国有企业

Competent commercial departments at all localities shall actively coordinate pertinent local departments for support small and medium circulation enterprises to promulgate tax and financial support policies related to pioneering work encouragement and supports given to small and medium circulation enterprises for business innovation, technical innovation and market exploration, reduce costs for the restructuring and reform of small and medium circulation enterprises, encourage the financing by means of income from operation of state-owned enterprises' assets, liquidity of commercial land, reduction of state-owned capital in circulation enterprises, transfer and financial allocation, in places where conditions permit, set up special funds for the reform of state-owned small and medium circulation enterprises which shall be used to pay the restructuring fee which is payable by and fails to be paid by restructured enterprises lacking strength to do so, and to pay the social insurance and economic compensation, the payment of which the cash after liquidity of assets of enterprises in bankruptcy is not sufficient to cover, actively coordinate with the local department for real estate administration for its support, solve problems on the ownership of commercial real estate which has been used for long by state-owned small and medium circulation enterprises, and earnestly implement the preferential policies of the State concerning the reemployment of laid-off workers by enterprises and concerning the establishment of small and medium enterprises by laid-off workers from state-owned enterprises.

各地商务主管部门要积极协调当地有关部门出台鼓励创业、支持中小流通企业经营创新、技术创新和开拓市场的税收政策和金融支持政策，降低中小流通企业的改革、改制成本。鼓励有条件的地方通过国有企业资产经营收益、商业用地变现、流通企业国有资本减持、转让以及财政拨付等方式筹措资金，建立国有中小流通企业改革的专项资金，用于无力支付改制费用企业的改制费用以及破产企业资产变现后不足支付职工社会保险、经济补偿等方面费用。要积极协调，争取地方房产管理部门的支持，解决国有中小流通企业长期使用的商业用房产权归属问题。要认真落实国家关于企业吸纳下岗职工就业和国有企业下岗职工创办中小企业的优惠政策。

Our country's financial system requires the use of the percentage of accounts receivable balance of provision for bad debt reserve method, the ratio of its different provision, such as agricultural enterprises, construction companies, real estate development enterprise provision ratio of 1%; foreign cooperative enterprises 2 %; foreign-invested enterprises do not exceed 3%; other industries by 0.3%-0.5% Provision for bad debts reserve.

"合资"及"独资"企业与国有企业间坏账提取比率不同，加大了"合资"及"独资"企业与国有企业间的收益的差异，加大了国民收入分配的不均衡性。其原因是"独资"、"合资"企业与国有企业间应付风险能力的差距加入。我国现行财会制度规定：农业企业可按年终应收账款余额的1％计提坏账准备，工商企业应按应收账款的0.3％－0.5％计提坏账准备，对于一般企业来说，如此少的坏账准备金是难以承担坏账带来的风险的。

Thus the paper puts forward that different forms of expression should be adopted in different fields, the results are as follows: As to the Industry involving national military security, economic security and cultural security, the state-owned capital should be in the form of single proprietorship or conditional diversification, that is to say, taking the solely state-owned company as its main body. As to the strategic industry and basic industry in the vital position to the national economy, the state-owned capital should be As to the strategic competitive industry which plays an important role in development of national economy and society, the state-owned capital account for a certain proportion with the freedom to select holding shares or taking equity participation. As to the industry related to non-strategic competitive fields, state-owned capital does not necessarily exist in the form of state-owned enterprise, it can also obtain the stock right to share the benefit, and to cooperate, even compete with other capitals appropriately.

