The Policy Succession and Practical Effect of State-owned Capital Management Budget——Based on the Analysis of PVAR Model about the Central Enterprises

Chinese central government proposed the establishment of state - owned assets management budget in 1993,but it didn't implement the work until the publishment of the pilot of state - owned capital management budget in September 2007.Why the establishment of the state - owned capital operating budget system has been for more than a decade? It requires exploring from a historical perspective.In addition,the State - owned budget revenue has been received for seven years,does it meet the purpose of improving the operating performance of SOEs by suppressing the over - investment of SOEs? The article uses the data about the profits of the central enterprises,state - owned budget revenues and other related data to check the practical effect of the state - owned capital management based on vector autoregression,and provides an empirical basis for the improvement of the state - owned capital management budget system.