The 14th National Congress of the Communist Party of China (1992) clearly stated that the goal of China's economic system reform is to establish a socialist market economic system, which is a major breakthrough and historic decision with overall situation. 1993 The Third Plenary Session of the 14th CPC Central Committee made the Decision of the Central Committee on Several Issues Concerning the Establishment of a Socialist Market Economic System, which outlined the basic framework of China's market economic system and described the overall blueprint for economic system reform. The 15th National Congress of the Communist Party of China (1997) put forward that the forms of public ownership can and should be diversified, and all management modes and organizational forms that embody the law of socialized production can be boldly adopted. For the joint-stock system, capitalism can be used as well as socialism. Ownership and the concrete realization form of ownership are two different concepts, and the shareholding system is a realization form of ownership, which is neither named "society" nor "capital". The Sixteenth National Congress of the Communist Party of China requires that, except for a few enterprises that must be wholly owned by the state, we should further explore various effective forms of public ownership, especially state ownership, actively promote the shareholding system and develop a mixed ownership economy. The "Decision" of the Third Plenary Session of the 16th CPC Central Committee clearly stated for the first time that the shareholding system should become the main realization form of public ownership, from one realization form of public ownership to the other. This is a deepening and leap in the understanding of the realization form of public ownership, a major theoretical breakthrough, and a deepening of the understanding of public ownership and its realization form under the condition of market economy, which will certainly have a significant and far-reaching impact.
Taking the shareholding system as the main form of public ownership is an objective requirement for the development of China's economic system reform practice. The deepening of understanding and theoretical innovation come from the great practice of the people. In the process of economic system reform, how to realize the diversification of public ownership has created many forms in practice. Ownership of the same nature can have different modes of operation and organizational forms in different enterprises. For example, state-owned enterprises can be state-owned, contracted, leased, shared or jointly operated. Different types of ownership can adopt the same management mode and organization form in different enterprises, such as enterprises owned by the whole people, enterprises owned by collectives and enterprises owned by private individuals, and all of them can develop mixed ownership economy by means of sole proprietorship, shareholding and holding. In the practice of exploring the diversification of public ownership, the shareholding system, as a mode of operation and organization, has adapted to the requirements of socialized mass production, market economy development and economic system reform, and has risen and developed rapidly. In the early 1980s, some enterprises broke through the boundaries of regions, departments and ownership, joined forces horizontally, took shares with capital, technology and equipment, and raised funds in the form of shares to develop projects or start new enterprises. After nearly 20 years of hard exploration, pilot, expansion, promotion, continuous development of practice and theoretical breakthroughs, the shareholding system has become the main form of public ownership, which is a scientific conclusion made by practice.
Taking the shareholding system as the main form of public ownership, adapting to the development requirements of advanced productive forces, is conducive to liberating and developing social productive forces. Joint-stock system is a form of capital organization of modern enterprises. Joint-stock enterprises are economic organizations with independent legal personality composed of many investors. It comes from the development of capitalist economy and is the product of socialized mass production. It concentrates the capital belonging to different owners in the form of shares for operation and operation, realizes equity equality, shares the benefits, enjoys the benefits and takes risks. According to China's company law, there are two main organizational forms of joint-stock enterprises: limited liability companies that cannot publicly issue shares and joint-stock companies that can publicly issue shares and circulate them. Joint-stock cooperative enterprises are also joint-stock companies. Productivity determines relations of production, and relations of production must meet the development requirements of productivity. With the rapid development and wide application of science and technology, China's productivity level is constantly improving, which requires the realization of public ownership to promote the development of productivity, especially to meet the development requirements of advanced productivity. As the main form of public ownership, shareholding system has the function of liberating and developing productive forces. First, the shareholding system is conducive to gathering various factors of production and promoting the development of productive forces. Through the shareholding system, capital, technology and talents can be gathered or reorganized to promote the effective flow of production factors, especially to open up new financing channels, transform social funds and consumption funds into production and construction funds, and gather funds for key development and construction projects. Second, the shareholding system is conducive to improving economic efficiency. Due to the diversification of investors, joint-stock enterprises pursue profit maximization to ensure the economic interests of shareholders, which is conducive to maintaining and increasing the value of state-owned assets and improving the efficiency of the use of state-owned assets. Third, the joint-stock system is conducive to separating government from enterprises and moving towards the market. Joint-stock enterprises operate in accordance with the company law, and the shareholders' meeting is the highest authority of the company, which can reduce administrative intervention, better coordinate the production, operation and interest relations among localities, departments and enterprises, and promote industrial restructuring and enterprise group development. Fourth, the shareholding system promotes the separation of the two rights and the transformation of the enterprise management mechanism. Joint-stock enterprises dominate and enjoy investors' property in the form of diversified and compound property, forming larger joint funds and enterprise property, which inevitably requires the separation of ownership and management rights, the implementation of corporate governance structure, the promotion of enterprises' transformation of operating mechanism and the improvement of enterprise capital operation efficiency. In short, what is the nature of the shareholding system? What's the matter with you? Manganese? What is Lu's address? It is precisely because we strive to find a form of public ownership that can promote the development of productive forces that we can better adapt to the development requirements of advanced productive forces in China.
