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The Cultivation of World-Class Multinational Corporations: A Major Target during the New-Round of Reform of SOEs(No.62, 2016)


By Yuan Dongming, Member of the Research Team on "The Development Trend of China’s Opening-up Strategy after Its Economy Becomes Remarkably Strong”, DRC

Research Report No.62, 2016 (Total 4945) 2016-5-18

Abstract: Accelerating the construction of a number of large state-owned enterprises (SOEs) to become the world-class multinational corporations is determined by the fact that China’s multinational corporations play a dominant role in large state-owned enterprises and the growth of national economy is closely linked with the development, functions and missions of large state-owned enterprises. Cultivating the key state-owned enterprises with international competitiveness is to cultivate world-class multinational corporations, which boast the ability to integrate the global resources and guide and drive the growth of domestic industry, with a leading position in international industrial competition. It is not enough to promote the development of large state-owned enterprises to become world-class multinational corporations just by improving the environment and creating relevant conditions. The SOEs’ reform should be led by the goal of cultivating world-class multinational corporations, and efforts should focus on the completely marketization of commercial state-owned enterprises, making them become the principal players in global markets with commercialized targets, diversified equity and legalized governance.

Key words: state-owned enterprises reform, multinational corporation, world-class