由此提出了国有资本在不同领域应采取不同的表现形式：在涉及国家军事安全、经济安全、文化安全的产业内，国有资本只能是独资或有条件的多元化，也就是以国有独资公司为主；在关系国民经济命脉的战略产业和基础产业内，国有资本必须保持控股，即还将保留相当数量的国有企业；在对国民经济和社会发展具有重要作用的战略性竞争产业内，国有资本仍要占有一定比重，但可以根据具体情况选择控股和参股；在非战略性竞争领域的产业内，国有资本不一定必须要采取国有企业的形式存在其中，完全可以以股权的形式参与进来，适度与其它性质的资本开展合作与竞争。

Firstly, this paper discussed the principle and agent theory, the corporate governance theory and supervision theory. Second, the paper analyzed special several-levels principle-agent relations of the state-owned enterprise, and used the principle -agent theory and the game theory to analyze several problems caused by this, such as the supervision function avianization about the owner, the enterpriser"s rent-seeking activity, the enterpriser"s conspiracy behavior and the insider control. Thirdly, the paper discussed the present situation of the supervision and restraint system from the management model of the three-levels authorization, financial general supervision system, the corporate governance and the outsider supervision and restraint system. The paper thought that the supervision and restraint system had the following problems: supervision and restraint system was imperfect, the property right restraint was lack, the restraint system was administrative and the supervision system was deformity.

本文首先讨论了经营者监督约束机制的委托代理理论、公司治理理论和监督理论：其次，深入分析了国有企业特殊的多级委托代理关系，并用博弈理论及委托代理理论分析了由此产生的各种问题，如所有者监督职能弱化、国有企业经营者的寻租行为、国企经营者合谋及内部人控制等；再次，本文从三级授权经营模式、财务总监制、公司治理结构及经营者外部监督约束等方面研究了我国经营者监督约束机制的现状，本文认为国有企业经营者的监督与约束存在以下问题：国有股份多级代理与监督约束弱化；国家股东对国企经营者缺乏产权约束，监督约束机制不完善；国有股份高度集中与监督约束的行政化；监督约束机制单一化与监督约束畸形化。

To play the political key role of state-owned enterprise Party organization is the scientific conclusion that the third generation leading group of the Party Central Committee draws on the basis of summarizing the historical experiences in construction、 reform and development of state-owned enterprise since founding the PRC especially since reform and opening to the world, and is the inevitable requirement for state-owned enterprise leading Party organization to become the organizer、 promoter and practician...

发挥国有企业党组织政治核心作用是党中央第三代领导集体总结建国以来尤其是改革开放以来国有企业建设、改革、发展的历史经验得出的科学结论，是国有企业党组织成为贯彻&三个代表&重要思想的组织者、推动者、实践者及建立中国特色现代企业制度的必然要求。十六大《党章》对国有企业党组织政治核心作用的主要体现做出了准确的表述。

First, it expounded foundational theories of capital operation especially about related state-owned enterprise, then it put forward the SOCO State-Owned Capital Operation Model which had directly aimed at self characteristic and the circumstances of our big-and-middle state-owned enterprise .

首先，本文在对有关资本运营、尤其是国有企业资本运营的相关理论基础作了阐述以后，针对我国大中型国有企业的自身特点和情况，提出了SOCO国有资本运营实施模型(State-Owned Capital Operation Model)，该模型将资本运营的整个实施过程划分为概念层、运作层、支撑环境层三个层面，围绕着三个层面，本文对国有大中型企业如何有效开展资本运营作了详细的论述和探讨，最后在分析我国国有大中型企业现状的基础上，结合本文所提出的SOCO模型，对我国国有大中型企业实施企业资本运营提出了一些建议。

Due to the change of the main body of power and functions caused by internal contra- diction of public owiership,its property right structure is manifested as an organic system fonned by ownership, right of possession and right of man- agement, among which ownership plays a main role, dominates and super- vises the function of the other two rights....

其中，所有权居于主导地位，控制并监督其它两项权利的运行。传统体制下，受文化和理论的双重影响，公有制畸变为国家所有制，行使占有权的国家机构变成所有权主体，这成为国有企业的症结所在。国有企业出现所有者缺位、经营权改革无法到位以及巨额国有资产流失等诸多问题。为保证经济的健康发展，必须在确立劳动者的个人所有权基础上重建国有企业产权体系。为此，人民代表大会、国有资产占有委员会、国有资产经营公司、企业成为构建国企产权体系的重要环节。

It is important for us to change the structure of state-owned property rights and distribute state-owned enterprises rationally and increase the worker"s work positive of state-owned enterprises and the benefit and efficiency by reforming state-owned enterprises" property rights, forcing reformation of state-owned asset system, reorganizing state-owned enterprises strategically.

