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published in(发表于) 2013/11/13 7:16:22
Expert： mixed ownership or State-owned enterprise reform

Economic systems

★ Bulletin

The plenary must be unwavering to encourage, support and guide the non-public ownership economy development, stimulation of non-public ownership economic vitality and creativity. To improve intellectual property protection system, actively developing mixed ownership economy, promote improve the modern enterprise system in State-owned enterprises, support the healthy development of non-public ownership economy.

Public ownership playing a dominant role and diverse forms of ownership develop the basic economic system, are important pillars of the Socialist system with Chinese characteristics, but also Foundation of socialist market economic system. Experts believe that the mixed ownership or State-owned enterprise reform, while perfecting the property right protection system is essential.

Jinghua times Liao Feng

Question 1

Mixed ownership for enterprise reform and development what is the point?

Property main diversified has explicit effect for bulletin made of development "mixed ownership economic", in SASAC Research Center competitiveness Research Department Minister Xu Baoli seems, has two layer meaning, a is macro level, is refers to a national or area ownership structure of non-single sexual, has State, and collective,-public economic, has individual, and private, and foreign, non--public economic, also including has-public and non--public economic of joint venture, and cooperation economic, and in China is development to-public for main, and Diverse forms of ownership develop basic economic system; the second is at the micro level, mixed ownership is defined in an enterprise, diversification of property rights, formed by varying the nature of ownership of joint venture investment.

"Is worth noting, in the reform of State-owned enterprises in the process of development and to strengthen, diversification of property rights in favour of improving the governance structure of State-owned enterprises, establishment of a modern enterprise management system. "Xu Baoli told reporters that in the course of reform of State-owned enterprises, SASAC in advance some conditions of Central enterprises listed as a whole, and the effect has been achieved. At present, the overall listed companies, State-owned shares of equity holders is the group, and the group is fundamentally the shell company, an equity holder. Cancel as the Shell Group of companies has become an option.

SASAC official disclosed last year, the State-owned enterprise restructuring with the introduction of private investment guidance, which referred to, or between private investors in private investment can jointly set up between the subject and the State-owned enterprise equity fund and participate in the State-owned enterprise restructuring, joint venture strategic emerging industries, and foreign investment. This means it is possible to raise private capital are in Central enterprises share of parent company interests.

Question 2

Improve the protection of property rights system is reflected in the importance of what?

Perfect protection of property rights is fair as long

"To develop mixed ownership economy, promote the development of non-public sector of the economy's health, improve the protection of property rights system is a very important premise, this premise work in practice, developing mixed ownership economy will face difficulties. "State research experts, Shanghai day strong consulting General Manager Zhu Boshan yesterday told reporters that the communiqué refers to perfecting the property right protection system is a great deal of progress, but also the removal of market barriers, improving the efficiency of resource allocation and equity requirements.

Zhu Boshan said, in the past many other State, non-State-owned economy of mixed ownership enterprises and there has not been much success, corporate governance system is not perfect. This is because in such mixed-ownership enterprises, State-owned shareholder is too strong, making private shareholders ' lack of a voice. First, in past a dozen years of development and Executive sex restructuring in the, State-owned enterprise has accumulated has many resources, in financing loans aspects State-owned enterprise more by Bank favored, powerful of financing capacity decided has joint venture enterprise in the State-owned shareholders more strong; followed by, currently many policy provides and law regulations does not perfect, to state-owned shareholders of terms no a effective of restriction, instead of is is State-owned shareholders with State-owned assets of some policy requirements bondage company. Third, and very important, many State-owned enterprises, especially the Central enterprises to master the whole industry chain of control, even in some areas should be market-oriented, due to their upstream, resulting in substantial control of the industry.

(Original title: mixed ownership economy development)

　　经济制度

　　★公报

　　全会提出，必须毫不动摇鼓励、支持、引导非公有制经济发展，激发非公有制经济活力和创造力。要完善产权保护制度，积极发展混合所有制经济，推动国有企业完善现代企业制度，支持非公有制经济健康发展。

　　公有制为主体、多种所有制经济共同发展的基本经济制度，是中国特色社会主义制度的重要支柱，也是社会主义市场经济体制的根基。专家认为，混合所有制或成国企改革方向，同时，完善产权保护制度至关重要。

　　京华时报记者廖丰

　　1问

　　混合所有制对于企业改革发展有何意义？

　　产权主体多元化已显效果对于公报提出的发展“混合所有制经济”，在国资委研究中心竞争力研究部部长许保利看来，有两层含义，一是宏观层面，是指一个国家或地区所有制结构的非单一性，有国有、集体等公有制经济，有个体、私营、外资等非公有制经济，还包括拥有公有制和非公有制经济的合资、合作经济，而在中国就是发展以公有制为主体、多种所有制经济共同发展的基本经济制度；二是在微观层次，混合所有制是指在一个企业中，产权主体多元化，由不同所有制性质的投资主体共同出资组建。

　　“值得注意的是，在国有企业改革发展及做强做优的过程中，产权主体多元化有利于完善国有企业法人治理结构、建立现代企业管理制度。”许保利告诉记者，在国有企业改革过程中，国资委在推进一些有条件的中央企业实现整体上市，且已经取得了效果。目前，对于整体上市的企业，国有股股权的持有者是集团公司，而集团公司基本上已是壳公司，只是一个股权持有者。取消作为壳公司的集团公司便成为一种选择。

　　去年国资委正式对外公布了《关于国有企业改制重组中积极引入民间投资的指导意见》，其中提到，民间投资主体之间或者民间投资主体与国有企业之间可以共同设立股权投资基金，参与国有企业改制重组，共同投资战略性新兴产业，并开展境外投资。这意味着有可能将提高民资在央企母公司股权中的比重。

　　2问

　　完善产权保护制度的重要性体现在哪些方面？

　　完善产权保护是公平前提

　　“要发展混合所有制经济，促进非公有制经济健康发展，完善产权保护制度是一个非常关键的前提，这个前提实现不了，发展混合所有制经济就会面临困境。”国资研究专家、上海天强管理咨询总经理祝波善昨天告诉记者，公报中提到完善产权保护制度是一个极大的进步，同时也是清除市场壁垒、提高资源配置效率和公平的必要条件。

　　祝波善说，过去诸多国资、非公有制经济混合所有制企业并没有获得应有的成功，法人治理体系并不完善。这是因为在这样的混合所有制企业中，国有股东过于强势，使得民营股东缺乏必要的话语权。首先，在过去十几年的发展和行政性重组中，国有企业已经积累了许多资源，在融资贷款方面国有企业更受银行青睐，强大的融资能力决定了合资企业中国有股东更为强势；其次，目前许多政策规定和法律法规并不完善，对国有股东的职权没有一个有效的制约，取而代之的则是国有股东用国有资产的一些政策要求挟制公司。第三，也是非常重要的一点，很多国有企业，尤其是央企掌握的是整个产业链的控制权，即使在一些应该市场化的领域，由于其掌握了上游，造成了实质性的产业控制权。

(原标题：混合所有制经济将大发展)

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