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| 书 名： | 建投投资评论（2019年 第一期 总第9期） | ||||
| 英 文 名： | JIC Investment Review | ||||
| 作 者： | 中国建银投资有限责任公司投资研究院 | ||||
| I S B N： | 978-7-5201-4383-7 | ||||
| 丛 书 名： | 中国建投研究丛书·论文系列 订阅 | ||||
| 关 键 词： | 建筑投资 投资学 世界 | ||||
| 出版日期： | 2019-03-01 | ||||
中文摘要
《建投投资评论》为读者提供关于投资理论与实践研究的学术性交流平台，其内容主要阐述投资领域的热点问题与前沿问题，客观评价当前国内外投资领域的发展状况，分析其中需要改善和优化之处，引发与投资相关的行业人士对此进行深入探讨和分析，为广大关注投资的人士提供科学的参考和建议，不断推进投资领域研究的发展和创新。
文章列表
党的十八大以来，国有企业牢牢把握稳中求进工作总基调，坚持突出主业，推进分类改革，落实改革试点，加快混合所有制改革，优化公司法人治理结构，全面加强和改进党对国有企业的领导，完善国有资产管理体系，有力促进了国民经济转型升级，取得了改革的阶段性成果。为进一步推动国有企业改革向纵深发展，下一步应坚持以供给侧结构性改革为主线，始终围绕做强做优做大国有企业这个核心目标，全面深化改革，落实增强活力、完善机制、提质增效、强化监管、加强党建五个重点任务，实现国有企业质量更高、效益更好、结构更优的发展。
,AbstractEN:Since the 18th National Congress of the Communist Party of China，the state-owned enterprises firmly grasp the keynote of seeking improvement in stability，stick to highlighting the main business，promote classification reform，implement pilot reform，……give propel to the reform in mixed ownership，optimize corporate governance structure，comprehensively strengthen and improve the Party building in state-owned enterprises，improve the management system for state-owned assets，forcefully facilitated transformation and upgrading of national economy and achieved phased results in the reform. Next，in order to further promote the reform of state-owned enterprises to develop in depth，we should adhere to the supply-side structural reform as the main line，focuse on the core goal of making the state-owned enterprises stronger，better and bigger，comprehensively deepening reform，implement the five key tasks of enhancing vitality，improving mechanisms，improving quality and efficiency，strengthening supervision and the party building，realize higher quality，more benefits and better structure of state-owned enterprises.
,KeyWords:49223,213992,39994,342097,EKeyWords:94511,304055,48227,401338,SubjectWords:,LiteratureId:10786896,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_001,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:01.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:45,ShowType:putong,LogoID:0,PdfID:10776697,DownCount:17,AuthorInfos:{"于健":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"于健，河北工业大学国际技术经济研究中心研究员。
"},"Yu Jian":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:党的十八大以来中国国有企业改革的政策举措与实践效果,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:党的十八大以来中国国有企业改革的政策举措与实践效果,_RowNo:4自党的十八大提出新一轮国企改革构想以来，国企混合所有制改革成为学术研究领域的热点。本文重点梳理广大学者对本轮混合所有制改革的研究文献。首先从混合所有制的概念出发，对当前混合所有制改革的论争进行辨析。其次分析当前改革取得的进展和面临的困难，并对现有改革路径的研究进行分类归纳。最后，评述了现有研究的进展和存在的不足，对未来混合所有制改革研究提出方向和建议，包括加大对实践层面混合所有制改革的研究力度，丰富国企改革案例研究，探讨外资参与国企改革的可能性等。
,AbstractEN:Since the reform of state-owned enterprises was proposed in the 18th National Congress of the Communist Party of China，it has become a hot topic in the field of academic research. This paper makes a systematic survey of the researches on mixed ownership reform. Firstly，the paper analyzes the concepts of mixed ownership and the controversy of mixed ownership reform. Then，the paper analyzes the achievements and difficulties of state-owned enterprise reform in current，and summarizes the reform paths in the research. Finally，the paper reviews the progress and shortcomings of the existing research，puts forward some directions and recommendations for the research of mixed ownership reform in future，Including increase research on mixed ownership reform in practice，enrich case studies of state-owned enterprise reforms，explore the possibilities of foreign investment participate in state-owned enterprises reform and so on.
