The Paradox of Mixed Ownership Reform in State-owned Enterprises and Its Countermeasures

摘要

The ownership of state-owned enterprises does not refer to the ownership of "state", but to a common ownership formed by the transfer of ownership rights in individual ownership by the whole people. The retention of the residual claim by the whole people is a prerequisite for the establishment of joint ownership. However, the financial department's capital contribution from the state-owned capital and the surviving demand for dual status cannot guarantee the full realization of the residual claim right, which leads to the paradox of state-owned enterprise mixed ownership reform. State-owned shares should be divided into independent departments in the form of preferred shares, representing the whole people to exercise the residual claim rights, and finally forming a system of checks and balances between state-owned control rights, state-owned residual claims and private capital control rights.