国有

Corporations get victory by business culture in 21 century, but Chinese state electric power corporation business culture drop behind the corporation's other aspect and the era, for this matter, Chinese state electric power corporation by any possibility on bad situation in competition.

21世纪是文化致胜的时代，而我国国有电力企业的文化建设已严重滞后于时代和企业其他方面的发展，企业文化的落后已经影响到国有电力企业管理水平的提高，将会使其在竞争中处于不利地位。

With the reformation of state enterprises and the rising proportion of non-state sectors, the ineffective disposition of rare capital has been reduced. The significant contribution of captital has been identified extensively.

随着国有企业深入改革和非国有经济比例的上升，稀缺资本无效配置的现象逐渐减少，资本对产出的贡献已经作为一个很重要的因素被广泛认同，许多经济发达国家的统计部门都对资本存量进行定期调查并公布核算结果。

Secretary for the Ministry of Finance to run enterprise staff, said yesterday that central enterprises and local differences in the profits of state-owned enterprises, mainly because this year, the petroleum, petrochemical and electric power industries declining level of profitability of these enterprises are central enterprises, so this difference are structural problems.

局长财政部运行企业职工，昨天表示，中央企业和国有地方差异的利润，国有企业，主要是因为今年以来，石油，石化，电力等行业下降，这些企业的盈利水平是至关重要企业，使这种差别是结构性问题。

State-owned enterprises in Chinese undeveloped regions particular have their own characteristic which the number is not many but holds the balance in national industry.

由于我国欠发达地区的国有企业具有独有的特点，虽然数量不多但在全国工业中的地位举足轻重，因此研究如何为转型时期欠发达地区的国有企业提供有效的制度供给有着重要的现实意义。

Shareholders are short of a restriction-and-balance mechanism. For state-owned enterprises, the final managers of the assets are holding the absolute majority of shares and indifferent to asset efficiency. For civil enterprises, the enterprise under control may just be a chessman on board, which means its strategy can be scarified for exchange for holding companies'interests. Different information advantages cause different supervision costs. Large costs can cause the shareholders to waive the supervision rights, which may be acquired by other stakeholders like managers, so even dispersive shareholder structure may go through strategic failure. The healthiness of external supervision regulation can influent the strategic participation of shareholders, since it directly influents the interest expectation of shareholders.

对国有企业来讲，大部分存在一股独大的特征，而国有资产最后管理者缺乏对资产效益的内在关心，这是导致管理者缺位的关键；对民营企业来讲，被控股企业可能是其投资安排的一个棋子，如果牺牲部分利益可以换得更多利益，或者能够将股份公司的利益直接转移到控股公司，企业的战略失败就很难避免；股东们的信息优势不同，造成监督代价不同，如果监督的代价过大就会导致股东放弃监督，而股东放弃的监督权必然被其他利益相关者，如经理人获得并被利用，因此分散的股东群体也可能出现战略失败；外部监督法规的健全与否对股东的战略参与行为有重大影响，因为它直接影响了股东的利益预期。

Therefore, from viewpoint of economic evaluation, damnification of thestate-owned assets exists from the abroad IPO of Sinopec.

因此，从经济评价的角度来说，中国石化股票的海外上市存在着国有资产流失的问题；然而与此同时，我国的大量社会资本并没有机会享有这份国有经济发展的成果。

In the case that a state-owned enterprise lacks the ability to repay the debt due for repayment, however neither the debtor nor the debtee apply to declare the debtor bankrupt, the department in charge of the state-owned enterprise may apply to declare the enterprise bankrupt.

国有企业不能清偿到期债务，债权人和债务人均不提出破产申请的，国有企业产权主管部门可对其提出破产申请。

The structure of state-owned capital refers to distribution and relation of ratio among differentindustries,enterprises,districts and so on.

国有资本结构是指国有资本在不同产业之间、不同规模的企业之间、不同地区之间等方面的分布状况和比例关系。

There is creativity in China, there is confidence in China, China at change Thousand year history of great and impressive country, thousand year cultural bottom Yun of deep accumulate Dian, from open painting winding of that for an instant beginning to pleasing way in the world~ China of ancient times four big invention, thou Chinese characters of deduce for thousand years variety, from the Silk Road, fly of Dun Huang day, arrive sea of china, the road of pottery, from the city play, Kun song and too pole ……Tang poem Sung phrase....

中国有创意，中国有信心，中国在改变千年历史的泱泱大国，千年文化底蕴的深厚积淀，从打开画卷的那一瞬间开始就向世界娓娓道来~中华的古代四大发明，古汉字的千年演绎变化，从丝绸之路，墩煌的飞天、到海上的瓷器，陶器之路，从京剧、昆曲、太极……唐诗宋词。。。。。

But he says have it is right that I feel, change in state-owned company namely nibble and embezzle appeared really in making the circumstance of state-owned asset.

但是他说的有一条我觉得是对的，就是在国有企业改制中确实出现了蚕食和侵吞国有资产的情况。

I didn't watch TV last night, because it .

昨晚我没有看电视，因为电视机坏了。

Since this year, in a lot of villages of Beijing, TV of elevator liquid crystal was removed.

今年以来，在北京的很多小区里，电梯液晶电视被撤了下来。