What's the difference between listed companies and state-owned enterprises?

1. Listed company: refers to a listed company that the government or state-owned enterprise (unit) owns more than 50% of the share capital, although the shareholding ratio is less than 50%, but has actual control (the right to control the business decisions, assets and financial status of the enterprise and obtain capital gains from it) or the shares it holds are sufficient to have a significant impact on the resolutions of the shareholders' meeting.

2, state-owned enterprises, in international practice, only refers to a country's central government or federal government investment or participation in the control of enterprises. In China, state-owned enterprises also include enterprises invested and controlled by local governments. The will and interests of the government determine the behavior of state-owned enterprises. As a form of production and operation organization, state-owned enterprises have the characteristics of both profit-making legal persons and public welfare legal persons. Its profitability is reflected in the pursuit of maintaining and increasing the value of state-owned assets. Its public welfare is reflected in the fact that the establishment of state-owned enterprises is usually to achieve the goal of national economic regulation and play a role in coordinating the development of all aspects of the national economy.

legal ground

Article 120 of the Company Law of People's Republic of China (PRC): A listed company as mentioned in this Law refers to a joint stock limited company whose shares are listed and traded on a stock exchange.

Article 6 of the Company Law of People's Republic of China (PRC) shall apply to the company registration authority for registration of establishment according to law. Those that meet the conditions for establishment as stipulated in this Law shall be registered as limited liability companies or joint stock limited companies respectively by the company registration authority; Those who do not meet the conditions for establishment as stipulated in this Law shall not be registered as a limited liability company or a joint stock limited company. Where laws and administrative regulations stipulate that the establishment of a company must be approved, the approval procedures shall be handled according to law before the company is registered. The public may apply to the company registration authority to inquire about the registered items of the company, and the company registration authority shall provide inquiry services.