西部地区合资铁路重组及股权结构调整关键问题研究  

Research on Key Issues in Reorganization and Equity Structure Adjustment of Western Joint Ventures in Railways

作　　者：单明路 陈国泰 SHAN Minglu;CHEN Guotai(Planning and Statistics Department,China Railway Lanzhou Group Co.,Ltd.,Lanzhou 730000,Gansu,China)

机构地区：[1]中国铁路兰州局集团有限公司计划统计部,甘肃兰州730000

出　　处：《铁道运输与经济》2022年第4期66-71,共6页Railway Transport and Economy

基　　金：甘肃省科技计划(技术创新引导计划)项目(20CX9ZA011)。

摘　　要：基于铁路高质量可持续发展要求和推进合资铁路重组整合重要任务,针对西部地区合资铁路公司在经营效益、股权结构、地方政府财政支付等方面的特殊性,以“创新、协调、绿色、开放、共享”五大发展理念为指引,紧扣国铁集团“干支分离”和“1省1公司”目标,以甘肃省域内合资铁路公司为例,运用经济学社会经济资源配置理论,着重从经营状况、股权结构、重组后省域公司可持续发展及次生风险等方面,剖析西部合资铁路重组整合及股权结构调整关键问题及产生缘由,提出动态调整重组范围及股权结构、引入土地“实物”优质资产和专项纾困基金等“外部”股权调节变量等建议,为推进西部合资铁路重组进程及高质量可持续发展提供借鉴。This paper is based on the requirements of high-quality and sustainable development of railways and the important task of promoting the reorganization and integration of joint ventures in railways.The particularities of joint ventures in railways in the western region of China are considered from aspects such as the operating efficiency,equity structure,and financial payment of local governments.Under the guidance of the five major development concepts of“innovation-driven development,coordinated development,green development,open development,and shared development”,we closely focused on the goals of“trunk-branch separation”and“one province,one company”of China State Railway Group.Taking the provincial joint ventures of Gansu in railways as examples,this study used the theories of socio-economic resource allocation in economics to analyze the key issues of and the reasons for the reorganization and integration as well as the equity structure adjustment of joint ventures in railways in west China,especially from aspects including the operating conditions,entity structure,sustainable development of provincial companies after reorganization,and related secondary risks.Additionally,suggestions were put forward,such as the dynamic adjustment of the scope of reorganization and the entity structure and the introduction of“external”equity adjustment variables including high-quality“physical”assets of land and special bail-out funds.In this way,this research can provide references for the reorganization of the joint ventures in railways and the high-quality and sustainable development in the western region of China.

关 键 词：合资铁路 西部地区 重组整合 股权结构 关键问题 

分 类 号：F530.7[经济管理—产业经济]