State-owned Capital Investment And Operation Company Capital Optimization Allocation And Innovation

According to the Decision of the Central Committee of the Communist Party of China on Several Major Issues in Comprehensively Deepening Reforms put forward by the Third Plenary Session of the Eighteenth Central Committee,the SASAC 's supervisory function as a funder has been redefined,from the original “asset management” to “capital management”.To carry out the transformation,therefore,the improvement of the existing state-owned assets management system and the establishment of a nationwide capital authorization system have also begun to be implemented.State-owned capital investment companies and state-owned capital operating companies are important platforms for improving state-owned asset management system reform and establishing a state-owned capital authorization system.How to better manage operations and optimize capital allocation is the focus of China's current stateowned enterprise reform.In order to optimize the capital structure in the province,the Hubei Provincial Government has accelerated the transformation of the functions of the SASAC of Hubei Province into "capital management".In 2015,it transformed the original Hubei Province Hong Thai Asset Management Co.,Ltd.and established it on the original basis.Starting from the new Hubei Province Hong Thai Capital Investment and Operation Group Co.,Ltd.The Hubei Provincial State-owned Assets Supervision and Administration Commission's transformation and upgrading of state-owned capital investment and operation companies marks that Hubei Province has entered a new stage on the road of exploring the reform of stateowned enterprises.This new operating model is worthy of in-depth exploration and research in order to facilitate the future Provide reference for reform work.From the perspective of theoretical analysis and case analysis,this article conducts specific analysis and research on the optimization of capital allocation and innovation of state-owned capital investment and operation companies.Through the use of theoretical analysis,the functional positioning of the state-owned capital investment and operation company and the establishment and implementation of a multi-level authorization management system are introduced,which lays the foundation for the subsequent analysis of the Hongtai Group's authorization management system.In the case analysis section,the overall situation of the case company Hongtai Group was first introduced,and the implementation mode of the group 's multi-level authorization management system was analyzed;secondly,the optimization of the Hongtai Group 's capital allocation was analyzed to provide a follow-up to the reform of stateowned enterprises and local state-owned capital Investment and operating companies provide a strong reference.The research conclusions of this paper are:(1)State-owned capital investment and operation companies play an important role in reforming the state-owned capital authorization management system,and have constructed the "funding institution-strategic operation layeroperation execution layer-funded enterprise" Operation system;(2)The overall operation mode of the state-owned capital investment and operation company is to carry out two-level operation of state-owned capital,which is guided by national policies to form four major operation modes of "management","investment","transportation" and "financing";(3)Hongtai Group,as a state-owned capital investment and operation company,has made innovations in its operating methods,mainly reflected in innovations in positioning,operating structure and model.