| State owned enterprises,especially monopoly enterprises,play an important role not only in national economy and national security,but also in market economy.Before the reform and opening up in China,the state-owned enterprises carried out production according to the overall planning and planning of the government departments,which lacked autonomy,decision-making power and incentive mechanism,and the overall efficiency of state-owned enterprises was low.With the rapid pace of China’s reform and opening up in recent years,the Third Plenary Session of the 14 th Central Committee of the Communist Party of China established the reform principles of "clear property rights,clear rights and responsibilities,separation of government and enterprise,and scientific management".In 2013,the Third Plenary Session of the 18 th CPC Central Committee proposed "actively developing mixed ownership economy" in the "decision of the CPC Central Committee on comprehensively deepening reform" The mixed ownership reform of state-owned enterprises(hereinafter referred to as "mixed reform")has become a new direction of state-owned enterprise reform.The State encourages non-public enterprises to participate in the reform of state-owned enterprises,and encourages the development of mixed ownership enterprises controlled by non-public capital.As an important breakthrough in the reform of state-owned enterprises,the reform of mixed ownership has taken the lead in substantive steps in the fields of electric power,oil,natural gas,railway,civil aviation,telecommunications,military industry,etc.Among them,Sinopec carried out mixed ownership reform in the sales sector under the detailed layout in 2014,with a total of 25 investors,and the financing amount reached107.094 billion yuan.This paper takes Sinopec’s mixed ownership reform in 2014 as the research object,this paper introduces the background of the mixed reform and analyzes the motivation of the mixed reform.This paper specifically describes the mixed reform path of Sinopec Sales Company,from the proposal of the scheme,the start of the project,to the determination of cooperation and finally,analyze the effect of the mixed reform.By comparing the motivation analysis of Sinopec’s mixed reform,this paper believes that Sinopec’s mixed reform on the sales sector has achieved certain results.Through the introduction of external capital,to a certain extent,it has improved the capital structure of the enterprise,optimized the financial situation of the enterprise,and improved thecorporate governance structure However,there is still room for development.For investors,Sinopec,as a leader in the oil industry,can effectively drive the development of private enterprises,and achieve win-win cooperation through effective integration and resource sharing of different industries.In addition,through case study,this paper draws the following conclusions:(1)Mixed ownership reform promotes the development of state owned enterprises.The diversification of ownership structure and the modern governance system of market-oriented enterprises can effectively stimulate the vitality of state-owned enterprises and improve their competitiveness;(2)The reform of mixed ownership should introduce diversified investors,and like-minded investors can reach a high degree of agreement on the strategic objectives of enterprise development,which is more conducive to the future development of enterprises;(3)We should find the right time to mix up the reform and do not try blindly;(4)It is necessary to strengthen the management of the enterprises after the mixed reform,ensure that the state-owned assets will not be lost,and continuously improve the enterprise performance incentive system. |
