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The Fourth Great Minds China Forum: The Theory of the Firm and SOE Reform in China

 

General Secretary Xi Jinping emphasized in the 19th CPC National Congress to “deepen the reform of state-owned enterprises, develop a mixed-ownership economy, and cultivate world-class companies that are globally competitive.” It is necessary to speed up the establishment of an effective and balanced corporate governance structure, and a flexible and efficient market-based operating mechanism. In addition, property rights and operating autonomy of enterprise legal persons shall be implemented in accordance with the law.

 

National Economics Foundation, together with Renmin University, holds the Fourth Great Minds China Forum, themed by The Theory of the Firm and SOE Reform in China to explore modern enterprise theories, harness and promote the institutional construction of modern state-owned enterprise in China. It is hoped that ideas generated in this forum will have a profound impact on deepening the reform of state-owned enterprises in China and fostering world-class companies with global competitiveness.

 

[Host] National Economics Foundation & National Academy of Development and Strategy, Renmin University of China

 

[Time] May 12, 2018 (Saturday)   13:30 Registration   14:00-17:00

 

[Location] No.1 Lecture Hall, Yifu Conference Center, Renmin University of China

 

[Contacts] NEF: Hao Juan 18519167566

National Academy of Development and Strategy of RUC: Mr. Zhang 13161991811

 

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[Roundtable Forum Topics]

 

Topic 1. Enterprise Property Right Theory and Mergers and Acquisitions

What kind of companies should be merged? How to view the merger and acquisition of Chinese state-owned enterprises from the theory of property? Where are optimal boundaries of state-owned enterprises?

 

Topic 2. Residual Rights of Control and Property Rights Reform of State-owned Enterprises

How to match company’s control rights and income rights? How to prevent managers who have control rights from stealing corporates’ income? How to better deal with the issue of incentives for managers of state-owned enterprises in China?

 

Topic 3. The Optimal Bankruptcy Procedures and Debt-for-equity Swap

How to solve the free-rider problems that may exist among creditors in the bankruptcy of a company and the waste of the value of corporate assets? How do you view the two rounds of debt-for-equity swap of state-owned enterprises?

※ (Including but not limited to above topics) ※

 


[Introduction to speakers] (in accordance with speaking order)

 

Xia Bin:

Counselor of the State Council, director of National Economics Foundation, honorary head of the Research Institute of Finance, Development Research Center of the State Council, chairman of China Chief Economist Forum, and member of Chinese Economists 50 Forum.

 

Liu Yuanchun:

Associate Dean of the School of Economics, director of the Department of International Economics, and joint director of the Economic Research Institute in Renmin University of China, associate dean of the China Institute for Reform and Development, review expert of the Ministry of Education for Returned Overseas Students’ Scientific Research Start-up Fund, and review expert of National Social Science Foundation of China.

   

Oliver Hart:

Oliver Hart is currently the Andrew E. Furer Professor of Economics at Harvard University. Hart works mainly on contract theory, the theory of the firm, corporate finance, and law and economics. He is the 2016 co-recipient of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

 

 

Chen Qingtai:

Former party secretary and deputy director of the Development Research Center of the State Council. Member of the CPPCC Standing Committee, vice director of the Economic Affairs Committee. Senior engineer, research fellow. Mainly engaged in macroeconomics and industrial economy.

 

Xu Chenggang:

Professor of Economics at the CKGSB, Council member of The Ronald Coase Institute, 2016 China Economics Prize Winner, Doctor of Economics from Havard University, Previously worked in HongKong University, LSE as a professor,  special-term visiting professor at Tsinghua University

 

Li Wei'an:

Former president of Tianjin University of Finance and Economics, professor of economics. He once served as the dean of Business School of Nankai University, director of Modern Management Institute, director of MBA Center of Nankai University, Director of Center for Studies of Corporate Governance of Nankai University, and editor-in-chief of Nankai Business Review.

 

Huang Qunhui:

Director, research fellow, doctoral supervisor of Institute of Industrial Economics, Chinese Academy of Social Sciences, executive vice chairman of the Chinese Institute of Business Administration, and deputy director of the Management Science Research Center of the Chinese Academy of Social Sciences.

 

Fu Chengyu:

Senior Economist, former president and board director of CNOOC, Party Secretary and board director of Sinopec. Man of the Year for China Economy by CCTV in 2005. Director of UN Global Compact .