A Study On The Mixed-ownership Reform Of State-owned Enterprises

With the development of China's economy,state-owned enterprises have become the backbone of the national economy.However,there are still many problems in operation of state-owned enterprises(SOEs for short),which become a breakthrough in deepening reforms.The Third Plenary Session of the 18 th CPC Central Committee put forward to “developing a mixed ownership economy” in order to set a clear direction for the reform of SOEs;SASAC and other relevant departments issued a series of policies for this reform;In the government work report of 2018,"actively and steadily advancing the reform of mixed ownership system" has become an important part of "deepening reform in basic and key areas",which set the tone for the next stage of reform.Therefore,it is of great practical significance to study the path design of mixed ownership reform of SOEs.At present,scholars mostly study this reform from the perspectives of reform objectives,forms of participation,interest protection and institutional guarantees,while less attention is paid to the industrial structure.Therefore,this paper starts with the setting basis of industry classification criteria,and after classifying the mixed ownership reform of state-owned enterprises,it gives the path optimization ideas and suggestions for the reform of state-owned enterprises' mixed ownership system.This thesis works at the following three studies: First of all,to determine the specific classification criteria is put priority.The micro indicator regarding industrial synthetical efficiency,the middle one regarding industry position,and the macro regarding economic cycle are comprehensively considered to quantitatively analyze the performance differences of SOEs.Then,to figure out critical control points is put second.The critical control points for the industrial synthetical efficiency index are asset turnover rate and long-term debt cost;those points for the upstream industry index are asset specialization and business competitiveness;those for the economic cycle index lie in the orientation of SOEs.Finally,to devise the specific path design is put third.In the first place,in order to improve the operational efficiency of SOEs,the path is devised to complete the classification assessment system and establish a neutral competition rule,that is,the assessment for the upstream industry focuses on control and that for the downstream industry focuses on neutrality.In the next place,in accordance with the orientation,businesses should be restructured to enhance control,the path is devised to establish a unified trading market and regulate the process of changes in property rights,that is,the setup of trading market and leasing market for the upstream industry is to reduce the degree of asset specialization and the separation of main businesses from auxiliary ones for the downstream industry is to enhance business competitiveness.In the third place,according to the clear definition of the SOEs' operating goals,the path is devised to specify the orientation of SOEs and limit their independent expansionary decision,that is,the setup of a "network + interface" pattern for the upstream industry is to accomplish platform construction and that of a "main businesses + auxiliary ones" pattern for the downstream industry is to separate main businesses from auxiliary ones.In the last place,the path is devised to optimize the departments' cooperative mechanism for the success of this reform.