Implementation Of Mixed Ownership Reform And Innovation Strategy Of State-owned Enterprises

In 2013,the Third Plenary Session of the 18th CPC Central Committee stressed that a mixed-ownership economy with mutual participation and integration of state-owned capital,collective capital and non-state capital is an essential form to realise a basic economic system that allows the development of a state-owned and non-state-owned economy into a mixed-ownership economy.The 2017 19th Party Congress Report also proposed to "deepen the reform of SOEs and develop a mixed-ownership economy".Under the goal of the "three-year action" of state-owned enterprise reform,the implementation of mixed ownership is conducive to optimizing the state-owned economy and structural adjustment,and giving full play to the role of state-owned capital.Optimize economic structure and promote sustained and healthy economic development.The research on mixed reform shows that the mixed reform has played a positive role in rationalizing the ownership structure of enterprises,rationalizing the level of cash holdings,improving the operation mechanism of state-owned enterprises and improving enterprise performance.The existing research on mixed reform focuses on quantitative research,focusing on testing the role of mixed reform in one aspect of enterprise performance.However,as an important part of the reform of state-owned enterprises,the reform of state-owned enterprises has a complex reform process and a comprehensive role.Therefore,this paper adopts the method of longitudinal case study to analyze the reform of mixed enterprises of state-owned enterprises,and selects Hikvision,which has the dual identity of state-owned enterprises and high and new technology and has been established as the benchmark enterprise of mixed reform by SASAC,as the case study object to study its two mixed ownership reforms,and take the innovation strategy as the entry point to analyze the role of mixed reform in Hikvision’s innovation strategy.This paper summarizes and describes the development stage and mixed reform of Hikvision’s innovation strategy,and forms a systematic understanding of mixed reform and innovation strategy;Through the in-depth analysis of the case,it is further concluded that the mixed reform of Hikvision in each stage matches with the implementation of its innovation strategy,resulting in synergy.Based on the above qualitative research,this paper also analyzes the impact of hybrid reforms on corporate financial and non-financial performance,and the market’s response to hybrid reforms in listed companies,using publicly available data from listed companies.The research of this paper provides a new perspective and content for understanding the strategic role of mixed reform of state-owned enterprises.The summarized mixed reform model of Hikvision can also provide a reference for the practice of mixed reform of state-owned enterprises.