Research On The Effect Of China Unicom's Mixed Ownership Reform From The Perspective Of Introducing Strategic Investors

Faced with the complex world economic situation,the state-owned economy is important in the development of the national economy.However,compared with the private economy,the state-owned economy has problems such as inefficiency and insufficient vitality,which greatly restricts the development of the state-owned economy.Therefore,the Third Plenary Session of the Eighteenth Central Committee pointed out that we must uphold and improve the basic economic system and actively develop a mixed ownership economy.In some extent,reforming state-owned enterprises has become an inevitable trend,and mixed ownership reform can play a positive role in the reform of state-owned enterprises.It can inject new blood into enterprises,optimize productivity allocation,and provide strong vitality for enterprises.Among the first batch of pilot reforms of mixed ownership of central enterprises,only Unicom Group is a central enterprise with core assets as the main body of mixed ownership reform.China Unicom's mixed reform is the benchmark of the national mixed reform work,and its mixed reform also has important reference significance for other companies in the telecommunications industry.Firstly,this article introduces the related achievements of mixed ownership reform,including the introduction of mixed reform path,mixed reform and the introduction of the concept,motivation and economic consequences of strategic investors.On the basis of summarizing and summarizing corporate governance theory,strategic alliance theory,synergy effect theory and shareholder activism theory,the mechanism of strategic investors' influence on the effect of mixed reforms is introduced.Secondly,taking C hina United Network Communications Co.Ltd.as an example,it introduces its corporate background,the motivation and process of mixed ownership reform,and conducts economic,management and development potential through the financial index method and non-financial performance evaluation method.analysis.In terms of economic benefits,it was found that the introduction of strategic investors 'mixed reforms had a positive response to the short-term market,and companies have improved their profitability,operations,debt servicing,and growth capabilities.In terms of management benefits,it was found that the introduction of strategic investors has optimized enterprises Governance structure and information disclosure;in terms of development potential,companies transform their development strategies,conduct in-depth cooperation with strategic investors,use their own advantages to integrate with each other 's resources,and give full play to synergies,in Internet innovation services,broadband services,There has been significant growth in all aspects of the mobile business.In genera l,through this mixed reform,China Unicom has shown a good development trend in terms of economic efficiency,management efficiency and development potential.It can be seen that the mixed reform has a positive impact on China Unicom to a certain extent.Finally,this article summarizes the successful experience of mixed reforms,which requires the introduction of strategic investors to improve the corporate governance structure,access to capital and advantageous resources,so as to give full play to the synergies,but also to avoid excessive dependence on strategic investors.In addition,this article also points out the potential problems that mixed reforms may cause the loss of state-owned enterprises' assets,such as the speculative behavior of strategic investors and the imperfect asset evaluation mechanism.In this regard,this article gives three optimization suggestions: first,attach great importance to the selection of strategic investors;second,regularly evaluate strategic investors;third,formulate appropriate strategic investor exit plans.