,KeyWords:49223,182585,140581,321820,376081,EKeyWords:116696,202801,116035,32811,376083,SubjectWords:,LiteratureId:10786897,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_002,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:01.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:27,ShowType:putong,LogoID:0,PdfID:10776712,DownCount:18,AuthorInfos:{"蔡琦":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"蔡琦，广西经济管理干部学院讲师，经济师。
"},"Cai Qi":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:党的十八大以来我国国有企业混合所有制改革的趋势与前景,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:党的十八大以来我国国有企业混合所有制改革的趋势与前景,_RowNo:5改革开放以来我国国有企业改革取得了长足的进步。本文回顾了改革开放以来我国国有企业改革经历的四个历史阶段，并分析了2015年9月13日颁布的《中共中央、国务院关于深化国有企业改革的指导意见》的历史意义和对新一轮国有企业改革的指导作用。本文从总体、商业类企业和公益类企业三个方面对国企分类改革提出对策。对于商业类国有企业，要依据不同性质企业的特点建立组织架构，建立完善的市场经济体系，并加快产权改革。对于公益类国有企业，要建立事业型经营管理制度，建立注重社会评价的考核体制，并且完善相应的监督法规。
,AbstractEN:Since the reform and opening up China’s state-owned enterprise reform has made great progress. This paper reviews the experience of the reform of state-owned enterprises in China’s four historical stages，analyses the historical significance and their guiding role in the new round of State-owned Enterprise Reform to the Guiding Opinions on Deepening the Reform of State-owned Enterprises promulgated by the Central Committee of the Communist Party of China and the State Council on September 13，2015. It also puts forward some countermeasures for the classification reform of state-owned enterprises from three aspects：general，commercial and public welfare enterprises. For commercial state-owned enterprises，the organizational structure and a perfect market economic system should be established according to the characteristics of enterprises of different nature，and property rights reform should be accelerated. For public welfare state-owned enterprises，we should build a business-oriented management system and an assessment system focusing on social evaluation，improve the corresponding supervision laws and regulations.
,KeyWords:47971,213992,79317,52430,EKeyWords:2787,193208,70997,33610,SubjectWords:,LiteratureId:10786898,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_003,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:02.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:35,ShowType:putong,LogoID:0,PdfID:10776723,DownCount:12,AuthorInfos:{"李强":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"李强，天津工商大学企业管理研究所研究员。
"},"Li Qiang":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:改革开放以来我国国有企业分类改革的历史回顾与发展思路,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:改革开放以来我国国有企业分类改革的历史回顾与发展思路,_RowNo:6我国经济发展已进入高质量发展的新阶段，组建国有资本运营公司将利于提高国有资本配置和运营效率，而资本市场的效率将决定经济发展质量。本文从国内外经济形势和国有企业现状出发，在借鉴国外国有资本运营公司经验的基础上，基于资本市场改革的视角阐述了资本市场改革对国有企业改革的影响，最后从布局金融科技、完善法律体系、改革考核激励机制、加强党组织的领导作用等方面提出了具体建议。
,AbstractEN:The reform of state-owned enterprises in China will enter a new stage of high quality development. The establishment of state-owned capital operation companies will improve the allocation and operation efficiency of state-owned capital，and the efficiency of capital market will determine the quality of economic development. Based on the domestic and foreign economic situation and the current situation of state-owned enterprises，and on the basis of drawing lessons from the experience of foreign state-owned capital operation companies，this paper explains the influence and support of capital market reform on the reform of state-owned enterprises from the perspective of capital market. Finally，it expounds the layout of financial science，technology and law. Specific suggestions are put forward on the reform of assessment and incentive mechanism and the leading role of party organizations.
