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 term...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.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
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 ov...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.展开更多
This paper studies the trend in which industrial enterprises’benefits allocation pattern changed,and the reasons for those rapid changes in China from 1997 to 2007.The results reveal that the benefits allocation patt...This paper studies the trend in which industrial enterprises’benefits allocation pattern changed,and the reasons for those rapid changes in China from 1997 to 2007.The results reveal that the benefits allocation pattern of industrial enterprises in China changed rapidly during the periods of 1998-2000 and 2003-2007.This paper discovers that the ramifications of state-owned enterprises’three-year reform plan,aimed at getting themselves out of a dire economic predicament,are the main reasons for the rapid changes in industrial enterprises’benefits allocation pattern from 1998 to 2000.The structural changes in ex-factory price of industrial products from 2003 were the main reason benefits allocation patterns of industrial enterprises changed in favor of capital during 2003-2007.展开更多
基金Supported by National Natural Science Foundation of China(No.79770 0 63)
文摘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.
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.
基金financial support of the National Social Science Fund of China Key Research Project(No.17ZDA086):Research on Reforms and Innovations of Monitoring System in State-Owned Enterprises.
文摘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.
文摘This paper studies the trend in which industrial enterprises’benefits allocation pattern changed,and the reasons for those rapid changes in China from 1997 to 2007.The results reveal that the benefits allocation pattern of industrial enterprises in China changed rapidly during the periods of 1998-2000 and 2003-2007.This paper discovers that the ramifications of state-owned enterprises’three-year reform plan,aimed at getting themselves out of a dire economic predicament,are the main reasons for the rapid changes in industrial enterprises’benefits allocation pattern from 1998 to 2000.The structural changes in ex-factory price of industrial products from 2003 were the main reason benefits allocation patterns of industrial enterprises changed in favor of capital during 2003-2007.
