The theoretical understanding and strategic measures of the functional value of State-owned enterprises in the new era

Abstract

The current global economic practice can tell us that national competition is the underlying structure of global market competition, innovation is the core factor to create the competitive power of dominant enterprises in the global market and dominates the global income distribution. However, when market competition will reshape the distribution pattern, the global market governance will fail. In this context, Chinese state-owned enterprises, due to their extensive layout and advantages, need to take greater responsibility in innovation and other aspects. To this end, we need to adhere to market-oriented reform, take core technological innovation as the key grasp, and fully follow the commercial orientation to give full play to the incentive compatibility role.