Central SOEs and State-owned Assets Management System Witness Great Reform&Development

Since the beginning of 2005, the central SOEs (state-owned enterprises) earnestly carried out and put into effect various strategies and policies as well as work plans of the Central Committee of the Party and the State Council.They kept forging ahead and carved out in an innovative spirit, and made great achievements worth celebrating in their various work.Both sales revenue and total profits of the central SOEs have been growing rapidly and synchronously, and the quality of the stateowned assets have been further improved and appeared a good momentum.……

The Separation of Powers from Functions and the Establishment of a New Structure of Management and Operation of State-owned Assets

The development of the socialist market economy demands the furtherintensification of the reform of the management operating system (MOS)of the state-owned assets, the strengthening of the efficiency in the man-agement of state-owned assets,and the improvement of the operating bene-

State-Owned Capital Participation in Private Enterprises:A Perspective of Debt Financing

This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.

Construction of Value-Creation Oriented Carbon Assets Management System of Oil Companies

As climate change draws more attention globally,the development of low-carbon economy has become an inevitable choice for mankind to achieve sustainable development.The increasingly strict control of carbon emission is making carbon emission rights a scarce resource and endowing the rights with the attributes of assets and commodities.China has announced the goal of“carbon emission peaking before 2030 and carbon neutralization before 2060”.Responding to this goal,as major carbon emitters,oil companies play the role of a driving force for green and low-carbon development.Carbon assets management is a key path for oil companies to achieve emission reduction goals and low-carbon transformation.However,the carbon assets management of China’s oil companies is still in the initial stage,with the system and regulations not yet sound,and the management process not yet closed loop.First the modes and experiences of carbon assets management in major international oil companies is introduced.Then the objective logical relationship and linkage laws between carbon assets management and enterprise value creation are comprehensively analyzed by integrating the basic theories of economics and management.On this basis,a value-creation oriented carbon assets management system for oil companies is constructed,mainly covering aspects such as enterprise strategy,control mechanisms,carbon inventory,and management modes.

Research on Audit Risks in the Recognition of Data Assets on Financial Statements

This paper explores the audit risks associated with the recognition of data assets on financial statements,focusing on the complexities arising from their replicability,unique valuation patterns,and contextual dependencies.It identifies major misstatement risks at both the financial statement and assertion levels,including the potential for management to exaggerate data asset values,uncertainties in valuation methods,and deficiencies in data governance and internal controls.Additionally,auditors’lack of professional knowledge and inappropriate audit methods can lead to inspection risks.The paper emphasizes the urgent need for enhanced accounting standards for data assets,effective guidelines for their recognition and measurement,and robust internal controls.Furthermore,it advocates for the exploration of effective valuation methods and the incorporation of advanced technologies,such as big data and AI,into auditing practices.By improving auditor training and methodologies,organizations can better manage the inherent risks associated with data asset auditing.

30 years of reform of China's state-owned asset management system

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.

Research on Mixed Ownership Reform of State-Owned Enterprises from the Perspective of Marxist Political Economy

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.

Internal Control Management and Risk Prevention Measures of State-Owned Enterprises

As an important pillar of national economic development,state-owned enterprises,their operational efficiency,and risk management ability are directly related to the stability and security of the national economy.As an important part of enterprise management,internal control management plays an irreplaceable role.Especially in the current domestic and international economic situation is complex and changeable,market competition is increasingly fierce environment,to strengthen the internal control management of state-owned enterprises and risk prevention measures is particularly important.This paper starts with the importance of internal control management and risk prevention for state-owned enterprises,and analyzes the problems and strategies in the internal control management and risk prevention of state-owned enterprises,in order to build a more comprehensive and efficient risk management system for state-owned enterprises to adapt to the ever-changing market environment and realize sustainable development.

