Study On The Performance Of China Unicom's Mixed Ownership Reform

The Third Plenary Session of the 18th CPC Central Committee put forward that the reform of mixed ownership is an important direction and a powerful way to realize the reform of state-owned enterprises at present.This means that the mixed ownership reform will be the main theme of the new round of state-owned enterprise reform in China,and gradually promote the marketization process of state-owned enterprises,which has far-reaching significance for the sustainable development of state-owned enterprises.Among the many ways to realize the reform of state-owned enterprises,the introduction of strategic investors is a way that can promote the integration of public capital and private capital.Strategic investors have resources such as management experience,capital and technology to meet the needs of the development of state-owned enterprises,and can effectively improve the ownership structure of state-owned enterprises,diversify their investment subjects,optimize the management system,and promote the long-term and stable development of enterprises.Therefore,based on the perspective of introducing strategic investors,this paper makes an in-depth study of the specific practice of China Unicom in the reform of mixed ownership,which has certain practical significance for the exploration of the reform of state-owned enterprises.By means of literature research,case study and financial index analysis,this paper makes a specific analysis on the financial performance and non-financial performance of.China Unicom during its mixed ownership reform by introducing strategic investors,and draws corresponding conclusions and enlightenments.Firstly,this paper reviews the literature on the mixed ownership reform of state-owned enterprises and the introduction of strategic investors,and introduces the relevant concepts and theoretical basis of this research.Secondly,this paper expounds the case of China Unicom's mixed ownership reform,and analyzes the concrete process and motivation of the reform.Thirdly,this paper analyzes the changes of financial performance before and after the reform of China Unicom's mixed ownership from four competency indicators,and analyzes the influence of mixed reform on China Unicom's non-financial performance from the changes of market response,governance structure and incentive mechanism,development strategy,operation management and competition pattern and business scale.Through the above analysis,this paper finds that China Unicom has achieved great reform results at the present stage,so it further analyzes the reasons for the success of China Unicorn's reform.Finally,the research conclusion and relevant enlightenment of this paper are drawn that the mixed ownership reform of state-owned enterprises has indeed improved the operating conditions and governance structure of enterprises to some extent,but it should be paid attention to choose the appropriate reform path and strategic investors,and effective integration after the introduction of strategic investors is the key to success.