Research On The Realization Path Of Mixed Ownership Reform Of Military Enterprises In China

Since 2013,a new round of mixed ownership reform of state-owned enterprises has kicked off,and military industrial enterprises have become the focus of this mixed ownership reform.Therefore,this paper firstly sorts out the process and relevant policy requirements of the mixed ownership reform of my country’s military industrial enterprises,and introduces the current situation and existing problems of the mixed ownership reform of military industrial enterprises.The three aspects of the system path put forward suggestions for mixed ownership reform,so as to promote the optimization of equity structure of military industrial enterprises,improve operating efficiency,and speed up the process of mixed ownership reform.Through research,this paper finds that in the choice of operation path,military enterprises should choose an appropriate mixed reform method according to their own conditions.The listing of assets has high requirements on the strength of the enterprise,and the procedures are complicated,which is suitable for those enterprises with strong strength that do not involve the core military asset business.Such enterprises can boldly carry out mixed ownership reform and promote asset listing.If the company’s own strength does not meet the listing requirements,it can obtain development funds through private capital participation to improve the market competitiveness of the company.Equity incentives can bind the interests of employees with the interests of the company and are suitable for competitive military enterprises.Mergers and acquisitions can enable enterprises to quickly obtain technologies and resources of other enterprises in a short period of time,and improve the status of enterprises in the industry,which is suitable for military-civilian integration enterprises.On the institutional path,we should speed up the legislative process for the listing business of military assets in response to the problems of military industrial enterprises in the mixed-ownership reform,put forward operational policy guidance,and protect the interests of private shareholders and employee shareholders from a legal and policy perspective.The mixed ownership reform of enterprises provides a good institutional environment.On the institutional path,the state can improve the state-owned capital supervision system focusing on "capital management" by establishing stateowned capital operating companies.Enterprises should establish a market-oriented management system,introduce excellent managers,and formulate reasonable equity incentive plans to promote the long-term development of enterprises.The innovation of this paper is that,on the one hand,it draws lessons from the experience of the ownership reform of military enterprises in typical European countries,and summarizes the general experience applicable to the mixed ownership reform of military enterprises in my country.On the other hand,the mixed ownership reform paths of military industrial enterprises are divided into operational paths,institutional paths,and institutional paths.In the operational paths,considering the differences in business nature,corporate strength,and mixed ownership process of different military industrial enterprises,four commonly used mixed ownership reforms are analyzed.The advantages and scope of application of the reform method can help military enterprises choose the appropriate mixed reform method.On the institutional path,from the perspective of four mixed-ownership reform methods,adjust the rules that hinder the reform,and put forward policy and legal system suggestions to promote the mixed-ownership reform of military industrial enterprises.On the institutional path,this paper puts forward institutional suggestions for promoting the reform of mixed ownership of military industrial enterprises from two aspects: the management system of military enterprises by external countries and the establishment of a market-oriented management system by internal enterprises.