冯琳

[摘 要] 十八届三中全会之后，国家提出“以管资本为主加强国有资产监管，改革国有资本授权经营体制”，河南省在此政策导向下对国有资本授权经营体制也进行了初步研究和路径探索。其中有部分观点提出分行业设立两类公司的初步构想，这一构想目前还未形成任何政策性文件，只限于讨论商榷层面。本文针对这一思路，提出不同观点，认为分行业设立两类公司不利于发挥国有资本的集中优势和开放式经营，以及合理组合规避风险。同时，提出了在市场化改革方向中，拟构建的国有资本授权经营体制下，国资监管部门、两类公司与国有企业该如何重新定位的思考。

[关键词] 授权经营;国有资本;国有企业;监管

[中图分类号] F123.7     [文献标识码] A   文章编号：1671-0037（2015）07-11-4

Research ontheReform of State-owned Capital Authorization Management Systemin HenanProvince

——Practical Exploration and Problem Research onForming Two Kinds ofCompanies

Feng Lin

（ Henan Provincial Government State-owned Assets supervision and Administration Commission， Zhengzhou Henan 450000）

Abstract：After the Third Plenary Session of the eighth Central Committee of the Communist Party of China， the state proposed " strengthen the state-owned assets supervisionand administrationfocusing on regulatory capital， and reform thestate-owned capital authorized management system"， Henan Province，under the guidance of this policy，has also carried on the preliminary research and path exploration onthe state-owned capital authorized management system.Some of them put forward the preliminary idea of establishing two kinds of companies in theindustry. This idea has not yet formed any policy document， which is restricted to the discussion. In this paper， we put forward different views，believing that the establishment of two types of companies in the industry is not conducive to perform the integratedadvantage and open operationof state-owned capital， as well as risk aversionvia reasonable combination. At the same time， this paper puts forward the thinking of how to reposition the state-owned assets supervision department， the two kinds of companies and state-owned enterprisesunder the market oriented reform directionand the state-owned capital authorized management system.

Keywords：authorized management， state-owned capital， state-owned enterprise， supervision

十八大三中全會之后，明显感觉到本届政府坚定而渐进的市场化改革方向愈加突显，全面深化改革的步伐正在稳步推进。国有资本授权经营体制改革是全面深化改革的一项重要举措，也是一直以来备受关注的研究对象。而组建或改组成立国有独资的国有资本投资公司和运营公司，是本轮改革的一大新政策和亮点。河南省在制订两类公司的组建方式、管理模式等方面进行了初步研究与探索，拟选择个别企业先行先试，逐步推进。

1 两类公司的初步认识

按照一般的解释，两类公司是国家授权经营国有资本的公司制企业;其经营模式是以投资融资和项目建设为主，通过投资实业拥有股权，通过资产经营和管理实现国有资本保值增值，履行出资人监管职责。……