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"New-quality Productivity and High-level Science & Technology Self-Reliance" Column

Modern New State-owned Enterprises for Accelerating Newquality Productivity：Connotation, Traits, Functional Goal and Building Paths 

Li Zheng1 , Zhou Xizhen2 , Yin Ximing3 

(1.School of Economics, Liaoning University, Shenyang 110136, China; 2.Xiangjiang Research Institute, Chang‐ sha 410018, China; 3.School of Management and Economics, Beijing Institute of Technology, Beijing 100081, China)

Abstract: The key to promoting the deepening and upgrading of the new round of state-ownedenterprises (SOEs) reform is to focus on improving the core competitiveness and enhancing core functions of SOEs, making more significant efforts to build modern new SOEs, strengthening the indigenous innovation capabilities and industrial leading capabilities of SOEs, and accelerating the formation and development of new quality productivity. This study critically reviews the con‐ notation and evolution from new SOEs to modern new SOEs, then obtains text data about new SOEs in the past ten years from the official website of SASAC and other public platforms about SOEs through big data and text-based machine learning technology, analyzes the characteris‐ tics of new SOEs by using the word frequency analysis method, and presents the characteristics of new SOEs visually, and finally summarizes and refines the core functions and objectives of new SOEs with the following research conclusions are as follows: First, the six keywords of the new SOEs are: "scientific and technological innovation" "sys‐ tem construction" "operation mechanism" "industrial layout" "state-owned enterprises" "stateowned enterprises" and "state-owned enterprises". This indicates that the new SOEs are based on the principle of "scientific and technological innovation" "system construction" "operation mechanism" "industrial layout" "governance of SOEs" and "open development". This shows that the new SOEs are driven by innovation, integrate institutional innovation into all aspects of corporate governance, have market-oriented business mechanisms, and have good strategic management capabilities. The industrial layout of the new SOEs is biased towards essential in‐ dustries and critical fields related to national security and the lifelines of the national economy, as well as the fields of safeguarding people's livelihood, serving society, and providing public products and services, focusing on strategic emerging industries and key core technology "choke point" fields, and giving full play to the organizational dynamism of other types of enter‐ prises, with the effect of innovation and platform agglomeration, as well as being oriented to‐ wards "innovation. " The new SOEs are focused on strategic emerging industries and key core technology "necklace" areas, can exert organizational mobility on other types of enterprises, have innovation platform agglomeration effect, and are "internationalized" innovative enter‐ prises facing the world. Second, the new SOEs have shown new ways of development, enterprise systems, operation mechanisms, and layout structure: they have perfected the modern enterprise system with Chi‐ nese characteristics, with further clarification of property rights, responsibilities and rights, more scientific management, and more standardized corporate governance; they have gradually established a market-oriented operation mechanism, and they have more equal access to and use of factors of production and participate in the market competition on a fairer basis with en‐ terprises of other ownership systems; they have a strategic supporting role in national and re‐ gional development; and they are also international and innovative enterprises facing the world. They should also provide strategic support for national and regional development, increasing the ability to fulfill social responsibility and further optimization of layout and structure, signifi‐ cantly enhancing scientific and technological innovation capability, and giving full play to their role as the leading force in promoting green and low-carbon development. Third, combined with the development goal of Chinese-style modernization, new SOEs'core functions and goals should be based on classified reform, assessment, and supervision. New SOEs in the commercial category Ⅰ have economic and innovative functions; new SOEs in the commercial category Ⅱ have strategic security functions, industry-leading functions, and in‐ novative functions; new SOEs in the public welfare category have social functions, and all types of new SOEs should have green functions. The study believes that building a modern new state-owned enterprise is a higher standard and requirement for reforming state-owned enterprises based on the theory and practice of new state-owned enterprise construction since the reform and opening up. It is an inevitable choice for building a modern industrial system and achieving high-quality development. Modern new state-owned enterprises are new types of state-owned enterprises that are different from tradi‐ tional state-owned enterprises. They are new production relations and modern advanced organi‐ zations compatible with new productive forces. Its characteristic is that it can not only be organi‐ cally integrated with the socialist market economy and become a qualified market subject and a vibrant, innovative subject but also work with other ownership enterprises to build a modern in‐ dustrial system and cultivate mutual benefits through fair competition and in-depth coopera‐ tion. New quality productivity supports and leads Chinese-style modernization and high-quality development. 

Key words: traditional state-owned enterprises; new state-owned enterprises; modern new state-owned enterprises; Chinese-style modernization; new-quality productivity