Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process ...Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process of national modernization but also serve as the core of the national economic lifeline through their irreplaceable status and function amidst changing times.In the new era,with the advent of the technological revolution and the wave of globalization,state-owned enterprises face unprecedented opportunities and challenges.As a significant aspect of state-owned enterprise reform,the mixed ownership reform is not only a transformation in the structure of enterprise ownership but also a reflection of China’s broader,comprehensive reform efforts.By deeply advancing this reform,it will help optimize the allocation of state-owned assets and significantly boost technological and management innovation within state-owned enterprises,ensuring their competitiveness in the intense market environment.Therefore,this paper will conduct an in-depth analysis of the mixed ownership reform of state-owned enterprises from the perspective of Marxist political economy.展开更多
Mixed ownership is an important form of realization of China＇s economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of ...Mixed ownership is an important form of realization of China＇s economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of the reform of mixed ownership, this paper randomly selects 200 listed state-owned enterprises as research objects, and studies the trends of the financial performance of these enterprises from the mixed state-owned enterprises and non-mixed-modification enterprises in the five years from 2013 to 2017, and compares their various trends. Financial indicators, a comprehensive evaluation of the problems and causes in the reform of the mixed ownership system, and then propose countermeasures to further deepen the reform of mixed ownership based on the research conclusions.展开更多
By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroug...By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroughs. At present, the following aspects are important: 1. Implement a Holdings System in the Reform of State-owned Foreign Economic and Trade Enterprises. The holdings system plays a major role in transferring the management mechanism of state-owned foreign economic and展开更多
The top-level design of national governance plays a leading role in reforming the corporate governance of state-owned enterprises(SOEs)at the micro level.Following the overall objectives of comprehensively deepening r...The top-level design of national governance plays a leading role in reforming the corporate governance of state-owned enterprises(SOEs)at the micro level.Following the overall objectives of comprehensively deepening reforms,this paper argues that the objective of SOEs corporate governance reform at this stage should be to improve and develop the SOEs corporate governance system with Chinese characteristics and modernize SOEs corporate governance system and governance capacity.To achieve this ambitious objective,this paper considers the theory of SOEs corporate governance with Chinese characteristics,and then explores the concrete manifestation and implementation pathway to the modernization of SOEs corporate governance system and governance capacity.This paper thus enriches the theory of corporate governance and provides insights into the newera SOEs corporate governance reform.展开更多
By using interview data from three large state-owned enterprises (SOEs) in agriculture related industries, this paper reveals that SOEs in inland area are much slow in response to globalization. Although they pursued ...By using interview data from three large state-owned enterprises (SOEs) in agriculture related industries, this paper reveals that SOEs in inland area are much slow in response to globalization. Although they pursued some strategies to adjust themselves, they are far behind the position to utilize the opportunities generated by economic globalization. Most of them are still out of the networks of transnational corporations. The strategies they adopted are quite different from SOEs in the coastal area. They overlook the importance of information infrastructure, well-educated personnel, and collaboration with the competitive leaders in their industries. The lagging situation is related to isolated location, traditional culture, and slow progress in enterprise reform. International comparison shows that the case companies did follow the general patterns that globalization promotes extension of company′s networks of linkages but in a rather slow phase. The decision makers should encourage intra-regional linkages between SOEs, between SOEs and private, foreign owned companies, as well as inter-regional linkages among them. The latter appears particularly important given the enlarging gaps between coastal and inland areas.展开更多
“Exit barrier” means the obstacle keeping enterprises from competing even though their profits may be negative. This paper presents quantitative research on the exit barrier’s effect on the Chinese construction ind...“Exit barrier” means the obstacle keeping enterprises from competing even though their profits may be negative. This paper presents quantitative research on the exit barrier’s effect on the Chinese construction industry using questionnaire investigation. The exit barrier was classified into six categories, and then the categories were ranked and analyzed according to the respondents from the state-owned enterprises (SOEs) and non state-owned enterprises (NSOEs), respectively. The main obstacles related to the exit barrier in SOEs and NSOEs were revealed. Finally, suggestions were provided to diminish the exit barrier effect on the construction industry.展开更多
China’s state-owned enterprises(SOEs)are facing an embedded integration of new functional mission,new classification reform and new digital development.These new tasks require SOEs to embrace digital strategic transf...China’s state-owned enterprises(SOEs)are facing an embedded integration of new functional mission,new classification reform and new digital development.These new tasks require SOEs to embrace digital strategic transformation and innovation for high-quality fulfillment of their national mission.Studying their digital transformation practices,this paper systematically explores the mechanism and path of embedding national mission into SOE digital transformation,and the mode selection of SOE digital transformation under different mission guidance.The findings are:(1)The SOE functional mission focusing on economic development,strategic support and public services in the new era is undertaken by for-profit,strategic and public functional SOEs;(2)the foreign circulation path based on the positioning mechanism-mapping mechanism and the internal consumption connection path for the state capital strategic positioning constitute a double twoway mechanism of embedding the national mission to the SOE digital strategic transformation,leading SOEs to build market-oriented,capacity-oriented and public-oriented digital transformation modes;(3)the three types of reform modes have respectively produced the action mechanism featuring agile strengthening,toughness strengthening and adaptability strengthening,which support the SOE classification performance.This paper attempts to make up for the research gap such as the lack of integration of the SOE digital strategic transformation mode by constructing the theoretical mode of SOE digital strategic transformation under the guidance of national mission,and reveals the intermediary mechanism of digital strategic transformation to support SOEs for fulfilling their functional missions.展开更多
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 driv...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.展开更多
文摘Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process of national modernization but also serve as the core of the national economic lifeline through their irreplaceable status and function amidst changing times.In the new era,with the advent of the technological revolution and the wave of globalization,state-owned enterprises face unprecedented opportunities and challenges.As a significant aspect of state-owned enterprise reform,the mixed ownership reform is not only a transformation in the structure of enterprise ownership but also a reflection of China’s broader,comprehensive reform efforts.By deeply advancing this reform,it will help optimize the allocation of state-owned assets and significantly boost technological and management innovation within state-owned enterprises,ensuring their competitiveness in the intense market environment.Therefore,this paper will conduct an in-depth analysis of the mixed ownership reform of state-owned enterprises from the perspective of Marxist political economy.
