The Sichuan Provincial ChangjiangEnterprise Company, the former ofSichuan Provincial ChangjiangEnterprise (Group) Holdings Co.(SPCEGHC), is a comprehensive foreigntrade enterprise under the direct leadershipof the pro...The Sichuan Provincial ChangjiangEnterprise Company, the former ofSichuan Provincial ChangjiangEnterprise (Group) Holdings Co.(SPCEGHC), is a comprehensive foreigntrade enterprise under the direct leadershipof the provincial government, mainly engagedin various kinds of foreign trade businessand as an agent for clients, involving deliveryof goods to foreign countries, the exchangeof technology, and the repair and leasing ofdomestic equipment. It was restructured tobecome an enterprise group in 1988, a"window" corporation on the province.展开更多
Reform of China’s state-owned asset management system is an important component of China’s economic system reform,but also a key factor in rejuvenating the national economy.In this article,the authors analyzed the b...Reform of China’s state-owned asset management system is an important component of China’s economic system reform,but also a key factor in rejuvenating the national economy.In this article,the authors analyzed the background of the reform,summarized the reform process and discussed related question on how to deepen the reform.展开更多
Whether the mixed-ownership reform whereby the state invests in nonstate enterprises will be effective is a question that has attracted widespread attention and discussion.This paper uses sample data from family-owned...Whether the mixed-ownership reform whereby the state invests in nonstate enterprises will be effective is a question that has attracted widespread attention and discussion.This paper uses sample data from family-owned enterprises listed from 2009 to 2016 and empirically tests the impact of equity participation by the state in the family enterprises on their innovation input and the underlying mechanisms.Our results show that state investment has positive impacts on innovation input in the family enterprises.This effect is even more significant for high-tech family enterprises and/or those family enterprises confronting high policy uncertainty.Our results also reveal that when state investment is accompanied by a greater degree of state participation in enterprise operations or when the investment originates locally,there is a greater increase in innovation input.Further analysis of the underlying mechanisms reveals that state investment increases innovation input by increasing both willingness to innovate and the resources available for innovation.This paper provides new theoretical support and empirical evidence for pushing the mixed-ownership reform and stepping up the sustainable development of non-state enterprises including family ones.展开更多
This article analyzes the basic experiences in the reform and development of China’s non-state-owned economy,based on a review of its distinctive features and major achievements of sustained rapid development over th...This article analyzes the basic experiences in the reform and development of China’s non-state-owned economy,based on a review of its distinctive features and major achievements of sustained rapid development over the last three decades since reform and opening began. It also identifies the problems facing further reform and development of China’s non-state-owned economy. Finally,it presents an outlook of the future of non-state-owned economic development. Looking ahead,the collectively owned economy in urban areas and townships is expected to enter a new stage of development based on transition and transformation; the individual and private economy will reach new heights of development; foreign invested enterprises will further boost economic and technological investment and raise the technological content of output.展开更多
Over the past three decades since 1978,reform of China's SOEs has scored remarkable achievements after the three stages of decentralization,institutional innovation and state capital development.However,the reform...Over the past three decades since 1978,reform of China's SOEs has scored remarkable achievements after the three stages of decentralization,institutional innovation and state capital development.However,the reform at the current stage is confronted with complex situations and problems.Internationally,China's state sector is confronted with pressures from elevated national mandates and a stern international environment.Domestically,China's economic development urgently awaits transformation and changes are taking place in a factor-driven development environment familiar to SOEs.In terms of market-based operations,a great gap exists between the current conditions of the SOEs and the requirements of a sophisticated socialist market economic system.Under such circumstances,the state sector is responsible not only for appreciating the value of state assets but also for assuming the new mission of expediting the transformation of China's economic growth pattern,internationalization and the establishment of a sophisticated market economic system.These requirements mark a new milestone for SOE reform and development.Addressing the conflict between the profitability mandate and the public interest mandate is a key priority of SOE reform in the new era.This paper has approached SOE reform by dividing the state sector into three categories:SOEs that serve public policy,SOEs that serve specific functions,and general commercial SOEs,and creating different governance mechanisms for each type of SOEs.展开更多
文摘The Sichuan Provincial ChangjiangEnterprise Company, the former ofSichuan Provincial ChangjiangEnterprise (Group) Holdings Co.(SPCEGHC), is a comprehensive foreigntrade enterprise under the direct leadershipof the provincial government, mainly engagedin various kinds of foreign trade businessand as an agent for clients, involving deliveryof goods to foreign countries, the exchangeof technology, and the repair and leasing ofdomestic equipment. It was restructured tobecome an enterprise group in 1988, a"window" corporation on the province.
文摘Reform of China’s state-owned asset management system is an important component of China’s economic system reform,but also a key factor in rejuvenating the national economy.In this article,the authors analyzed the background of the reform,summarized the reform process and discussed related question on how to deepen the reform.
文摘Whether the mixed-ownership reform whereby the state invests in nonstate enterprises will be effective is a question that has attracted widespread attention and discussion.This paper uses sample data from family-owned enterprises listed from 2009 to 2016 and empirically tests the impact of equity participation by the state in the family enterprises on their innovation input and the underlying mechanisms.Our results show that state investment has positive impacts on innovation input in the family enterprises.This effect is even more significant for high-tech family enterprises and/or those family enterprises confronting high policy uncertainty.Our results also reveal that when state investment is accompanied by a greater degree of state participation in enterprise operations or when the investment originates locally,there is a greater increase in innovation input.Further analysis of the underlying mechanisms reveals that state investment increases innovation input by increasing both willingness to innovate and the resources available for innovation.This paper provides new theoretical support and empirical evidence for pushing the mixed-ownership reform and stepping up the sustainable development of non-state enterprises including family ones.
文摘This article analyzes the basic experiences in the reform and development of China’s non-state-owned economy,based on a review of its distinctive features and major achievements of sustained rapid development over the last three decades since reform and opening began. It also identifies the problems facing further reform and development of China’s non-state-owned economy. Finally,it presents an outlook of the future of non-state-owned economic development. Looking ahead,the collectively owned economy in urban areas and townships is expected to enter a new stage of development based on transition and transformation; the individual and private economy will reach new heights of development; foreign invested enterprises will further boost economic and technological investment and raise the technological content of output.
文摘Over the past three decades since 1978,reform of China's SOEs has scored remarkable achievements after the three stages of decentralization,institutional innovation and state capital development.However,the reform at the current stage is confronted with complex situations and problems.Internationally,China's state sector is confronted with pressures from elevated national mandates and a stern international environment.Domestically,China's economic development urgently awaits transformation and changes are taking place in a factor-driven development environment familiar to SOEs.In terms of market-based operations,a great gap exists between the current conditions of the SOEs and the requirements of a sophisticated socialist market economic system.Under such circumstances,the state sector is responsible not only for appreciating the value of state assets but also for assuming the new mission of expediting the transformation of China's economic growth pattern,internationalization and the establishment of a sophisticated market economic system.These requirements mark a new milestone for SOE reform and development.Addressing the conflict between the profitability mandate and the public interest mandate is a key priority of SOE reform in the new era.This paper has approached SOE reform by dividing the state sector into three categories:SOEs that serve public policy,SOEs that serve specific functions,and general commercial SOEs,and creating different governance mechanisms for each type of SOEs.