A Study on the Internal Control and Countermeasures of Fixed Assets in Private Universities:A Case Study of N College

Fixed assets in universities occupy an important position in university management due to their wide coverage and large amount of money.Due to insufficient funding supply,private universities mainly focus on the allocation and utilization of fixed assets,which reflects the overall characteristics of cautious allocation,maximum utilization,and delayed elimination in the actual management of fixed assets.This article aims to conduct research and analysis on the entire lifecycle process of the allocation,use,and disposal of fixed assets in private universities,summarize the problems existing in the internal control of fixed assets in private universities,and propose corresponding countermeasures and suggestions in a targeted manner.

Household and Community Assets and Farmers' Adaptation to Extreme Weather Event:the Case of Drought in China

Under climate change, rising frequency and serious extreme weather events have challenged agricultural production. Designing appropriate adaptation measures to the extreme weather events require rigorous and empirical analysis. The overall goals of this study are to understand physical adaptation measures taken by farmers and the impacts of household and community assets on farmers＇ adaptation when they face drought. The analyses are based on a unique data set collected from a household survey in three provinces in China. The survey results show that though not common on annual basis, some farmers did use physical adaptation measures to fight drought. Regression analysis reveals that both household and community assets significantly affect farmers＇ adaptation behaviors. Improving households＇ social capital and wealth, communities＇ network and access to government＇s anti-drought service can facilitate farmers＇ adaptation to drought. Results indicate that community＇s irrigation infrastructure and physical adaptation taken by farmers can substitute each other. Further analysis shows that the households taking adaptation measures have higher crop yields than those without taking these measures. The paper concludes with several policy implications.

The research of the intangible assets’ influence to listed companies in China

As the development of the social marketing in China,intangible asset has been highly valued.While in China,this step of improving the intangible asset is just beginning.In 2006,the intangible asset was been modified in the new <Corporate Accounting Standard>.It is connected with the international accounting system.Therefore,the intangible asset is the essential point in the company’s success.The essay will study through the accounting problems of intangible asset to analysis that the importance of intangible asset in Chinese companies and the problems that companies should take care of.

Life-cycle cost model and evaluation system for power grid assets based on fuzzy membership degree

Life-cycle cost(LCC)theory can be effectively applied to improve the efficiency and quality of power plant equipment and asset management.However,specific aspects of the LCC calculation and evaluation model require further research for practical application.This paper proposes an LCC assessment model for the management of electric power plant equipment during its service life.A membership function method based on fuzzy logic is used to improve the allocation of modernization and overhaul projects to multiple equipment assets.An LCC assessment model and evaluation system for power equipment are proposed and successfully applied to the equipment and project management of a Guangzhou power plant in the China Southern Power Grid,providing a decision-making mechanism that facilitates efficient operation and optimal utilization of power plant equipment and assets.

A Framework for Systematic Classification of Assets for Security Testing

Over the last decade,a significant increase has been observed in the use of web-based Information systems that process sensitive information,e.g.,personal,financial,medical.With this increased use,the security of such systems became a crucial aspect to ensure safety,integrity and authenticity of the data.To achieve the objectives of data safety,security testing is performed.However,with growth and diversity of information systems,it is challenging to apply security testing for each and every system.Therefore,it is important to classify the assets based on their required level of security using an appropriate technique.In this paper,we propose an asset security classification technique to classify the System Under Test(SUT)based on various factors such as system exposure,data criticality and security requirements.We perform an extensive evaluation of our technique on a sample of 451 information systems.Further,we use security testing on a sample extracted from the resulting prioritized systems to investigate the presence of vulnerabilities.Our technique achieved promising results of successfully assigning security levels to various assets in the tested environments and also found several vulnerabilities in them.

Research on Financial Performance of State-owned Enterprise Mixed Ownership Reform

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.