文摘Mixed ownership is an important form of realization of China＇s economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of the reform of mixed ownership, this paper randomly selects 200 listed state-owned enterprises as research objects, and studies the trends of the financial performance of these enterprises from the mixed state-owned enterprises and non-mixed-modification enterprises in the five years from 2013 to 2017, and compares their various trends. Financial indicators, a comprehensive evaluation of the problems and causes in the reform of the mixed ownership system, and then propose countermeasures to further deepen the reform of mixed ownership based on the research conclusions.
文摘By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroughs. At present, the following aspects are important: 1. Implement a Holdings System in the Reform of State-owned Foreign Economic and Trade Enterprises. The holdings system plays a major role in transferring the management mechanism of state-owned foreign economic and
基金This paper is supported by the Key Project of the National Natural Science Foundation of China(No.71432008).The authors thank Prof.LI Shanmin,Prof.YI Zhihong,Prof.JIANG Dongsheng,Prof.LIU Zhibiao,Prof.LU Zhengfei,Prof.WANG Huacheng,Prof.LÜChangjiang,Prof.TANG Guliang,Prof.WANG Changyun,Prof.ZHENG Hongliang,Prof.WANG Dehua,Prof.XU Feng,Prof.ZHANG Mubin,and friends from central enterprises and financial institutions,such as Mr.YOU Hua,Dr.WANG Yuntong,Dr.QIAN Zhonghua,Dr.QIN Yihu,for their constructive comments and suggestions on this paper.Opinions expressed in this paper are the authors’sole responsibility。
文摘The top-level design of national governance plays a leading role in reforming the corporate governance of state-owned enterprises(SOEs)at the micro level.Following the overall objectives of comprehensively deepening reforms,this paper argues that the objective of SOEs corporate governance reform at this stage should be to improve and develop the SOEs corporate governance system with Chinese characteristics and modernize SOEs corporate governance system and governance capacity.To achieve this ambitious objective,this paper considers the theory of SOEs corporate governance with Chinese characteristics,and then explores the concrete manifestation and implementation pathway to the modernization of SOEs corporate governance system and governance capacity.This paper thus enriches the theory of corporate governance and provides insights into the newera SOEs corporate governance reform.
基金Under the auspices of the National Natural Science Foundation of China (NO. 49971024) and Overseas Returning Scholar Program of
文摘By using interview data from three large state-owned enterprises (SOEs) in agriculture related industries, this paper reveals that SOEs in inland area are much slow in response to globalization. Although they pursued some strategies to adjust themselves, they are far behind the position to utilize the opportunities generated by economic globalization. Most of them are still out of the networks of transnational corporations. The strategies they adopted are quite different from SOEs in the coastal area. They overlook the importance of information infrastructure, well-educated personnel, and collaboration with the competitive leaders in their industries. The lagging situation is related to isolated location, traditional culture, and slow progress in enterprise reform. International comparison shows that the case companies did follow the general patterns that globalization promotes extension of company′s networks of linkages but in a rather slow phase. The decision makers should encourage intra-regional linkages between SOEs, between SOEs and private, foreign owned companies, as well as inter-regional linkages among them. The latter appears particularly important given the enlarging gaps between coastal and inland areas.
文摘“Exit barrier” means the obstacle keeping enterprises from competing even though their profits may be negative. This paper presents quantitative research on the exit barrier’s effect on the Chinese construction industry using questionnaire investigation. The exit barrier was classified into six categories, and then the categories were ranked and analyzed according to the respondents from the state-owned enterprises (SOEs) and non state-owned enterprises (NSOEs), respectively. The main obstacles related to the exit barrier in SOEs and NSOEs were revealed. Finally, suggestions were provided to diminish the exit barrier effect on the construction industry.
基金This paper is supported by the Major Project of the National Social Science Fund of China“Research on the Mechanism and Path of Promoting Digital Industry Innovation by Technical Standards and Knowledge of Property Rights”(No.19ZDA077).
文摘China’s state-owned enterprises(SOEs)are facing an embedded integration of new functional mission,new classification reform and new digital development.These new tasks require SOEs to embrace digital strategic transformation and innovation for high-quality fulfillment of their national mission.Studying their digital transformation practices,this paper systematically explores the mechanism and path of embedding national mission into SOE digital transformation,and the mode selection of SOE digital transformation under different mission guidance.The findings are:(1)The SOE functional mission focusing on economic development,strategic support and public services in the new era is undertaken by for-profit,strategic and public functional SOEs;(2)the foreign circulation path based on the positioning mechanism-mapping mechanism and the internal consumption connection path for the state capital strategic positioning constitute a double twoway mechanism of embedding the national mission to the SOE digital strategic transformation,leading SOEs to build market-oriented,capacity-oriented and public-oriented digital transformation modes;(3)the three types of reform modes have respectively produced the action mechanism featuring agile strengthening,toughness strengthening and adaptability strengthening,which support the SOE classification performance.This paper attempts to make up for the research gap such as the lack of integration of the SOE digital strategic transformation mode by constructing the theoretical mode of SOE digital strategic transformation under the guidance of national mission,and reveals the intermediary mechanism of digital strategic transformation to support SOEs for fulfilling their functional missions.
文摘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.
