Zheng Xinli: the influx of laid-off SOE reform will bring you | Zheng Xinli | Zhou Tianyong | Population

  Text / Chinese Economists 50 Forum kickstart the party's 18 Third Plenary Session of the "decision" of the reform of state-owned enterprises made important deployment。
Central issued "Guidance on deepening the reform of state-owned enterprises", marking the start of SOE reform again。 Central to the thinking and understanding the spirit of "decision" to clarify some of the misunderstanding, is an important condition for the smooth progress of the reform of state-owned enterprises into。   First out of the state-owned assets supervision and capital to pipe the main changes to erroneous understanding of the reform of state-owned assets from the pipe to the main, will not lead to weakening of the regulatory functions。 Since the establishment of the SASAC, perform the function on behalf of the country, the implementation of the management of personnel affairs management of assets of state-owned enterprises unity, has played an important role in state-owned assets, it has made great achievements。
  However, state-owned enterprises operating as an independent market players, this regulatory system increasingly unable to meet domestic and foreign enterprises to participate in market competition, the need for autonomous decision-making and improve the resilience of。 In accordance with the requirements of the modern property rights system of state-owned enterprises have occupied state-owned assets of legal property rights, including the right to use, usufruct, right of disposal, etc. Along with this, the state-owned enterprises must also have autonomy in investment, especially with the business increasingly large scale assets, a wide range of growing, business and geographical range more widely, in order to improve return on assets, enterprises need timely disposal of idle or low yield assets, the purchase of a new business can bring higher-yielding long-term assets; required by international mergers and acquisitions, optimizing the allocation of resources on a global scale。
Operational autonomy to implement these state-owned enterprises, is to enhance the international competitiveness of state-owned enterprises objective need, is the basic condition for state-owned enterprises bigger and stronger。   And not only from the form of value from the material form of state-owned assets supervision, state-owned enterprises in order to deregulation, the state-owned enterprises only cage of tigers into the mountains to make it grow into a free ride on the global market of large international companies as soon as possible , play a key and leading role in improving the country's overall competitiveness in。
  Therefore, the state-owned assets supervision of the main tube to tube transition from capital assets mainly from the main focus on the supervision of physical assets into a proliferation of return on capital and the capital of the main tube, is adapted to the needs of the development of productive forces, not regulation weakening optimization functions but will not cause loss of state assets but is conducive to business development and growth。   The second is to develop a mixed ownership economy will not cause the country back or Guotuiminjin。 Develop a mixed ownership economy and encourage state-owned capital, collective capital, mutual non-public equity, equity diversified set up joint-stock companies, can complement one another and gather capital to meet the business development needs of the various elements of。
Equity diversified contribute to the formation of a sound corporate governance structure of checks and balances, investors have different voting rights based on how much equity, equal rights for all types of investors, democratic decision-making, is conducive to scientific decision-making, and it helps avoid internal human control。
  Internationally, equity diversification is a common trend。
Many large multinational companies both domestic and shareholders, as well as foreign shareholders; both individual holdings, there are all kinds of foundations, corporations holding。
Many domestic companies, including listed companies, both state-owned shares or collective shares, another private shares。
In biology, there is a hybrid vigor。
It is this mix of all biological principles embodied in the economic field。   Practice has proved that a single ownership economy has a certain vulnerability, but the pursuit of pure pure form of ownership is often not conducive to business development, and mixed ownership economy is conducive to play the enthusiasm and promote the common development of all economic sectors, is currently the fastest growing, an economic form of the most dynamic。 The so-called people back into the country or Guotuiminjin are based on hearsay evidence of subjective act。
Some people develop a mixed ownership said to be privatized, but confuse。
  Third, the state executive pay limits, mean that SOE reform backtrack。
Currently state-owned enterprise executives are appointed by the executive, entrepreneur hiring from the market conditions are not yet ripe, the state-owned enterprise executives with the wage gap between civil servants and employees in an appropriate range of control is necessary。 With the maturity of the market entrepreneurs, state executive hiring market increase the proportion of high market by the hiring of executives pay some aspects acceptable。
