贸易保守主义下国有资本境外运营风险实证分析——以某大型央企为例

Empirical Analysis on the Risk of Overseas Operation of State-owned Capital under Trade Conservatism: Taking a Large Central Enterprise as an Example

国有资本境外运营是中国国有企业充分利用国内外两个市场,开展全球资源配置,提升企业市场竞争力的重要路径。随着国家"一带一路"倡议的稳步推进,中国国有资本在境外的投资和运营规模日益扩大,但是随之而来的是企业面临的境外风险也与日俱增。近年来以美国为首的全球贸易保守主义倾向日趋严重,其对中国国有企业的正常境外投资运营行为多有攻讦,由此带来国有企业在境外运营的风险进一步上升。本文旨在围绕国有资本的境外风险管控为目的,结合某央企为典型样本案例,通过进一步完善风险指标体系的构建,以实证分析来观察和指导国有资本的境外风险运营管控行为。

The overseas operation of state-owned capital is an important path for Chinese state-owned enterprises to make full use of both domestic and foreign markets,to carry out global resource allocation,and to enhance the competitiveness of enterprises in the market.With the steady advancement of the national "One Belt,One Road" initiative,the scale of investment and operation of Chinese state-owned capital abroad is expanding,but it is followed by the increasing external risks faced by enterprises.In recent years,the trend of global trade conservatism led by the United States has become increasingly serious.It has attacked the normal overseas investment operations of Chinese state-owned enterprises,which has led to a further increase in the risk of state-owned enterprises operating overseas.The purpose of this paper is to focus on the overseas risk management and control of state-owned capital,combined with a central enterprise as a typical sample case,and further improve the construction of risk indicator system to empirically analyze and guide the overseas risk management and control behavior of state-owned capital.