Motivation. State-owned Capital Exit Strategy Study

Property right is the key and main content of property ownership. The establishment of such a modern property system as "apparent belonging, clear right and responsibility; extraordinary protection; smooth circulation" is the foundation of market economy. It is the destined choice to enhance its healthy development for the state economy, in accordance with the requirements of modern property system, to modify the economic structure, to withdraw from most of the competitive areas, to prompt the reforms in some critical areas, to improve the overall quality of the state economy and to maintain its reasonable controlling force.State-owned enterprises in the area of power resources have with them their own contradictions. The retreat of state-owned capital is closely related to the reformation of reform and system. Enterprises majoring in resources face a more emergent requirement of the reformation of system and are also facing great difficulties, great challenges and more resistance. Presently, enterprises' withdrawing from these areas have become the focusing and difficult ones, which, from the perspective of practice, is still in the process of exploration, and from the perspective of theory research, yet to be more enquired into, still in lack of systematic research.This paper, from the perspective of the reformations in enterprise property system and management system, probes into the reasons for the state-owned capital to withdraw from these areas, combined with taking into account of the characteristics of concerned surroundings, system and comes up with the various barriers in this process. It is based on property right theories, the development laws of such enterprises, the laws of market competition and scale economy theory. It also puts forward several means and various merge models for this withdrawing, sets up the withdrawing plans and stages concerning the model formats by referring to the practical experience in the private-owned enterprises inthe west capital countries. It suggests some strategy choices and police advices for the enterprises in accordance with genuine cases.The withdrawing means, combined models, formats and process scale models put forward by the author will have practical guidance for the reform and capital withdraw of the enterprises in the field of power resources. The serial operation strategies for the goal to settle the problem of "where the personnel go, where the funds come, who is to be responsible for the debt" provide the enterprises with practical reference experience from the micro perspective. This is supposed to enhance a healthy and smooth development for the state-owned capital and the reform of property right pluralism. And the policy suggestions put forward from the macro perspective provide the enterprises with an angle and direction for the reformation of property right and system of the enterprises in the field of power resources.