,KeyWords:49223,310534,480976,EKeyWords:116696,311582,480977,SubjectWords:,LiteratureId:10786899,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_004,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:02.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:52,ShowType:putong,LogoID:0,PdfID:10776732,DownCount:19,AuthorInfos:{"孟庆江":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"孟庆江，就职于中国中投证券有限责任公司，高级经济师。
"},"Meng Qingjiang":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:新时代国有资本运营改革发展初探——基于资本市场改革的视角,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:新时代国有资本运营改革发展初探——基于资本市场改革的视角,_RowNo:7基于2018年国企改革进入新阶段的战略背景，本文以我国工业领域的国有企业为研究对象，通过构建双重差分模型实证研究混合所有制改革对国企经营效率的作用机制和可能影响途径，结论折射混改及政策性负担影响国企绩效的本质。结果表明：混改可以通过降低国企的政策性负担来显著提升企业绩效；所处东部地区和垄断行业的国企政策性负担下降幅度更为显著，混改提升绩效的效应更高。考虑到预算软约束和内部人控制等其他相关潜在因素的影响，结果依然保持刚性。研究还发现，预算软约束变量对企业绩效的影响具有滞后效应，内部人控制的影响不明显。
,AbstractEN:Based on the strategic background of the new stage of the state-owned enterprise reform in 2018，this paper takes the state-owned enterprises in China’s industrial field as the research object，empirically studies the mechanism and possible influence ways of mixed ownership reform on the operating efficiency of state-owned enterprises by constructing a double difference model，and concludes that mixed ownership reform and policy burden affect the performance of state-owned enterprises. Essence. The results show that mixed reform can significantly improve enterprise performance by reducing the policy burden of state-owned enterprises；the policy burden of state-owned enterprises in eastern regions and monopoly industries has a more significant decline，and the effect of mixed reform is higher. Considering the impact of soft budget constraints and other related potential factors such as insider control，the results remain rigid. The study also finds that soft budget constraints have a lagging effect on corporate performance，while insider control has no obvious impact.
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"},"Wen Yuchun":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:混改能给国有企业带来什么？,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:混改能给国有企业带来什么？,_RowNo:8党的十九大报告强调，要“健全金融监管体系，守住不发生系统性金融风险的底线”。作为决胜全面建成小康社会的三大攻坚战之首，打好防范化解重大风险攻坚战，重点是防控金融风险。加强国有企业资产负债约束是打好防范化解重大风险攻坚战的重要举措。2018年9月中共中央办公厅、国务院办公厅印发的《关于加强国有企业资产负债约束的指导意见》确定的目标是：促使高负债国有企业资产负债率尽快回归合理水平，推动国有企业平均资产负债率到2020年末比2017年末降低2个百分点左右。有关数据显示，当前国企资产负债率呈下降趋势，但仍处于高位，距离上述目标还有一定的空间。需要我们系统地分析国有企业高负债形成的原因、产生的危害，从而建立有效的国有企业资产负债内部和外部相结合的约束机制，有效降低国企资产负债率，保证国有企业健康发展，维护整个社会金融系统的稳定。
,AbstractEN:The report of the Chinese Nineteenth National Congress emphasizes that we should “improve the financial supervision system and guard against the bottom line of systemic financial risks”. As the priority of the three major battles to win a well-off society，we should focus on preventing and controlling financial risks. Strengthening the assets and liabilities of state-owned enterprises （SOE）is an important measure to prevent and resolve major risks. According to the objectives set by the Guidelines on Strengthening the Restriction of Assets and Liabilities of SOEs （hereinafter referred to as the Guidelines） issued by the Central Office of the Communist Party of China and the General Office of the State Council in September 2018，we should promote the return of assets and liabilities ratio of high-debt SOEs to a reasonable level as soon as possible，and lower the average assets and liabilities ratio by 2 percentage compared with the end of 2017. According to the relevant data，the current asset-liability ratio of SOEs is declining，but it is still at a high level. There is still some room for efforts to achieve the above goals. We need to systematically analyze the causes and hazards of SOE’s high liabilities，so as to establish an effective restraint mechanism combining internal and external assets and liabilities，effectively reduce the ratio of assets and liabilities，ensure the healthy development of state-owned enterprises，and maintain the stability of the entire financial system.
