The Reforming Logic of State- owned Enterprise Corporate Governance: Proceeding from National Governance to Corporate Governance

The top-level design of national governance plays a leading role in reforming the corporate governance of state-owned enterprises (SOEs) at the micro level. Following the overall objectives of comprehensively deepening reforms, this paper argues that the objective of SOEs corporate governance reform at this stage should be to improve and develop the SOEs corporate governance system with Chinese characteristics and modernize SOEs corporate governance system and governance capacity. To achieve this ambitious objective, this paper considers the theory of SOEs corporate governance with Chinese characteristics, and then explores the concrete manifestation and implementation pathway to the modernization of SOEs corporate governance system and governance capacity. This paper thus enriches the theory of corporate governance and provides insights into the new -era SOEs corporate governance reform.