Fundamental issues and solutions in the design of China's ETS pilots:Allowance allocation,price mechanism and state-owned key enterprises

This paper analyzes the three main fundamental issues in the design of China's ETS pilots,including allowance allocation,price mechanism and state-owned key enterprises,and proposed suggested solutions.For the issue of allowance allocation,we suggest that the gradual hybrid mode could be applied at the beginning,which starts with mainly free allocation and then increases auction ratio gradually.And grandfathering is a suitable method of free allocation.For the issue of price mechanism,we suggest a price floating zone with open market operation to reduce the uncertainty of prices.For the issue of state-owned key enterprises,we suggest a good coordination with SASAC,defining the state-owned property right and supervision right when state-owned key enterprises are involved into the carbon market,and the local government can set rules of allocation and transaction to limit their potential market power.

Profit Delivery Proportion,Operation Performance and Bond Rating of Agricultural State-owned Enterprises

The distribution relationship between the profits of state-owned enterprises and the state has been constantly changing with the times. From the state implementing the policy that state-owned enterprises not pay profits to the state in 1994 to the constant growth of stateowned enterprises in the 21st century,their profits have become more and more abundant. Until 2007,the state issued a document stipulates that the state-owned enterprises should pay part of their profits to the state,but at the initial stage of trial implementation of the policy,the implementation was not effective,and finally in 2010 the state officially announced the collection of profits from state-owned enterprises and increased the proportion of collection. From the perspective of agricultural state-owned enterprises,using the difference-in-difference( DID)model,this paper studied the state policy of increasing the profit delivery proportion of state-owned enterprises in 2020. Through CSMAR database,we selected agricultural state-owned listed companies in the 2008-2013 as samples,tested the impact of the implementation of the new policy in 2010 on the operation performance of agricultural state-owned enterprises,evaluated the implementation effect of the policy through comparing the operation performance before and after the policy,and explored whether the policy has an impact on the bond rating. Through empirical research,it found that increasing the profit delivery proportion of state-owned enterprises is helpful for improving the operation performance of state-owned enterprises and improving the quality of bond ratings,and this policy has more prominent effects on stimulating the performance of monopolistic state-owned enterprises. Therefore,collection of some profits from state-owned enterprises can promote better development of state-owned enterprises and also benefit both the state and the people.

Research on evaluation model of technology innovation ability of state-owned enterprises in northeast industry base

The paper viewed the current problem that state-owned enterprises in northeast industry base hadn＇t technologies of their own intellectual property right, whose sources mainly depended on imitation and introduction from abroad. Operational evaluation method and index criteria system of enterprises technology innovation ability were put forward in this paper, different enterprises may revise the model according to their actual situations to evaluate the enterprise technological innovation ability scientifically and quickly. The findings will be helpful to correlative departments to formulate the related policies and also has important theoretical and practical value in technological innovation project of enterprise.

STUDY OF REENGINEERING THE STOCK EQUITY STRUCTURE IN CHINESE STATE-OWNED ENTERPRISE REFORM

In this paper,it is first briefly described the basic situation and current policies of state owned enterprise reform in China.Then the major issues in the reform process are identified,the possible solutions in terms of reengineering stock equity structure and state share circulation are discussed,and finally some suggestions are made for the further state owned enterprise reform.Basing on the theory on the modern corporation system,relevant experiences of market economy nations and the practice of Chinese enterprise system reform.The approaches to determine the proportion of state share in the future corporations are proposed.Since the public ownership is not ideologically appropriate,the establishment of social security fund and mutual fund investment companies are suggested as new and acceptable pattern of public ownership.It is believed that these companies will be the major institutional shareholders in the future corporations.Their stock equity structure would mainly consist of institutional shareholders,which will be both consistent with international norms of modern corporations and with socialist public ownership with Chinese characteristics.

Vehicle Fleet Management Practices and Service Delivery in State Owned Enterprises in Zimbabwe

The main objective of the study was to examine the influence of vehicle fleet management practices on service delivery in State-Owned Enterprises (SOEs) in Zimbabwe. The study adopted a pragmatism research philosophy together with a mixed method research paradigm. In addition, structured questionnaires were distributed to 344 respondents drawn from 86 SOEs. Stratified and purposive sampling was used. Descriptive statistics were calculated using Statistical Package for the Social Science (SPSS) version 20. Exploratory factor analysis (EFA) was done on all items of the study while research hypotheses were tested using Structural Equation Modelling (SEM) in AMOS version 21. The study concluded that vehicle maintenance, fuel management, driver management and vehicle replacement positively influence service delivery. In addition, the study also established that Information and Communication Technologies (ICTs) moderate the influence of vehicle fleet management practices on service delivery. The study recommended that there is need for regular driver training and vehicle programs encompassing electronic spares tracking.

