公司治理的多元演变与深化路径:“十三五”回顾与“十四五”展望

Diversified Evolution and Deepening Path of Corporate Governance:“13th Five-Year”Review and“14th Five-Year”Outlook

推进国家治理体系和治理能力现代化,是新时期中国全面深化改革的总目标,公司治理现代化是实现这一目标的重要微观基础。“十三五”以来,中国公司治理制度环境逐步完善,混合所有制改革加速推进,国有企业现代企业制度建设不断深化,民营企业公司治理模式更加规范,上市公司治理水平有所提升。然而,与发达国家相比,当前中国公司治理仍然存在多个方面的问题与挑战。“十四五”时期,公司治理将进入加速转型与深化阶段,转型方向重点在于治理现代化、股权多元化、运营透明化、创新常态化和经营国际化,转型路径主要包括加快推进制度创新、优化股权治理结构、探索灵活激励机制、促进利益相关方参与以及提升跨国治理能力等。

The modernization of national governance system and governance capability is the general goal of deepening reform in China in the new era,and the modernization of corporate governance is the important micro-foundation to achieve this goal.Since the 13th five-year plan period,the environment of corporate governance system in China has been increasingly improved,the reform of mixed ownership system has been accelerated,the construction of modern enterprise system of state-owned enterprises has been deepened,the corporate governance of private enterprises has been standardized,and the governance level of listed companies has been improved.However,compared with developed countries,there are still many problems and challenges in corporate governance in China.During the 14th five-year plan period,corporate governance will enter into the stage of accelerated transformation and deepening.The direction of transformation will focus on modernization of governance,diversification of equity ownership,transparency of operation,normalization of innovation and internationalization of business.The path of transformation will include accelerating institutional innovation,optimizing equity governance structure,perfecting external governance mechanism,exploring flexible incentive mechanism,and improving transnational governance capability,etc.