2018 reform of state-owned enterprises how to change? Mixed change will play a key role

The original title: 2018, how the reform of state-owned enterprises? The report of the 19th National Congress of the Communist Party of China on "Putting forward the strategy of making state-owned capital stronger, bigger and bigger, ... ... developing a mixed ownership economy and fostering a world-class enterprise with global competitiveness", which extended the Third Plenary Session of the 18th CPC Central Committee " Decided "the main idea of ​​state-owned enterprise reform, sounded the horn of a new round of state-owned enterprise reform.

Chen Xiaogan, Central News Agency

The new round of state-owned enterprise reform needs to adapt to the new economic environment that has undergone major changes. The goal of state-owned enterprise reform can not be on state-owned enterprises, state-owned assets on state-owned assets, It should be based on the "three benefits" criterion and the goal of enhancing the overall efficiency of the national economy and the economic competitiveness of the country. It should be aimed at raising the efficiency of state-owned capital and enhancing the vitality of state-owned enterprises. The economic pattern of co-evolution and coordinated development plays a more active role in promoting economic growth and transformation, and promoting social harmony and progress in civilization. To achieve this goal, a new round of state-owned enterprise reform needs to focus on two main directions: to develop a mixed ownership economy and promote the transformation of state-owned enterprises into a management mechanism, and to improve the state-owned capital management system based on "managing capital." The latter provided the conditions for the former, the former put forward the latter's ability requirement of "managing capital". The interaction between the two forms the two main wings of the new round of reform in state-owned enterprises and provides the impetus for fostering world-class enterprises.

Establishing a State-owned Assets Management System that Emphasizes Investment Income,


Basic Environment for Strengthening and Improving State-owned Capital

Promoting the Strengthening of State-owned Capital To become bigger and bigger, we need to implement the people-centered development thinking, embody the principle of "ownership by the whole people and sharing for all" and the construction of an economic pattern of national progress and coordinated development so as to enhance national competitiveness and overall economic efficiency. "Strong" means more emphasis on safety. It is necessary to avoid the operational risk of "putting eggs in a basket" through conventional methods of capital operation such as investment portfolios, and to effectively prevent all forms of state-owned Asset loss; "doing good" means that we should make full use of the liquidity of capital and realize the adjustment and optimization of the layout of the state-owned economy in the orderly advancement and withdrawal of state-owned capital. "Making bigger" means paying more attention to the profitability of state-owned capital, providing sustainable investment in state-owned capital for safeguarding the national strategic objective and the sustainable development of state-owned economy through market-oriented and specialized operation, and becoming Supplementary sources of public finance. To this end, we need to further improve the existing state-owned assets management system, dilute the "tools" and "starting points" function of state-owned capital, and strengthen the profit-making function of state-owned operating capital.

Chen Xiaogan, Central News Agency

The first step toward improving the state-owned asset management system is to transform the functions and management of state-owned assets regulators and create a basic environment for improving the efficiency of state-owned capital and releasing the vitality of state-owned enterprises. This is a prerequisite condition.

Secondly, construct a state-owned capital agency system based on financial hard constraints and based on transparency.

Third, establish and improve the state-owned capital layout policy and dynamic adjustment mechanism above the level of the real enterprise.

Fourth, improve the state-owned capital management budget system. For instance, the state-owned shareholders' rights and interests should be reflected in the delivery phase of state-owned capital gains, and the state-owned capital public attributes should be more reflected in the stage of state-owned capital income expenditure.

Developing a Mixed Ownership Economy is an Important Way for Traditional State-owned Enterprises to Grow into First-class Enterprises with Global Competitiveness

For enterprises that have obvious resource advantages In the case of state-owned enterprises with natural defects, hybrid ownership reform is similar to that of genetically modified technologies, and as long as the system is in place and the mechanisms are in place, it will promote the reborn transformation of state-owned enterprises. Practice has also shown that a mixed ownership enterprise is a new enterprise with a new mechanism formed by integrating the advantages of different ownership systems and has new requirements on the system and will become the main form of existence of the state-owned economy. To grow a world-class enterprise with global competitiveness in the state-owned enterprise group, the mixed ownership reform will play a key role. Over the past few years, the experiment of mixing and reforming has begun to play its role as a point-increasing surface and now has the basis for a strategic expansion. To take a strategic start, we must first solve the problem of cognition. We must recognize that it is a long-term plan rather than a stop-gap measure. China's development of a mixed-ownership economy is not one Transitional measures or short-term behavior is not a last resort, but the inevitable result of proactive reform and active promotion and the development trend. Taking the mixed ownership economy as an important manifestation and important content of the socialist economy with Chinese characteristics, Build an Economic Pattern of National Progress and Coordinated Development. Second, taking the principle of "not increasing the burden of enterprises on the basis of promoting reforms," ​​we should promptly follow up on the related supporting policies for the reform of the mixed reforms. Third, a clear mix and change is not "mixed", the key to promote business transformation mechanism, business mix and change should promptly change and improve the operating mechanism. This actually sets the requirements for optimizing the structure of the shareholding structure, breaking the "single dominant" issue of the traditional state-owned enterprises and introducing new shareholders with checks and balances, otherwise it will be difficult to achieve the expected results. Fourth, it should be noted that the reform must be synchronized with the protection of property rights and the release of people's enthusiasm, otherwise it is difficult to make the desired progress.

The new round of reforms must be pro-activeThe task of the new round of state-owned enterprise reform is still arduous and arduous. It must be an active reform that seizes the time window and can not be missed as a crisis-forced passive reform. At present, the organizational leadership of the reform of state-owned assets in state-owned enterprises has been strengthened; the top-level design has basically been completed; the major reforms have been started one after another; the system has been initially established; the atmosphere for reform has gradually taken shape; the actual results of the reform have gradually come out; Into the crucial period of tackling hardship. We should, in accordance with the spirit of the "Decision" of the Third Plenary Session of the 18th CPC Central Committee and the requirements of the 19th National Congress of the CPC, condense the consensus on the reform of state-owned enterprises, improve the design of the reform mechanism, improve the implementation of the reform, and pragmatically promote the reform of state-owned enterprises In the passive slashing, pushing to avoid the delay in the reform time.

(Original title: 2018 Outlook for the Reform of State-owned Enterprises)

(The author is a researcher of the State Council Development Research Center)

Editor: Zhang Jianli

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Last modification:February 5th, 2018 at 11:31 pm

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