A few days ago, the State-owned Assets Supervision and Administration Commission held a meeting of enterprise leaders to emphasize that it is necessary to focus on enhancing core functions and improving core competitiveness, and deeply implement the deepening and upgrading of the reform of state-owned enterprises. Competitiveness is the ability of enterprises to create and realize value in competition, and corporate governance provides internal support for this ability.
The competitiveness of an enterprise lies in the effective integration of internal and external resources, the establishment of its own advantages in the fierce market competition, and the ability to obtain long-term survival and sustainable development. It is dynamic and behaves differently at different stages of development. The essence of corporate governance is to coordinate the interests between the company and stakeholders through a set of formal or informal, internal and external mechanisms, so as to ensure the scientific decision-making of the company, and then realize the growth of corporate value. The research shows that different governance structures affect the accumulation, improvement and effective utilization of key resources by influencing the enthusiasm of the owners of key resources, and ultimately enhance the competitiveness of enterprises. It is the core competitiveness at different stages that promotes enterprises to overcome difficulties and challenges one after another, stand out in the fierce market competition, and continuously improve the value of their products and services.
As an important pillar of the national economy, the core competitiveness of state-owned enterprises follows the general connotation of the core competitiveness of enterprises. It should help SOEs enter different markets, including domestic and international markets; It will help state-owned enterprises to form a mature enterprise system and long-term corporate culture and value orientation, and become the basis for their ability to expand their operations; It should also be difficult to be copied and imitated by competitors, which requires state-owned enterprises to have the ability to continue to innovate.
In view of this, to improve the core competitiveness of state-owned enterprises by improving corporate governance, it is necessary to improve the corporate governance structure, adhere to the management specialization and financial bottom line, establish a competitive incentive mechanism, and pay attention to improving the three-dimensional supervision and restraint mechanism. If an enterprise can form a balanced and orderly governance structure, and implement stable corporate governance and stable expectations based on this structure, such as formulating stable financial policies, following the operating principles of professional division of labor, avoiding blind expansion and excessive diversification, etc., and at the same time, enterprise managers are conscientious and strive for excellence to serve the development of the enterprise, their core competitiveness will naturally be enhanced. (Author: Huang Hua **Economy**).