Round-table Conference of World-Renowned Enterprises discusses the new prospect of textile development

On October 26,one of the major events of the 2020the 3rd World Textile Merchandising Conference-the Round-table Conference of World-Renowned Enterprises was successfully held in Keqiao,Leaders from the China National Textile and Apparel Council,the Department of Consumer Goods Industry of the Ministry of Industry and Information Technology,the China General Chamber of Commerce,the China Chamber of Commerce for Import and Export of Textiles,the Shaoxing Municipal People’s Government of the Communist Party of China and representatives of well-known domestic textile and apparel enterprises from Shenzhou International Group Holdings Co.,Ltd.,Shandong Ruyi Group,etc.gathered together to talk about new trends,new opportunities and new developments in the global textile industry.

A Small Town Non-public Owned Enterprise

SHORTLY after Spring Festival in mid-February, as China prepared for its WTO entry, arbitration took place between a non-public owned enterprise in Zhangjiagang, Jiangsu Province, and an American company,

The Comparative Discussion of State Owned Enterprise in Competition Law

Reflect on the benefits and costs of the current approaches in the European Union and the People’s Republic of China.To the conclusion that State Owned Enterprises(SOE)’s and more generally state conduct should be fully covered by competition law.

WORLDWIDE LOOK AT CHINESE ENTERPRISES Chinese Enterprise Global Image Summit 2019 held in Beijing

Sponsored by China InternationalPublishing Group (CIPG) andorganized by China Report Press,the Chinese Enterprise Global ImageSummit 2019 (CEGIS 2019) was held inBeijing on December 3. The summitreceived enthusiastic support frommultiple government departmentsand organizations including the StateCouncil Information Office (SCIO),State-owned Assets Supervision andAdministration Commission of theState Council (SASAC), the All-ChinaFederation of Industry and Commerce(ACFIC), Sinopec Group, Bank of Chinaand the Academy of ContemporaryChina and World Studies (ACCWS).

Suggestions for Improving the Quality and Efficiency of Petroleum Enterprises

China's economy is gradually changing from highspeed development to high-quality development.Highquality development is closely related to improving quality and efficiency.The State-owned Assets Supervision and Administration Commission of the State Council(SASAC)has proposed carrying out targeted special actions to improve the quality and efficiency of state-owned enterprises in 2020,and this has been practically promoted throughout the country.

Pursue the New Development Concept to Promote High- quality Development of Enterprises

On April 27,the Academic Forum on“New Development Concept and High-quality Development of Enterprises”was successfully held in Beijing.The forum was guided by the Think Tank for Research on State-owned Economy of the Chinese Academy of Social Sciences and the China Top Think Tank of CNPC.More than 200 senior managers,scholars and experts from the State-owned Assets Supervision and Administration Commission of the State Council(SASAC),China Top Think Tanks,member units of the Central Enterprise Think Tank Alliance(CETTA),large enterprise groups,universities and research institutions attended the Academic Forum.

National Bureau of Statistics:From January to February,profits of industrial enterprises above designated size fell by 38.3%

From January to February,the total profits of industrial enterprises above designated size reached 410.70 billion yuan,a year-on-year decrease of 38.3%(calculated on a comparable basis).From January to February,among the industrial enterprises above designated size,state-owned holding companies realized total profits of 146.54 billion yuan,a year-on-year decrease of 32.9%;joint-stock enterprises realized total profits of 315.88 billion yuan,a decrease of 33.6%;foreign and Hong Kong,Macao and Taiwan-invested companies realized total profits of 79.63 billion yuan,a decrease of 53.6%;total profits of private companies reached 120.83 billion yuan,a decrease of 36.6%.

