Research On Operating Mode And Operation Mechanism Of State-owned Capital Operating Companies

Since 1987,China's state-owned enterprise reforms have undergone such stages as planned economic restructuring,property rights system reform,and mixed ownership reform.At the Third Plenary Session of the 18 th CPC Central Committee,China proposed that a state-owned asset management model with "controlling capital" as the main means be implemented.Since the introduction of the policy,the central and local governments have successively established a number of state-owned capital investment companies to serve in key areas of national strategy.In 2016,the State-owned Assets Supervision and Administration Commission of the State Council identified Chengtong Group and Guoxin Group as two pilot companies of state-owned capital operating companies.After Chengtong Group was identified as a pilot enterprise,it conducted exploration on the operation of state-owned capital operating companies and achieved significant results.In this paper,through reviewing and combing relevant literature at home and abroad,based on the current background of China's state-owned enterprise management system reform,drawing on existing research results,based on a clear definition of related basic concepts,based on principal-agent theory,modern enterprise theory,etc.Based on the basic theory,taking Chengtong Group as an example,the case analysis method is mainly used to conduct in-depth analysis of the operating mode and operating mechanism of the Chengtong Group.Through analysis,summing up experience,revealing existing problems,and based on the existing problems,it has studied and discussed how to improve the operating mode and operating mechanism of Chengtong Group,and put forward corresponding suggestions for improvement.Finally,by summarizing the analysis and research on the operating mode and operating mechanism of the Chengtong Group,we obtained a general revelation that can provide a reference for the state-owned capital operating company to improve its operating model and operating mechanism.