By Xiao Qingwen, Research Team on “Prominent Conflicts in Deepening State-owned Enterprise Reform and Countermeasures”, Enterprise Research Institute, DRC

Research Report No 192, 2015 (Total NO 4877) 2015-12-18

Abstract: Developing the mixed-ownership economy is a crucial measure for deepening state-owned enterprise reform. Through data mining and analysis on companies’ industrial and commercial registration, it is found that mixed ownership has witnessed an increasing number of enterprises and registered capital among state-investing businesses, covering around a half now and becomes a key approach to reinforcing state-owned assets. Mixed ownership takes up less than 20 per cent among all businesses in terms of corporate registered capital and presents a downward trend momentum. The overwhelming majority of mixed-ownership enterprises are joint ventures by state-owned assets and domestic private capital; despite the large number of natural persons investing in mixed-ownership enterprises, their registered capital accounts for a small part. Among mixed-ownership businesses, non-state-owned capital takes up less than one third. Among the industries densely populated by state-owned assets, mixed-ownership enterprises has a lower proportion than that in industries sparsely populated by state-owned assets, which shows that the level of industrial regulation affects development of mixed-ownership. Only by advancing industrial reform and expanding opening to both home and abroad markets can the mixed-ownership formed under a fully competitive environment be enabled to become the key measure for enhancing the efficiencies of state-owned enterprises.

Key words: mixed ownership, state-owned enterprise reform, market entities, data mining