Research On The Operation Mode Of State-owned Capital Investment And Operating Companies In The Transformation And Development Of Enterprises

In 2017,the 19 th National Congress of the Communist Party of China proposed to "reform the authorized operation system of state-owned capital,accelerate the optimization and structural adjustment of the state-owned economy,and promote the strengthening,optimization and expansion of state-owned capital." Three months later,relevant ministries and commissions accelerated the reform of the authorized operation system of state-owned capital Deployment works.With the reform of state-owned capital investment and operation companies for almost five years,the three-year action of stateowned enterprise reform in 2023 has also come to a perfect conclusion,from 19+2 stateowned capital investment companies and state-owned capital operation companies of central enterprises to local state-owned capital,since its establishment and gradual improvement,the investment and operation company has gradually realized the three major goals of the state-owned assets supervision system,the layout of the state-owned economy,and the vitality and efficiency of state-owned enterprises.On January 31,2023,the national state-owned enterprise reform three-year action summary video conference was held.The meeting believed that the main objectives and tasks of the three-year stateowned enterprise reform action have been completed,and will continue to plan and promote the reform of state-owned enterprises around improving core competitiveness and enhancing core functions.This article first reviews the relevant national policies,then summarizes the relevant literature at home and abroad.Drawing on existing research results,with clear definitions of relevant concepts and a summary of the stage of state-owned enterprise reform,the study adopts the basic theories of agency theory and modern corporate system theory,and uses case analysis and investigation methods to focus on the outstanding State owned Capital Investment and Operation Companies such as China Chengtong,China Guoxin,China National Investment Corporation,China Merchants Group,among others.The paper particularly analyzes the operational practical mode of Shanxi State-owned Capital Operation Company in promoting enterprise transformation.Then,through the analysis of the role of Shanxi State-owned Capital Operation Company in the transformation and development of provincial enterprises and the existing problems of the evaluation model,and the four major aspects that need to be improved,including clarifying the boundaries of powers and responsibilities with regulatory agencies,optimizing the relationship with The management and control mechanism of the invested enterprises,the innovation of capital means to achieve the goal of state-owned assets reform,the optimization of the closed-loop mechanism of assessment and incentives,and corresponding improvement suggestions.Finally,focusing on the outstanding problems in the management and operation model,State owned Capital Investment and Operation Companies are proposed to promote the realization of high-quality transformation and development of enterprises.