  Meanwhile, with the state-owned enterprises to a mixed ownership, allow mixed-ownership enterprises to implement employee stock ownership system, technicians and management personnel can obtain income from equity of shares, which will be the main income entrepreneurs。 Employee stock ownership will allow the identity of workers and owners into one, both to increase property income employees, but also to mobilize the workers a sense of ownership, a long-term incentive。   Fourth, whether state-owned enterprise reform means appear once again, "laid-off Tide"?In the 1990s, the reform of state-owned enterprises in a large number of employees laid off reorientation, paid the price reform。
This is the price to pay。 Because of long-standing "iron rice bowl", "iron rice bowl", resulting in a large number of redundant enterprise, overstaffing, not laid off, what better way to do it?It should be seen, except for a few monopoly industries, in the most competitive industries, shedding workers and stripping their social task has already been completed。
This time the reform, involving a small number of monopoly industries and industries with excess production capacity severely, continue to implement downsizing to improve efficiency, is the need for industrial restructuring, we must bear the pains。   Compared with the nineties, the current jobs more state support for re-employment intensified, through skills training, to achieve transfer the employment, it would be easier。 If they can use the skills and experience working in state-owned enterprises, start their own business, to do something in the past no chance of doing business, and the opportunity would be a better choice。
Premier Li Keqiang announced the laid-off workers with 100 billion yuan of financial funds, for everyone to eat a reassurance。
  Enhance the importance of deepening the reform of state-owned enterprises, Xi Jinping, general secretary of the urgency of understanding the past two years to reform state-owned enterprises made a series of important speech, pointed out that "state-owned enterprises, especially the central management of enterprises in key industries related to national security and national economy and the key areas of dominant, is an important pillar of the national economy, the economic base of our party and our socialist state power also plays a pivotal role, you must do a good job。
"" To adhere to state-owned enterprises an important role in national development, unswervingly adhere to the state-owned enterprises do a good job, the state-owned enterprises bigger, stronger unwavering。
"These remarks, noted the importance of state-owned enterprise reform and development, and expressed the determination of the CPC Central Committee and the State – Owned Enterprises。   State-owned assets is the new China was founded 60 years generations to live frugally, constantly accumulated valuable asset is the common interests of the 1.3 billion people where。
In order to promote the well-being of all the people, the state-owned assets can only increase, not decrease。
Only run state-owned enterprises, state-owned assets continue to add value, efficiency has continued to improve in order to better serve all the people。   At present, state-owned enterprises is facing competition from domestic private enterprises, it is also facing competition from foreign multinational companies dominating in terms of capital, technology, etc.。
State-owned enterprises in the internal and external pressures in order to grow and develop, we must enhance the vitality of internal development。
General Secretary Xi pointed out: "to promote the reform of SOEs should be conducive to increasing the value of state-owned capital, will help improve the competitiveness of state-owned economy, in favor of state-owned capital amplification function。 "Three 'in favor of' raised, pointing out the direction of SOE reform。
Analysis of state-owned enterprises, there are a number of outstanding contradictions and problems in need of reform: First, some companies market dominant position has not been established, the state-owned capital operation efficiency is not high; the second is some confusion corporate governance, internal control, transfer of benefits, the state-owned loss of assets and other issues outstanding, enterprise social functions and historical issues have not yet fully resolved; Third, some Party organizations manage the party running the party responsibility is not implemented, the political core role of the Party in the enterprise is weakened。
These contradictions and problems seriously restricting the healthy development of state-owned enterprises and state-owned enterprises are not suited to take on important responsibilities, we must enhance the sense of urgency to accelerate the reform of state-owned enterprises, according to the problem-oriented approach, taking targeted reform measures。   It should be noted the current state-owned enterprise reform and development, there are many advantages not previously available。 State-owned enterprises have experienced 30 years of reform, has accumulated a lot of experience, the emergence of a number of examples of successful。 In today's reforms, we should sum up the experience to be successful, flourish。 Past reform some lessons should never forget to take。 From the external environment, the rise of the private economy is one of the biggest changes。 In the reform and reorganization of enterprises, state-owned enterprises must equal treatment of private enterprise, not condescending。
