Research On The Alternation Of Government Functions During Business State-owned Enterpises' Reformation Under The Influence Of Capital Market

Since the reform and opening up,China's ownership structure has been developed from the single public economy into an economy with public ownership as the mainstay and multiple forms being developed side by side.By far,the diverse economic forms of ownership have achieved booming development in China;however,public ownership still plays an important role in China's national economy.State-owned enterprises,as the main part of national economy,have carried out many reforms with gratifying achievements,which stimulates a rapid development of national economy.However,what we have also made clear is that the restructuring and reform of state-owned enterprises presently are restricted by many factors.For a long time,reform of state-owned enterprises is described as economic inefficiency,ethically corrupt,monopolistic economy and excessive government intervention with lots of public attention,all of which has restricted the further development of state-owned enterprises.In view of the current situation of the development of state-owned enterprises.The government has put forward guidelines for classified reform.The state-owned enterprises are divided into "public welfare" and "business".For business State-owned enterprises in various fields of national economy,it is of great significance to solve these difficult problems and deal with the relationship among capital market,state-owned enterprises and government properly for a deepening reform of state-owned enterprises.Capital market plays a key role in the development of modern economy.So how to efficiently promote the reform of business state-owned enterprises with capital market? How to give play to government and capital market in the reform of business state-owned enterprises? These two issues are the key problem of the reform.China Oil & Foodstuffs Corporation is the largest Oil Group and agriculture products' processing enterprise in China with annual sales revenue of about 500 billion yuan.Company's total assets amounted to 530 billion yuan.As a large-scale state-owned enterprise and one of the first nine mixed-ownership enterprises with pilot scheme approved,it closely matters national economy,people's livelihood as well as national food security.During the reform,it is necessary for us to clarify the role of capital market,the policies and opinions issued by government,and government's role after the reform.In this way,it is of significant theoretical and realistic importance to understand the alternation of government functions during the reform of state-owned economy.I will first review on the history of state-owned reform and alternation of government functions.Later,combined with theoretical analysis,I will tease out alternation of government functions in the past and systematically elaborate the necessity and significance of alternating government functions.It also analyzes the role and interaction mechanism of business state owned enterprises,government and capital markets in the process of reform.Then I will list its achievements and faced difficulties during the reform by retrospecting on its development history and reform process with case analysis.At last,with development orientation of China Oil & Foodstuffs Corporation as the entry point,I will analyze main measures taken by China Oil & Foodstuffs Corporation during the reform,capital market's role in the reform as well as alternation of relationship among government,state-owned enterprises and capital market with systematic evaluation on their efficiency.On this basis,a new development orientation which can further deepen the reform of state-owned enterprises will be put forward such as Construction of Multi-level Capital Market,Redefinition of Government Functions and separation of ownership and management.I will also come out with my own suggestions combined with related theories and policies.In this paper,I will explore the alternation of relationship between enterprises and government during the reform of state-owned enterprises with concrete case study from the perspective of China Oil & Foodstuffs Corporation and theoretical analysis.However,due to the case study,the theory is relatively single,the relevant data is inadequate,the research and analysis that are carried out is one-sidedness.