From January to March,the profits of industrial enterprises above designated size decreased by 36.7%

From January to March,the total profits of industrial enterprises above designated size nationwide amounted to 781.45 billion yuan,a year-onyear decrease of 36.7%,the decline was 1.6 percentage points narrower than in January to February.From January to March,among the industrial enterprises above designated size,state-owned holding enterprises achieved a total profit of 222.67 billion yuan,a year-on-year decrease of 45.5%;joint-stock enterprises achieved a total profit of 597.04 billion yuan,a decrease of 33.0%;and foreign-invested,Hong Kong,Macao,and Taiwan-invested enterprises achieved a total profit of 167.15 billion yuan,a decrease of 46.9%;the total profits of private enterprises reached 234.48 billion yuan,a decrease of 29.5%.

State-owned enterprises in China: A review of 40 years of research and practice

State-owned enterprises(SOEs)are important components of the Chinese economy.Although SOEs are generally considered inefficient in operations,China’s economy,which relies heavily on SOEs,has been highly successful over the last four decades.This indicates the importance of SOEs in China’s past and future economic success.Therefore,in this study,we review the literature on economic theories and 40 years of practice of Chinese SOEs and discuss implications for future research.Our review consists of four parts:the theories of SOEs and their reform,the performance and financing strategies of SOEs,corporate governance in SOEs,and corporate social responsibility in SOEs.

State-owned Enterprises' Outward Investment and the Structural Reform in China

Since China＇s accession to the WTO in 2001, China has been on a steep learning curve in terms of engaging in outward direct investment, and state-owned enterprises （SOEs） have played a predominant role in this drive. We argue that investment overseas by SOEs is a double-edged sword as far as its impact on domestic reform is concerned. Investing overseas offers opportunities to deepen structural reform in China, but such investment could also strengthen the monopoly position of some SOEs, which is inconsistent with the objective of domestic reform. Therefore, it is important for China to deepen domestic reform with respect to competition, ownership and regulations, to maximize the benefits from investing overseas＇. The present paper also discusses how building market-compatible institutions will resuh in increased innovation. This provides opportunities for Chinese firms to effectively catch up with the advanced technologies to remain competitive in overseas markets.

Executive turnover in China's state-owned enterprises:Government-oriented or market-oriented?

Executive turnover is important in the governance of state-owned enterprises(SOEs). Herein, we focus on the executive turnover of China's SOEs, and the implementation of related evaluation mechanisms under different levels of government intervention. We collect executive turnover data of listed Chinese SOEs from 1999 to 2012, and find that about half of the SOE executives leave office within two terms, which is in line with government recommendations. Moreover, we find that more than a third of executives leave after less than one term, and nearly 20% after more than two terms, highlighting the uncertainty and unpredictability of executive appointments in SOEs. We also find that the executive evaluation mechanism for SOEs is implemented differently under different levels of government intervention. SOEs under weak intervention, such as those controlled indirectly by governments, controlled with low shareholdings, from non-regulated industries or in the Eastern regions, prefer the market-oriented evaluation method, which places more weight on executives' economic performance. In contrast, those under strong intervention prefer the government-oriented evaluation method, which is characterized by policy burden.

Corporate Social Responsibility Strategy Renewal of State-owned Enterprises for Promoting Common Prosperity

In order to contribute to the overarching objective of achieving common prosperity within the nation,it is imperative for China’s state-owned enterprises(SOEs)to renew their strategy for corporate social responsibility(CSR).The strategy renewal should focus on a new value goal range,and after obtaining full employee identification and integration of all business processes.

Restructuring in China's State-owned Enterprises:Evidence from the Coal Industry

Usingfirm-level data for China ＂s state-owned coal mines, this paper examines the impact of privatization, corporatization and debt restructuring of state-owned enterprises on technical efficiency. A stochastic frontier production method is applied to a panel dataset from 2000 to 2007. The simultaneous study of these three measures makes it possible to study individual effects more precisely than otherwise. The study shows that the three reform initiatives are all able to improve technical efficiency in state-owned coal mines. The finding of a significant efficiency improvement from relinquishing state ownership provides an alternative to privatization. The study of debt restructuring and technical efficiency has not been documented in the published literature.

CHINA IN THE PAST DECADE State-owned Enterprises Have Seen Sweeping, Historic, and Transformative Changes

On June 17,the Publicity Department of the CPC Central Committee held“China in the Past Decade”press conference to introduce the reform and development of State-owned assets and State-owned enterprises in the new era.