在产权制度层面对国有企业进行改革，推动国有资产管理体制创新及国有企业的战略性改组对于优化国有企业的产权结构，合理分布国有企业的产业布局，提高国有企业治理结构的有效性，对于调动广大国企工作人员的工作积极性，提高国有企业的效益和效率至关重要。

On the bases of investigating and grasping the materials about the AHPPEs, AHPPEs' developing situation is analyzed completely in this article on vertical direction of time order and horizontal direction of department, in the meantime, material buying process, capital's using rate, and product selling process are also analyzed completely. Pointing out because the differences of owning right among State-Operated Enterprises, Collectively Operated Enterprises and Privately Operated Enterprises, there are differences in the producing behavior and trade development.A. According to the theory of producer behavior, POEs is on the way from stageⅠto stage Ⅱ,economic interests increasing;COEs is on the end of stageⅡ,economic interests decreasing;SOEs on stage Ⅲ,economic interests is negatively increasing.Model analyzing method shows that scale economic doesn't exist in SOEs and COEs, but POEs is the reverse.B. Different owning right enterprises have great differences in the respect of capital scale,product making and selling processes, at last SOEs and COEs' economic interests is much less than that of POEs. Scale economic doesn't exist in SOEs and COEs, POEs have the potential of developing scale economic, furthermore, the new-coming horizontal in the horizontal structure have the good situation.

在跟踪调查掌握资料的基础上，文章对该区农畜产品加工企业的发展状况从时间序列的纵向和行业结构的横向进行了比较分析，同时又从原材料购买过程、资金的利用效率以及产品的销售过程等各个方面进行了全方位地剖析，指出由于企业存在着国有、集体和民营产权类型的不同，导致生产行为和行业发展存在着差异：A、生产者行为理论分析总结出，民营企业正在处于第Ⅰ阶段向第Ⅱ阶段的过度区，经济效益上升；集体企业处于第Ⅱ阶段的末端，经济效益下降；国有企业处于第Ⅲ阶段，经济效益负增长。B、不同产权企业在资金规模，产品的生产和售卖过程上存在着很大不同，最终导致国有和集体企业经济效益比民营企业要差得多，用模型方法分析得出结论：国有企业和集体企业都不存在规模经济，而民营企业存在规模经济的发展潜力，并且在行业结构中属于民营产权的新兴行业发展状况良好。C、行业间也存在着很大的不同：集体企业的优势行业是制酒、粮食加工和肉食品加工等行业；民营企业的优势在皮件类、服装、粮食加工和制酒等行业；国有企业当中食品加工、肉食品加工和食品冷库类是优势行业。

In Q109, but April +0.4% MoM; 5 Industry split: steel and shipping continued to see losses; petrochemical , machinery and auto saw smaller earnings drop; coal, building material and trading saw stable profits; tobacco and property saw earnings increase.

国企：财政部昨日公布的1—4月全国国有及国有控股企业经济运行情况显示：1）营业收入：1—4月，全国国有企业实现营业收入同比下降7.3%，降幅比1—3月缩小0.3个百分点，4月比3月环比下降5.1%；中央企业实现营业收入4月比3月环比下降10.5%；2）利润：1—4月，全国国有企业实现利润同比下降32.3%，降幅比1—3月缩小4.5个百分点；4月为连续第9周同比下降，但环比上升；其中，中央企业实现利润4月比3月环比下降4.8%；3）成本：1—4月，全国国有企业营业成本同比下降7.1%，管理费用、财务费用同比分别增长2.4%、15.9%；4）存货：1—4月，国有企业存货同比增长13.1%，增幅比1—3月减少1个百分点，4月末比3月末增长0.4%；5）分行业看，钢铁、海运行业继续亏损；石油石化、机械、汽车等行业实现利润降幅收窄；煤炭、建材、商贸等行业实现利润较为稳定；烟草、施工房地产行业实现利润进一步提高。

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。