Wu Jinglian: To Restore Market Competitiveness, It Is Useless To Build The System.

Wu Jinglian, a leading researcher in Chinese economics and development research center of the State Council, talked about the problem of how to reform state-owned enterprises at Zhejiang University on 3 th. He said that, on the one hand, we should restore the competitiveness of the market and let the market play a decisive role in the allocation of resources, which is based on the establishment of a unified, open, competitive and orderly market system.

It was put forward in the third Plenary Session of the 18th CPC Central Committee that actively developing the mixed ownership economy is considered to be the main path for the new round of state owned enterprise reform.

Wu Jinglian introduced the history of the reform of state-owned enterprises. He said that the joint-stock reform of state-owned enterprises was first put forward by several economists around 1984, and there were more studies on the company system by 1993.

"In 1993, the direction of the reform of state-owned enterprises is not institutional decentralization, but institutional innovation. This system is a modern corporate system."

Wu Jinglian recalls.

In 1993, China's first "company law" was promulgated.

"The core issue of the company law is not clearly stated - corporate governance."

Wu Jinglian said.

"In 1999, two articles were put forward. All companies must establish effective corporate governance structure. The other is to emphasize mixed ownership, that is to say, in addition to a handful of enterprises that need to be monopolized by the state, they must diversify their shares."

Wu Jinglian said that the reform at that time consisted of three contents: separation of government and enterprises, withdrawal of state capital from competitive sectors, and establishment of effective corporate governance structure.

"Someone said

It's superiority. Efficiency is high. Mule is a horse that pulls out and you can see that a mule is a horse.

Wu Jinglian said.

He proposed to restore the market.

We must let the market play a decisive role in the allocation of resources, which is based on the establishment of a unified, open, competitive and orderly market system.

"No matter what the call is, you need to play a decisive role. If you do not build the foundation of the system, then call it useless."

Wu Jinglian said that we should establish a unified, open, competitive and orderly manner.

That is to say, all markets have four characteristics, that is, they are unified, open, competitive and orderly.