An Empirical Study On The Restrictive Effect Of Policy Burden On The Implementation Of Mixed Ownership In Chinese Industry

Since the reform and opening up to the outside world,the process of economic system reform in our country has been a gradual developing process of "crossing the river by touching the stone".In the process of changing from planned economy to market economy,the reform of state-owned enterprises has become the main goal of market-oriented promotion.It mainly went through six stages: decentralization of power,devolution of power and transfer of profits,"switch from profit delivery to tax payment","government appropriations being replaced by loans",contract system of state-owned enterprises and the establishment of a modern enterprise system adapted to the socialist market economy system.Both the Third Plenary Session of the 18 th CPC Central Committee and the "Government work report" in 2014 made "active development of the mixed ownership economy" the top priority of the current reform of state-owned enterprises.The reform of mixed ownership was regarded as a kind of equity arrangement,it is not a new scheme in China,but up to now,the reform of mixed ownership is still faced with the problem of slow implementation.Therefore,the study on the restrictive factors of the implementation of mixed ownership reform has certain practical significance.Based on the database of China's industrial enterprises from 2009 to 2013,this paper demonstrates the restrictive effect of the policy burden in the process of the implementation of mixed ownership in China from a microscopic point of view.From the angle of policy burden stripping and property right reform,it provides policy support for the realization of mixed ownership in our country.In the process of empirical research,this paper mainly uses the large sample data to estimate the social policy burden and the strategic policy burden of the micro state-owned and state-owned holding enterprises,and constructs the econometric model to carry on the analysis.The social policy burden represented by redundant personnels in the policy burden hinders the entry of non-state-owned capital under mixed ownership,while the strategic policy burden brought by the national strategic demand is beneficial to attract non-state-owned capital.And the restriction effect of policy burden on the further implementation of mixedownership reform in state-owned and state-owned holding enterprises in China has industrial heterogeneity and regional differentiation.On this basis,this paper puts forward that the social policy burden should be stripped first.To properly protect and focus on the development of strategic policy burden,and systematically promote the process of mixed ownership reform policy recommendations.