Impacts of livelihood assets on livelihood security in drought-prone Gamo lowlands of southwest Ethiopia

Livelihood assets are a matter of high concern for secured survival.Drought-prone Gamo lowland households have differential access to livelihood resources which indicates the varying capacity of resisting to shocks.The main objective of this study is to explore the impacts of livelihood assets on livelihood security in the drought-prone Gamo lowlands.Multistage sampling procedures were employed to select the study sites and sample respondents.Primary data of households’capital assets and livelihood security status were produced from 285 survey households,agricultural experts,key informants,focus group discussants,and field observation through transect walks.Descriptive and inferential statistics were used to analyze quantitative data,whereas discussions and annotations were employed for analyzing qualitative data.The Sustainable Livelihoods Framework is used with modifications to schematize the study conceptually.The findings indicated that the study households possessed combinations of livelihood resources differentially.Financial and natural capitals were found to be the most deficient and better-accessed capitals,respectively.The study also showed that lowland residents’access to assets has significant indications of livelihood security.Households’poor access to assets such as financial,information,and social capital demands raised attention of the concerned stakeholders and policy debates in the drought-prone rural setup.Hence,it has been concluded that the more assets are accessed,the stronger the capacity of the households to resist shocks,and better the livelihood security.Accordingly,enhancing people’s access to multiple livelihood assets is suggested to sustainably secure livelihoods.

Evaluation of Biological Assets： Problems and Solutions

The chief production elements of an agricultural enterprise are its biological assets and the choice and practical application of the evaluation methods, as the assets directly affect many aspects： decision making of economic character by the financial statement user, indicators of financial operation analysis, inter-comparison of sector enterprises, assessment of the company value and taxes on its economic activity, and statistical data of the agricultural sector. The authors have used the discounted cash flow （DCF） as an alternative method and a model of system dynamics. Such a system dynamics method has not been used for assessment of biological assets so far. In the operating process, the company acquires or loses possession of the resources. It is vital to analyze the resources to see whether they comply with the concept of the assets and the terms of recognition. It is necessary for the same company as well as for external users of financial statements to get true information about the business and the value of money. Biological assets may be recognized in the company＇s accounting only when it is predictable that future benefits associated with these assets will flow into the enterprise. It is also important that the fair value or the cost can be measured reliably.

Theoretical analyses of stock correlations affected by subprime crisis and total assets: Network properties and corresponding physical mechanisms

In the field of statistical mechanics and system science, it is acknowledged that the financial crisis has a profound influence on stock market. However, the influence of total asset of enterprise on stock quote was not considered in the previous studies. In this work, a modified cross-correlation matrix that focuses on the influence of total asset on stock quote is introduced into the analysis of the stocks collected from Asian and American stock markets, which is different from the previous studies. The key results are obtained as follows. Firstly, stock is more greatly correlated with big asset than with small asset. Secondly, the higher the correlation coefficient among stocks, the larger the eigenvector is. Thirdly, in different periods, like the pre-subprime crisis period and the peak of subprime crisis period, Asian stock quotes show that the component of the third eigenvector of the cross-correlation matrix decreases with the asset of the enterprise decreasing.Fourthly, by simulating the threshold network, the small network constructed by 10 stocks with large assets can show the large network state constructed by 30 stocks. In this research we intend to fully explain the physical mechanism for understanding the historical correlation between stocks and provide risk control strategies in the future.

Revealing Importance of Management of Assets in Investment Trust Companies by DEA Analysis

In this paper,contribution of sources to the efficiency of Turkish investment trust companies is investigated by eight models which are constructed by different combinations of inputs of DEA analyze structure.Input oriented CRS based data envelopment analysis(DEA)and also Malmquist Productivity Index are applied for the time period of 2009—2016.Inputs of the CRS model are preferred as financial investments,cash and cash equivalents,cost of sales,and total sales while net profit and net sales are outputs of the models.It is reached at the conclusion that only management of investments is providing better results than only focusing on cash or cost management.In addition,effects and contribution of investment management parameter when it is added to the other ones is found more.

Exploring New Ways to Deepen the Reform of State-owned Foreign Economic and Trade Enterprises

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

Application of Artificial Neural Networks to the Classification of Coal Reserve Assets

Using the classification results by the fuzzy clustering models as the basis for choosing the choosing patterns, a feed forward networks model for classification is given. Remarkable success was achieved in training the networks to learn the patterns and in classifying the coal reserve assets. The results show that the neural network approach for classification has some advantages such as stability and reliability.