Reorganization of the ownership structure of the enterprise, to determine the specific circumstances of the parties to negotiate, both state-owned holding, shares may be, does not necessarily require absolute control, the consolidated financial statements。
  In general, a diversified property company, should have at least three or more shareholders, and the two minority shareholders of the shares must be greater than the sum of the largest shareholder, the only way to the formation of checks and balances to avoid major shareholders do whatever they want, violations of the interests of minority shareholders。 Practice has proved a mixed state-owned economy and the private economy, can produce new advantages, state-owned enterprises into the private economy to absorb, can enhance the vitality; the private economy by means of state-owned economic platform, will be able to even more powerful, faster growth。
Combination of both, is not equal to 1 + 2, 1 + 1 is greater than 2 but。
  This round of SOE reform process of transformation and upgrading of the value of the national economy, the implementation of supply-side structural reforms need to state-owned enterprises play a key and leading role。
Particularly in the areas of strategic emerging industries, including electronic information, aerospace, biotechnology, advanced manufacturing, new energy, new materials industry, urgent need to cultivate a group of strong innovation ability of leading enterprises, the world stood in the forefront of technological advances, led various industries moving to high-end of the global industrial chain。
State-owned enterprises should be duty-bound to take on the historical responsibility。   Currently, in the aerospace, high-speed rail, electricity and other fields, the central enterprises have played an important role。 It should be further strengthened by key technology research and development, assembly design, global marketing, diffusion parts supply and logistics services form a close-knit industrial clusters, in order to reduce costs, improve quality, and enhance overall competitiveness。
  In the field of advanced manufacturing, including large commercial aircraft, luxury cars, special ships, CNC machining centers, engines and other large high-end equipment, as well as chips, displays, carbon fiber and other key components and new materials, representing the country's scientific and technological strength and manufacturing capacity, to achieve self-manufacture, requires a lot of R & D funding and manpower to implement innovative systems integration and collaborative innovation。
Complete this arduous task arduous, can only hope the central rate。   Through reform and restructuring state-owned enterprises should establish an incentive mechanism for state-owned enterprises technological innovation, so that they consciously assume the task of major technological innovation, to become the industry leader in technological progress。
In the iron and steel, nonferrous metals, building materials and other fields, the current capacity of state-owned enterprises and private enterprises draw, excessive fragmentation of the industry, the opportunity to help corporate restructuring, improve industrial concentration, the formation of a number of large enterprise groups with international competitiveness in order to enhance technology R & D capacity and international business capacity。 In some monopoly industries such as the petrochemical industry, too much redundancy remains a prominent problem restricting the development of enterprises, with foreign counterparts ratio, labor productivity is only one of a dozen other people's points even lower, resulting in poor performance of low intensity R & D investment。
  With the government canceled the project approval for the petrochemical industry, allowing private enterprises to enter, will unfold between state-owned and private enterprises in a fierce competition, the results will bring rapid increases in labor productivity, international competitiveness of the industry, petrochemical products rely heavily on imports of the situation will change, end-product prices will also decline, the majority of the people will share the results of reform to lower oil prices。 These industries are state-owned enterprises should make full mental preparation, can no longer rely on government protection, it should not hesitate, hesitate to be shedding workers and other industries have already completed reforms to meet the challenge of the private economy and foreign。   Innovation, classified facilities strategy, to complete a new round of SOE reform task should be in accordance with the spirit of the central and various industries, the specific situation of enterprises, every enterprise to develop specific reform plan, after discussion by experts and relevant departments approved the implementation of third-party assessment report。
To do before making any decisions, both actively plan, not hasty action, a change mature a。
  The first is the reform of state-owned assets management system reform。
All levels of government in the state-owned asset managers change their functions, the real transition from tube to tube-based asset-based capital, the transition from the physical form management form of value management。