,KeyWords:47971,127130,68771,EKeyWords:84313,141017,480979,SubjectWords:,LiteratureId:10786901,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_006,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:02.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:24,ShowType:putong,LogoID:0,PdfID:10776750,DownCount:16,AuthorInfos:{"张志前":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"张志前，经济学博士，高级研究员，中国建投投资研究院副秘书长。
"},"石宝华":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"石宝华，经济学学士，中国建投投资研究院研究员。
"},"Zhang Zhiqian":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""},"Shi Baohua":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:国有企业资产负债约束机制研究,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:国有企业资产负债约束机制研究,_RowNo:9国有企业激励机制已经实施多年，但仍存在四个方面的问题。股权激励被认为是美国、欧洲、日本新经济的助推器。但金融危机的发生，使得美国各方主体对经营者股权激励的作用等进行反思。事业合伙人制度、虚拟股权制度和项目跟投制度是国有企业创新型激励机制的重点，能提高员工积极性和提升企业经营业绩。在未来国有企业股权激励机制设计上，仍需要不断完善，提高操作性。
,AbstractEN:The incentive mechanism of state-owned enterprises has been implemented for many years，but there are still four problems. Equity incentives are seen as a boost to the new economy in the us，Europe and Japan. However，the occurrence of financial crisis makes all parties in the United States reflect on the role of equity incentive for operators. The business partner system，virtual equity system and project investment system are the key points of the innovative incentive mechanism of state-owned enterprises，which can improve the enthusiasm of employees and the business performance of enterprises. In the design of the equity incentive mechanism of state-owned enterprises in the future，it still needs to be improved and operational.
,KeyWords:480980,480981,480982,480983,EKeyWords:480984,480985,480986,480987,SubjectWords:,LiteratureId:10786902,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_007,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:03.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:40,ShowType:putong,LogoID:0,PdfID:10776761,DownCount:22,AuthorInfos:{"孙静":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"孙静，清华大学公共管理学院博士后。
"},"许涛":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"许涛，清华大学21世纪研究院研究员。
"},"Sun Jing":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""},"Xu Tao":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:国有企业创新型激励机制探析,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:国有企业创新型激励机制探析,_RowNo:10自2014年政策启动，到2017年“9号文”和“3号文”的出台，我国跨境融资已更加便利，国内企业可充分利用境内外市场资源。在降低融资成本、多元化融资渠道、资金灵活使用和助力国家战略的动力之下，中央企业应积极参与跨境融资。内保直贷模式、海外直贷模式、内保外贷模式、境外发债模式、国际股票融资模式、可交换债融资、过桥融资等是主要跨境融资模式。在跨境融资中也存在汇率和利率风险、跨境融资流程相关知识缺乏和逆向选择等问题，对此可采取可交叉货币利率互换、积极熟悉跨境融资相关流程、共建信用信息共享机制等措施来应对上述问题。
,AbstractEN:China’s cross-border financing policy started in 2014. By the introduction of “No.9 Document” and “No.3 Document” in 2017，cross-border financing has become more convenient，and domestic enterprises can make full use of domestic and overseas market resources. Under the impetus of reducing financing costs，diversified financing channels，flexible use of funds and supporting national strategies，state-owned key enterprises should actively participate in cross-border financing. Domestic and foreign currency loans，bond issuance，international equity financing，exchangeable bond financing，and bridge financing are the major cross-border financing modes. Foreign exchange swaps and cross-currency interest rate swaps can effectively address exchange rate and interest rate risks in cross-border financing.
