Research On The Path And Effect Of The Reform Of Mixed Ownership Of CNPC Capital

The Third Plenary Session of the Eighteenth Central Committee of the Party proposed to actively develop a mixed ownership economy,allowing more state-owned and other ownership economies to develop into a mixed ownership economy.In the mixed ownership reform of state-owned enterprises,the research on the mixed ownership reform of central enterprises and their affiliated enterprises is of special significance.As a leading enterprise among state-owned enterprises,CNPC actively responded to the central government 's call to deepen the reform of mixed ownership of state-owned enterprises.Operation,completed the mixed ownership reform and the overall listing of China National Petroleum Corporation,providing a successful case for the mixed ownership reform of central enterprises and their affiliated enterprises.This paper studies the reform of the mixed ownership system of China National Petroleum Capital,the theme of which focuses on the path and effects of China Petroleum Capital's mixed ownership reform.Analyze the background of this mixed reform from the perspective of China's promotion of mixed ownership reform of state-owned enterprises and China National Petroleum Corporation's own development strategy,and analyze the causes of mixed reform from the perspectives of state-owned enterprises background,enterprises themselves,and industry-finance integration.,Paid cash to purchase assets and raised supporting funds,etc.,analyzed the process and path of mixed reform,and at the same time used financial indicators such as solvency,operating capacity,profitability,and growth to analyze the changes before and after mixed reform.Finally,through a brief analysis of changes in stock prices before and after mixed reforms,the capital market's response is briefly analyzed.This study found that: CNPC Capital has combined mixed reform with overall listing,business adjustment,etc.to innovate the path and method of mixed reform of state-owned enterprises;this mixed reform is in line with the spirit of the central government on mixed reform of state-owned enterprises.Strict governance and standardization of operation management have promoted the strategic transformation and overall development of the enterprise;the reform of the mixed ownership system and the overall listing of CNPC Capital have injected new vitality into the enterprise,financial performance has improved,and the market has responded positively.According to the research results,this paper proposes that when implementing mixedreforms,central enterprises and their affiliated companies must proceed from their own reality,carry out rigorous design and systematic planning,choose appropriate mixed reform paths and methods,and actively and steadily promote mixed reform work;In order to achieve equity diversification while improving the corporate governance structure,it is necessary to introduce strategic investors such as state-owned or private shareholders in different ways to enhance corporate governance capabilities,promote corporate strategic transformation,promote business adjustments,do a good job of resource integration,and form your own The core advantages and competitiveness provide guarantee for the healthy and sustainable development of the enterprise.