Six highlights of the reform plan of state-owned enterprises and the interpretation of authority

Source: on the afternoon of September 14, 2015, the Central Committee of the Communist Party of China and the State Council issued the guiding opinions on deepening the reform of state owned enterprises (hereinafter referred to as the opinions) This is a programmatic document to guide and promote the reform of state-owned enterprises in the new era From the overall requirements to the classified reform, the improvement of modern enterprise system and state-owned assets management system, the development of mixed ownership economy, and the strengthening of supervision and prevention of the loss of state-owned assets, the reform goals and measures of state-owned enterprises are proposed In terms of classified supervision, state-owned assets commission mainly manages capital, equity diversification, restructuring and integration of state-owned enterprises, and overall listing, etc., there are frequent highlights Highlight 1: to achieve decisive results in important areas and key links by 2020 In, decisive achievements were made in important fields and key links to form a state-owned assets management system, a modern enterprise system and a market-oriented operation mechanism more in line with the requirements of China's basic economic system and the socialist market economy The influence of the state-owned economic vitality control power and the ability to resist risks were significantly enhanced Interpretation: the top-level design scheme sets the direction and path for the next reform, said Bao Jianyun, director of the international political economy research center of Renmin University of China, which is a new and significant promotion of the reform of state-owned enterprises on the basis of the existing Since the reform and opening up, the reform of state-owned enterprises has made considerable progress and significant progress from the expansion of enterprise management autonomy, the establishment of modern enterprise system to the promotion of state-owned asset management system However, some areas have seen the loss of state-owned assets, some state-owned enterprises are still inefficient and property rights are unclear Before that, although some regions have issued local SOE reform plans, they lack top-level guidance and design, and SOE reform is advancing slowly However, the introduction of the opinions has become a new round of national top-level design plan for SOE reform, setting the direction and path for the next SOE reform Highlight 2: classified supervision of state-owned enterprises will be divided into commercial and public welfare categories According to the opinions, state-owned enterprises will be divided into commercial and public welfare categories, and classified reform, classified development, classified supervision, classified responsibility and classified assessment will be carried out to promote the deep integration of state-owned enterprises and market economy Interpretation: only with classification can there be management Only with classification can there be development Zhang Chunxiao, director of the Consulting Department of the research center of the state owned assets supervision and Administration Commission of the State Council and member of the academic committee, explained that it is a very good choice to classify state-owned enterprises, because only with classification can there be management and development According to what? Zhang Chunxiao said that for commerciality, it is mainly to be able to highlight the commercial operation in the market, to maintain and increase the value of state-owned assets, to enlarge the operational vitality of enterprises, to enlarge the operational capacity of the market and its carrier capacity, and to build a good platform for the development of the market, which is a commercial category Public welfare mainly takes into account the people's livelihood, public services and the provision of public goods, which is the principle of classification Zhang Chunxiao said that in the classification, we must pay attention to that no matter how we divide the state-owned assets, we must adhere to the national character of the state-owned assets, and we can't divide the state-owned assets, narrow them, and lose them In the division, we should adhere to the dynamic nature and adjust it in real time according to the dynamic changes of the market How to assess commercial and public welfare enterprises? Zhang Chunxiao replied that the assessment of the business category is mainly to assess its value preservation and appreciation, market competitiveness, vitality, control, and economic guidance For the public welfare category, it mainly assesses its livelihood security function and the level of public goods provision, mainly from the security function Highlight 3: actively introduce all kinds of investors to realize the equity diversification of state-owned enterprises In view of the problems existing in state-owned enterprises, the guiding opinions on deepening the reform of state-owned enterprises put forward to actively introduce all kinds of investors to realize the equity diversification, vigorously promote the restructuring and listing of state-owned enterprises, and create conditions to realize the overall listing of group companies Interpretation: the diversification of state-owned enterprises' equity helps to reduce the corruption of senior executives, Xu Baoli, research center of the state owned assets supervision and Administration Commission, once said publicly that the diversification of state-owned enterprises' equity helps to reduce the corruption of senior executives The state-owned enterprises begin to become the main body of market competition and participate in market competition As the main body of market competition, state-owned enterprises must pursue profits and bear the consequences of market competition, that is, they must develop in market competition or go bankrupt in market competition However, a single state-owned property right is easy to soften the budget constraints of state-owned enterprises, resulting in distortion of their behavior, affecting operating efficiency, and there is a certain space for executives to seek rent The promotion of mixed ownership reform can solve the problem of soft budget constraint of state-owned enterprises To further promote the reform of mixed ownership system, it should mean that state-owned enterprises should open their stock rights, and the stock rights in enterprises should be non-state-owned as well as state-owned Highlight 4: there is no timetable for the reform of mixed ownership The opinion points out that the goal of developing mixed ownership economy is to promote the transformation of operation mechanism of state-owned enterprises, enlarge the function of state-owned capital, and improve the allocation and operation efficiency of state-owned capital We should adhere to the principle of policy-making according to local conditions, industry, and enterprise, and do not engage in coordination, full coverage, and schedule We should push forward one by one when we are mature Interpretation: in order to achieve the effect of "1 + 1 > 2", Zhang Chunxiao said that the purpose of mixed development