,KeyWords:480988,31771,33714,EKeyWords:480989,47650,480990,SubjectWords:,LiteratureId:10786903,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_008,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:03.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:32,ShowType:putong,LogoID:0,PdfID:10776778,DownCount:8,AuthorInfos:{"周帅":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"周帅，经济学博士，辽宁大学转型国家经济政治研究中心研究员，《转型国家经济政治动态》编辑部主任。
"},"Zhou Shuai":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:中央企业跨境融资政策运用研究,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:中央企业跨境融资政策运用研究,_RowNo:11政府融资平台公司或城投类企业并非中国特有，美国和日本等发达国家同样存在承担政府特定投资、融资职能的专门机构或特殊目的公司。地方融资平台公司市场化转型发展是基础设施和公共服务领域市场化、产业化改革的必然要求，也是理顺地方政府、国有企业和金融资本三者责权利关系的必由之路。促进融资平台公司市场化转型的重点在明确公益性国有企业的发展定位、健全法人治理结构、剥离政府融资职能、培育核心竞争力、加强投资项目可行性研究论证、规范债务融资行为等方面。为进一步明确政府与融资平台公司的责权利关系，加快促进融资平台公司市场化转型，建议建立政府授权投资体制，并专门针对融资平台公司进行立法。
,AbstractEN:Government financing platform companies or city investment enterprises are not unique to China. There are also special institutions or SPV in developed countries，such as the United States and Japan，which undertake specific government investment and financing functions. Market-oriented transformation and development of the local financing platform companies is the inevitable requirement of market-oriented and industrialized reform in infrastructure and public services，and also the only way to straighten out the responsibility-right relationship among local governments，state-owned enterprises （SOEs） and financial capital. The key points of promoting the market-oriented transformation of financing platform companies are to clarify the development orientation of public welfare SOEs，improve the corporate governance structure，strip the government’s financing function，cultivate core competitiveness，strengthen the feasibility study and demonstration of investment projects，and standardize debt financing behavior. In order to further clarify the responsibility-right relationship between the government and the financing platform companies，and accelerate the market-oriented transformation of the financing platform companies，it is proposed to establish a government-authorized investment system，and to legislate specifically for the financing platform companies.
,KeyWords:113568,176661,480991,3647,EKeyWords:60738,176662,480992,27445,SubjectWords:,LiteratureId:10786904,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_009,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:03.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:41,ShowType:putong,LogoID:0,PdfID:10776793,DownCount:27,AuthorInfos:{"吴亚平":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"吴亚平，国家发展改革委投资研究所体制政策室主任、研究员。
"},"Wu Yaping":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:促进地方融资平台公司市场化转型,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:促进地方融资平台公司市场化转型,_RowNo:12本文综合创新型企业理论和吸收能力理论，尝试构建了一个解释性框架，以期在主流理论之外寻找一套更接近微观事实的逻辑来理解中国国有工业企业的创新驱动。文章以三个国有企业的案例作为这一框架的佐证，并在此基础上提炼了案例企业的关键共性。文章的最后说明了国企创新对于提升中国工业竞争力的重要意义，并给出了相关政策建议。
,AbstractEN:Based on the theory of innovative enterprises and absorptive capacity，this paper tries to develop an explanatory framework to understand the micro logic of innovations in Chinese state-owned industrial enterprises which is beyond the popular logic. Three SOE cases are taken as empirical evidence for the framework，and are induced to some key commonalities. The final part discusses the significance of innovation in SOE from the perspective of industrial competitiveness，and gives policy implications.
,KeyWords:47971,40892,419726,181810,EKeyWords:119845,30731,419729,57343,SubjectWords:,LiteratureId:10786905,Fileref:null,OrderFlag:0,IsLeaf:N,PubDate:null,FindDate:null,IssueDate:null,DocType:null,ProductSeries:null,Doi:null,InstanceID:0,MinNodeSearch:Y,XmlID:b120190301X20193015001_000_010,Prop1:null,Prop2:null,Prop3:null,prop4:null,AddUser:jiangshan,AddTime:2019-04-03 10:15:03.0,ModifyUser:Admin,ModifyTime:2021-11-03 03:40:01.0,HitCount:19,ShowType:putong,LogoID:0,PdfID:10776804,DownCount:19,AuthorInfos:{"孙喜":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":null,"Blurb":"孙喜，首都经济贸易大学工商管理学院副教授，博士，主要研究方向为工业研究与科技政策。
"},"Sun Xi":{"Address":"","Affiliation":"","Email":"","Role":null,"Photo":"","Blurb":""}},BookPublishDate:2019-03-01 00:00:00.0,SearchTitle:中国国有工业的创新驱动：可能、意义与改革方向,ISBN:978-7-5201-4383-7,BookTitle:建投投资评论（2019年 第一期 总第9期）,BookStatus:7,AllowDownload:Y,BookVersionNum:null,researchorg:null,CopyRightDate:null,ExcellentPeriod:null,PrizeLevel:null,IsExcellence:null,ContentClass:null,IsDisabled:N,SearchTitle_2:中国国有工业的创新驱动：可能、意义与改革方向,_RowNo:13
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