation rules of the market to create a better market environment;(5)to promote the transformation and upgrading and to improve the development of new driving forces.The paper finds that the role of government should change from the micro-management and regulation to the macroeconomic management and regulation in the process of SOE(State Owned Enterprise)reform under the new normal background.According to the "Metagovernance" theory,government should strictly follow the characteristics of the new normal economy,actively changing its roles,clarifying the relationship with the market,fully respecting the laws and rules of market economy and the development of state-owned enterprises,as well as cooperating with other subjects in the governance system to fulfill its obligation so as to create a good environment for the reform of state-owned enterprises,and to orderly promote the market process.