Recently, Yao Yang, President of Peking University Development Institute, made a speech at the Yabuli China Entrepreneurs Forum, which attracted widespread attention and discussion. He pointed out some of the efficiency and competition problems existing in state-owned enterprises at present, especially the phenomenon of "second-way traffickers", that is, the behavior of state-owned enterprises that do not directly implement projects after they are obtained, but subcontract them to private enterprises and charge handling fees, revealing a major drawback in the operation of state-owned enterprises.
This behavior not only reduces the overall economic efficiency, but also may inhibit the innovation and development momentum of private enterprises. The existence of state-owned enterprises as "second-hand dealers" has increased the intermediate links, resulting in a decrease in the efficiency of resource allocation. In this process, SOEs do not substantively participate in the implementation and management of the project, but acquire the project through administrative means or other non-market mechanisms, and then transfer it to private enterprises. This practice not only increases transaction costs, but can also lead to damage to the efficiency and quality of project implementation, because the profits obtained by the real executors (private enterprises) in the project are compressed, which may affect the motivation of their investment and the quality of resources. This model has adversely affected the development of private enterprises. Private enterprises may face unfair treatment in competition with SOEs, as they need to pay additional fees to SOEs for project opportunities. This not only reduces the profit margins of private enterprises, but also may hinder their expansion and the pace of technological innovation. In the long run, this unequal playing field could undermine the innovation and competitiveness of the economy as a whole.
So, how did this phenomenon come about? In my opinion, there are mainly the following reasons:
First, the structure and system of state-owned enterprises. State-owned enterprises, as the first people, enjoy some special rights and preferences, such as financing, land, taxation and other support. This support gives SOEs an advantage in the market, but it can also lead to inefficiency, inertia, and little innovation on the part of SOEs. Operators of state-owned enterprises often lack sufficient incentive and restraint mechanisms, and pay more attention to their own interests and safety than to the long-term development and social responsibility of the enterprise. The regulatory and accountability mechanisms of SOEs are also inadequate, resulting in low transparency and credibility of SOEs, and are prone to corruption and abuse of power.
Second, the issue of intervention and protection. Excessive intervention and protection of state-owned enterprises (SOEs) have been carried out in some fields and industries, such as procurement, infrastructure construction, strategic industries, etc. ** Provide a large number of project opportunities to SOEs through administrative means or other non-market mechanisms, rather than through open, fair and just competition. This practice not only undermines the freedom and efficiency of the market, but also deprives private enterprises of the opportunity to compete fairly. **Overprotection of SOEs can also lead to complacency and dependence on SOEs, lack of pressure and motivation for competition, and thus affect the reform and innovation of SOEs.
Third, the problems of private enterprises themselves. Although private enterprises have played an important role in China's economy, they are also facing some difficulties and challenges, such as financing difficulties, imperfect systems, lack of talents, and backward technology. These problems put private enterprises at a disadvantage in competition with state-owned enterprises, and it is difficult to gain more market share and profit margins. Private enterprises also lack sufficient participation and voice in some fields and industries, and it is difficult to influence and change the formulation and implementation of policies and systems. The development of private enterprises has also been affected by some external unfavorable factors, such as international friction, environmental pollution, social instability, etc.
To sum up, is the phenomenon of "second-way traffickers" in state-owned enterprises a cancer of the state-owned economy or an opportunity for the private economy? In my opinion, this is a double-edged sword, there is both a crisis and an opportunity. For state-owned enterprises, this is a crisis, because it exposes some deep-seated problems of state-owned enterprises, and also damages the image and credibility of state-owned enterprises. If SOEs do not carry out in-depth reforms, improve efficiency and competitiveness, and fulfill their roles of social responsibility and public interest, then they will face greater risks and challenges, and may even be eliminated and replaced. For private enterprises, this is an opportunity, because it provides space for private enterprises to participate and develop, and also stimulates the innovation and enterprising spirit of private enterprises. If private enterprises can seize this opportunity, constantly improve their own strength and level, constantly expand their own fields and scope, and constantly strive for their own rights and status, then they will have greater potential and prospects, and may even become partners and promoters of the state-owned economy.
Therefore, I believe that the phenomenon of "second-way traffickers" in state-owned enterprises should not be regarded as a normal state and a matter of course, but should be regarded as a warning and opportunity. We should see the problems and opportunities of the state-owned economy and the private economy, so as to take effective measures to promote the reform and development of the state-owned economy and the private economy, realize the complementarity and coordination of the state-owned economy and the private economy, and provide strong impetus and support for building a new development pattern and achieving high-quality development.