To cancel some of the old management functions, establish new management functions。   The assessment of companies focus more on profitability, capital appreciation ability, technological innovation, long-term development capacity。 According to national development strategies and development policies, to inject prospective new industries and innovative enterprises capital to support mergers and acquisitions among enterprises, increase R & D and capital investment in weak links。   Meanwhile, industries and enterprises need to exit out of timely and appropriate capital。 Wholly state-owned, holding, shares of the company, perform the function according to the investment proportion。
Some qualified directly as a state-owned capital operating company's business, should be granted their respective mandates, to support these enterprises to become multinationals have the ability to self-development of technological innovation。
  According to different classification competitive industry, public sector, monopoly industries, the nature of the existing state-owned enterprises to define and develop different respectively reform program。 This transformation of state-owned assets management institutions function, so that freed from this particular part of a business transaction management functions out, the better to focus on optimizing capital allocation of state-owned big pipe, which is to implement the operational autonomy of state-owned enterprises, making it truly the main market operators need is a better play to the functions of state-owned assets management, and enhance the state-owned economy guiding force, zoom function requires the state capital。   We should establish and perfect the shares as the basis of a modern enterprise system as the focus of reform。 Third Plenary Session of the Fourteenth Party proposed the establishment of property rights clearly established, separation of enterprise, since the modern enterprise system management science, SOE reform has made significant progress。 However, progress is uneven reform。
Improve the modern enterprise system, the implementation of diversification of property rights, the establishment of a standardized corporate governance structure, the task is still arduous。
  Modern enterprise system is an important achievement of modern civilization and progress, is from 200 years of industrial development in the history of constantly sum created, is the common wealth of human society。 In the modern corporate governance structure, the Board of Directors living in the hub, should be a highly intelligent elite business decision-making body。
Board members should be independent directors members have extensive management experience and knowledge of all aspects of the composition, in addition to full-time directors, there should be a certain percentage of。 The Board consists of strategic, investment, research and development, finance, payroll, legal and other professional committees, to discuss and decide major issues in business, will be responsible to shareholders。
Shareholders' meeting is the highest authority of the company, responsible for the company's profit and loss。   Companies major investment decisions, profit distribution plan, appointment and dismissal of the chairman, the shareholders should decide。 Management level appointment and removal by the board, responsible for organizing the daily production and business activities, and is responsible for the Board。 This division of labor coordination, scientific governance structure of checks and balances, the objective needs of the enterprise is run。 We want to cultivate their own multinational companies and "century-old", we must unswervingly to build such a system, and the only way to effectively prevent internal control, transfer of benefits, loss of assets, too much redundancy and other issues。 After establish a standardized corporate system on the basis of diversified ownership, in order to implement ESOP system。   Enterprise core, the backbone layer and the older employees holding appropriate, all employees form the community of destiny, companies can only enduring。 Since the reform, some companies implement employee stock ownership system, and establish long-term incentives and enhance the cohesion, the rapid development of enterprises, to create a successful experience。
Employee stock ownership does not mean that for everyone, new mess mess。 Some companies award every year talented employees, the enterprise's stock option awards; some business leaders on the implementation of stock system, are effective incentives。   "Opinions" to "clear legal status SOE Party in the corporate governance structure, innovation SOE Party to play a central role in political ways and means。 "It is our political advantage。 This advantage can rely on the past to seize power, now run business can rely on this advantage。 The party's political core role is mainly reflected in the company to ensure the implementation of the Party's principles and policies, mobilize the enthusiasm of all staff, to promote innovation and development of enterprises, to fulfill the economic, social and ecological responsibility is good business。
The main role of the Party achieved by vanguard and exemplary role of。   Through play the role of grassroots organizations and party members of party committees, party, party building with the modern enterprise system combine to make our political advantages into international competitive advantage, do a world-class enterprise。
The enterprise party building, can not be regarded as optional, but must do a good job。