must be conducive to the amplification function of state-owned capital, the maintenance and appreciation of value, and the enhancement of vitality It must be conducive to the complementary advantages of imported non-public capital, learn from each other's strengths, and stimulate vitality In order to achieve the effect of "1 + 1 > 2", it must not be mixed The "larangpei" type of mixing is likely to cause the use of mixed ownership economy to evaluate the shrinking state-owned assets under the guise of market, which not only leads to a new round of loss of state-owned assets, but also causes great harm to the development of non-public economy We need to make the state-owned economy move forward and backward freely, with a certain degree of opening and closing In the process of steadily promoting the mixed ownership economy, we must strengthen the supervision of state-owned assets and build a benign, fair, just and open operation platform Never operate in a dark box, or "black under the light" To steadily promote the development of mixed ownership economy is not to cut off one piece of the original state-owned assets, but to introduce excellent strategic investors, expand the stock assets and the cake In addition, we should let the state-owned economy and the non-public economy make another cake together, make the old cake bigger, and make the new cake stronger and bigger Highlight 5: the transformation of SASAC to "capital management first" Zhang Chunxiao said that management right and ownership are two very important rights for managers and operators of enterprises In this opinion, it has been repeatedly proposed that the boundary between management right and ownership should be clearly defined, and the separation of management right and ownership should be made at the same time SASAC focuses on "capital management" Interpretation: give daughter-in-law rights, and let her mother-in-law do a good job of supervision Zhang Chunxiao said that the separation of management rights and ownership makes the supervision and operation realize their respective attributes The operation of state-owned enterprises is more independent, the degree of marketization is higher, the marketization platform is very easy to build, and the operation efficiency of marketization can be gradually improved It is more conducive to the goal of further improving the vitality, control, influence and anti risk ability of state-owned assets Zhang Chunxiao said that the new round of reform has made significant changes in the management of state-owned enterprises and the supervision of state-owned assets In 2003, SASAC was established to manage assets, people and affairs, and "three management" was put into operation In the opinion of this round of reform, the mode of supervision and operation has changed, focusing on capital management and strengthening the supervision of state-owned assets The management right of the state-owned assets and the management right of the state-owned assets are all transferred to the state-owned enterprises, and the state-owned capital and the state-owned assets are separated With the establishment of the state-owned capital operation company of the state-owned enterprises, the supervision and Management Department of the state-owned assets will put the management right of the state-owned assets into the state-owned capital operation company In the previous round of state-owned enterprise reform, the only right given to state-owned enterprises is the right to operate For the supervision department, it has the right to manage and supervise the state-owned assets, so the state-owned enterprise, because of the reduction of its own rights, is that it shrinks in the operation of the market, which is often said that "mother-in-law" has too much control, and "daughter-in-law" has no way to do it In the new round of reform, we should give the daughter-in-law the power to do a good job of supervision, so that the daughter-in-law can do better, and the supervision will be more dynamic, efficient and targeted Highlight 6: strengthen and improve the party's leadership over state-owned enterprises The guiding opinions emphasize that we should unify the strengthening of the party's leadership and the improvement of corporate governance, incorporate the overall requirements of Party construction into the articles of association of state-owned enterprises, clarify the legal status of the party organization of state-owned enterprises in the corporate governance structure, earnestly undertake and implement the responsibility of strict management of the party and the party, and further strengthen the construction of the leading group and the talent team of state-owned enterprises Strengthen the daily supervision, management and comprehensive assessment and evaluation of the leaders of state-owned enterprises, especially the main leaders, and timely adjust the incompetent and incompetent leaders We will earnestly implement the "two responsibilities" of anti-corruption in state-owned enterprises, improve the system of anti-corruption, and strive to build an effective mechanism for enterprise leaders to be afraid, unable, and unwilling to commit corruption Interpretation: weakened the construction of the party, the operation efficiency of state-owned assets will also be reduced in the new round of reform, we must emphasize the leadership of the party and strengthen the construction of the party Why do you say that? In the previous round of reform, especially when the central inspection team and local inspection teams entered the inspection process of all enterprises at all levels, they found a problem If the party organization construction of this enterprise is well done, the operation efficiency of state-owned enterprises is relatively high, and the maintenance and appreciation rate of state-owned assets is relatively high The investigation found that if the leadership and construction of the party were weakened, the operation efficiency of state-owned assets would be reduced in the same direction Therefore, in the new round of reform, from the perspective of supervision, we must adhere to the leadership of the party and strengthen the construction of the party In the opinion, the state-owned enterprises belong to the whole people, and the whole people are shareholders What the shareholders require the state-owned enterprises to do is what the state-owned enterprises must do If the Communist Party of China wants to represent the interests of the whole people, it must realize what the people require to do There are four significant characteristics of authoritative interpretation of the Guiding Opinions: never let the reform dividend of state-owned enterprises become personal private interests, said Zhang Xiwu, deputy director of SASAC and Deputy Secretary of the Party committee The guiding opinions on deepening the reform of state-owned enterprises have four significant characteristics: First, we should pay more attention to the accuracy of the reform, insist that the reform should go straight to the problem, change whatever problems there are, and change whatever problems are prominent Second, we should pay more attention to the standardization of reform, first make rules before reform, and carry out reform according to law Three is