Taking the shareholding system as the main form of public ownership is an important measure to improve the socialist market economic system and enhance the vitality of state-owned enterprises. China implements a basic economic system with public ownership as the main body and multiple ownership economies developing together. To improve the socialist market economic system, we must adhere to this basic economic system and the dominant position of public ownership. Taking the shareholding system as the main realization form of public ownership can uphold and strengthen the dominant position of public ownership. The dominant position of public ownership is mainly manifested in the dominant position of public assets in the total assets of society, and the state-owned economy controls the fate of the national economy and plays a leading role in economic development. However, the joint-stock system cannot be generally said to be public or privately owned. The key is who holds the controlling stake. State and collective holding have obvious public ownership nature. Taking the shareholding system as the main realization form of public ownership is conducive to expanding the control scope of public capital, enhancing the control, cohesion and influence of state-owned economy, upholding and enhancing the dominant position of public ownership, and also conducive to the participation of non-public ownership economy in state-owned enterprises, providing a rare development opportunity for private capital. Adhering to the basic economic system, strengthening the dominant position of public ownership and vigorously developing and actively guiding the non-public economy have laid a solid foundation for improving the market economic system and deepening various reforms, and also ensured the correct direction of economic system reform. At the same time, taking the shareholding system as the main form of public ownership is conducive to the strategic adjustment of the state-owned economy and invigorating state-owned enterprises. The 15th National Congress of the Communist Party of China, especially the Fourth Plenary Session of the 15th Central Committee, proposed to strategically adjust the layout and structure of the state-owned economy and reorganize the state-owned enterprises. The key is to take capital as a link. As the main form of realization, joint-stock system can improve the mechanism of rational flow of state-owned capital, and implement absolute holding, relative holding, appropriate equity participation or even complete withdrawal according to different situations, which not only enhances the control and competitiveness of state-owned enterprises, but also leaves a broad world for non-public economy to enter state-owned enterprises. How to strengthen the vitality of state-owned enterprises and establish a modern enterprise system has always been the central link and major issue of economic system reform. Taking the shareholding system as the main form of public ownership, the reorganization of state-owned enterprises and the diversification of investors will bring about the rationalization of the shareholding structure and the diversification of economic interests, which requires perfecting the corporate governance structure, implementing the system of mutual restraint among shareholders' meeting, board of directors, managers and board of supervisors, establishing a diversified power structure, reflecting the division and restriction of power, which is conducive to improving the operating efficiency of enterprises and capital, mobilizing the enthusiasm of all parties, and thus enhancing the vitality and vitality of state-owned enterprises. At present, according to the requirements of modern enterprise system, many state-owned enterprises implement corporate governance structure and follow the operation mechanism of market economy, which has realized diversification of investment subjects, marketization of investment sources and diversification of investment methods, accelerated the diversification of state-owned enterprises and promoted their rapid development in an all-round way.
Taking the shareholding system as the main form of public ownership requires not only a new improvement in understanding, but also new progress in practice. Since the reform and opening up, with the continuous development of market economy, every breakthrough and innovation of China's economic theory has brought great vitality to the development of national economy and accelerated economic and social development. This also proves that theoretical innovation based on practice is the forerunner of social development and change. The decision adopted by the Third Plenary Session of the 16th CPC Central Committee clearly put forward for the first time to vigorously develop the mixed ownership economy, realize the diversification of investors, and make the shareholding system the main form of public ownership, which will greatly promote the development of joint-stock enterprises and further liberate and develop productive forces. To adapt to this trend, we should not only raise awareness, but also implement it in practice, especially in Guizhou, where economic development is lagging behind, and shoulder double responsibilities. Guizhou has a large proportion of state-owned economy, the development of shareholding system lags behind, and the transformation of state-owned enterprises is slow. By 2002, only 32 large and medium-sized state-owned enterprises in the province 19 1 had truly diversified their investment subjects, less than 20%. There are 60 key state-owned enterprises and 23 state-owned enterprises in the province, accounting for 38.3%. According to the degree of holding, 56 households are absolutely holding, up to 93.3%. There are few joint-stock enterprises, and after the reform, they are still wholly-owned companies or a monopoly, so it is difficult to play the role of joint-stock companies and expand investment and financing channels. Therefore, vigorously developing joint-stock enterprises has great potential and great achievements, which can not only liberate and develop the huge productivity of state-owned enterprises, but also actively promote the development of non-public economy and accelerate the economic development of Guizhou.