兼并重组、所有制与产能过剩——基于山西省煤炭去产能困境的案例分析

Merging and Reorganization,Ownership and Coal Overcapacity——A Case Study Based on the Dilemma of Cutting Excessive Coal Capacity in Shanxi Province

以山西省为例,深入分析了煤炭资源整合政策对国有煤炭企业产能过剩的影响,及其化解产能过剩的困境。兼并重组中的政府干预、国有企业的扩张诱发了国有煤炭企业的产能过剩和债务上升的结果,而沉重的债务压力和国有企业政策性负担、信贷预算软约束进而又导致国有煤炭产能退出困难。最后从短期、中期和长期的角度,提出了控制新增产能、引导产能退出和完善政府职能定位以及深化国有企业改革等一系列去产能的政策建议。

This article analyses the effect of the coal resources integration policy on overcapacity in state-owned coal enterprises （SOE） in Shanxi province, and the dilemma of overcoming overcapacity. We conclude that the intervention of government in merging and reorganization and the expansion of SOEt are key factors that lead to state-owned coal enterprises＇ overcapacity and their heavy debt burdens. And the debts and policy burden the enterprises bears, together with the soft budget constraint, result in the difficulty of cutting excessive capacity for SOE. A series of policy recommendations on controlling expansion of production capacity, improving exit mechanism, and SOE reform are put forward from short-term,mid-term and long-term perspectives.