Research On The Path And Mechanism Of The New Round Of Mixed-ownership Reform Of State-owned Enterprises

In 2013,the Third Plenary Session of the 18th CPC Central Committee was held to raise the mixed-ownership reform to the height of China's"important form of basic economic system"and further establish the status of a mixed-ownership economy.So far,the reform of state-owned enterprises has entered a comprehensive deepening stage and a new round of mixed-ownership reform has begun.From a macroscopic point of view,mixed-ownership is a necessary way to integrate various types of ownership capital and achieve complementary advantages,thus promoting a win-win situation between the state-owned and the private economy.From a micro perspective,mixed-ownership is an effective mechanism that can achieve a diversified equity and construct a reasonable Governance structure by introducing non-state-owned shareholders.Mixed-ownership reform in the new era is the main connotation of China's economic system reform.The difference between the mixed reform at this stage and the reform of the first three stages is worth studying.Therefore,this paper starts from the characteristics of the new round of mixed-ownership reform,studies where its "new" is,focuses on introducing and discussing the path and mechanism adopted by the mixed reform in the new era,and analyzes the scope and risks of the mixed reform,and based on the practical experience of the case company,provides theoretical reference and practical guidance for the current state-owned enterprise mixed ownership reform.The specific research ideas are as follows:First,combine the research results of the current mixed reform at home and abroad,briefly reviewe the process of state-owned enterprise reform,and make some overviews of the macro and micro motivation of the mixed reform.Secondly,focus on the characteristics of the new round of mixed-ownership reform,analyse of the scope of the mixed reform,path and mechanism,point out that it is necessary to formulate a suitable model according to the nature of different enterprises;In terms of path,put forward to introduce appropriate strategic investors and implement employee stock ownership in the new period;emphasize that in order to make sure the effective implementation of "mixing",pay attention to the construction and improvement of relevant mechanisms such as corporate governance and financial management;With the continuous improvement and adjustment of the policy,there are also some risks that need attention and prevention during the reform process,including three levels of state-owned enterprises,employees and private enterprises.Then,analyze the path,mechanism,implementation effect and risk response of the case company China Unicom,and summarize the experience of China Unicom's mixed-ownership reform.Finally,combined with the current reform status and case conclusions,put forward the suggestions to deepen China's development of mixed-ownership reform.Through the analysis of this article,the author believes that China Unicom has embarked on a new path of mixed ownership,which not only proves the feasibility of the mixed reform of natural monopoly industries,but also fully demonstrates the process of introducing strategic investors and employee stock ownership;The management mechanism of "changing" is configured to achieve the goal of complementing the advantages of private enterprises and state-owned enterprises,and integrating individual employee with the interests of enterprises;To a certain extent,it has effectively avoided the risks that may exist in the process.It is worthy of reference for the implementation of mixed-ownership reform in state-owned enterprises in the future.