Study On The Protection Of Non-state-owned Shareholders' Rights And Interests Under The Mixed Reform

From the Fourth Plenary Session of the fifteenth Central Committee of the CPC in1999,to the Third Plenary Session of the 16 th Central Committee of the CPC in 2003,to the Third Plenary Session of the 18 th Central Committee of the CPC in 2013,the reform of mixed ownership of state-owned enterprises is undergoing innumerable reforms,it was eventually incorporated into the overall deepening of the reform of the top design.It was not until 2017 that the government issued a specific request for deepening the reform,and planned some enterprises in some industries as the main reform pilot enterprises,which marked the first step of a brand-new reform.The tide of reform has gradually moved to other industries,with the contradictions brought about by the reform is also obvious.The mixture of state-owned capital and private capital is the essence of mixed ownership reform of state-owned enterprises.While emphasizing the dominant position of state-owned capital,private capital shareholders are often in the passive position of small and medium-sized investors.Therefore,the protection of private capital rights and interests has become the core issue to arouse the enthusiasm of private shareholders in the reform of state-owned enterprises.We should ensure that non-state-owned small and medium-sized shareholders and state-owned shareholders equal power.First of all,this paper uses case analysis,analysis and induction,literature research,the protection of non-state-owned small and medium-sized shareholders at home and abroad to comb the relevant literature.Secondly,taking founder group as the concrete research object,taking the reform of mixed ownership system as the background,drawing on the advanced achievements of modern protection of minority shareholders' rights and interests,observing the changes of Fangzheng Group's financial data in the past four years and making use of the financial data indicators and the industry average through vertical and HorizontalComparative Analysis,confirmed that the state-owned major shareholders in the use of cheap selling of high-quality assets,low-priced transfer of equity and other means of emptying the founder group.Finally,this article from three levels to strengthen the protection of minority shareholders rights and interests,from the company level proposed to introduce diversified main body,optimize the board of supervisors and independent board of directors to protect the rights and interests of minority shareholders;From the legal level,it is suggested that the rights and interests of minority shareholders should be protected by enhancing their right to speak,perfecting the litigation system of minority shareholders and giving them special investigation rights,to promote the state-owned shareholders and non-state-owned shareholders to form a de facto equality of rights,which is conducive to the normal exercise of non-state-owned shareholders decision-making power.These methods help to maintain the state of state-owned capital and private capital balance each other,and promote the economic development of state-owned enterprises.