中国试验国企改革新模式.

　　中国东部大省山东已将三家国有企业的部分股权划转至省社保基金，此举被视为对效率低下的国有部门进行全国范围改革的新模式。详细请看下面的双语信息：

　　Shandong transferred 30 per cent stakes in Shandong Energy Group, Shandong Airport Ltd and Shandong Salt worth a combined Rmb3.3bn ($532m) to the social security fund. The provincial government has said it eventually plans similar stake transfers for all 471 of the companies it controls.该省将山东能源集团(Shandong Energy Group)、山东机场有限公司(Shandong Airport Ltd)以及山东盐业集团(Shandong Salt)三家国企30%的股权——总价值33亿元人民币(合5.32亿美元)——划转到了省社保基金。省政府表示，最终将计划对所有471家省属国企进行类似的股权划拨。

　　The architect of the plan, Guo Shuqing, served as head of China’s securities regulator bore taking over as governor of Shandong province, China's second largest by population, in 2013. Mr Guo, a former chairman of China Construction Bank, is considered a leading candidate to succeed Zhou Xiaochuan as China’s central bank governor.这一计划的设计者是曾担任中国证券监管机构负责人、后于2013年出任山东省(中国第二人口大省)省长的郭树清。曾担任中国建设银行(CCB)董事长的郭树清，被认为是最有希望接替周小川出任中国央行行长的人选。

　　Mr Guo has long advocated transferring stakes in state groups away from the State-owned Assets Supervision and Administration Commission (Sasac), which has been criticised for interfering in SOE management in order to advance political and policy goals.郭树清长期以来一直主张将国有集团的部分股权从国资委(SASAC)剥离出来，这一倡议曾被批评为干涉国企管理，为的是推进自己的政治和政策目标。

　　The equity transfers will help shore up social security funds, which are facing huge future shortfalls because of China’s ageing population.这类股权划转将有助于充实社保基金。由于人口老龄化，中国的社保基金未来面临巨大缺口。

　　At the same time, analysts say equity transfers can help raise ficiency in the state sector, where companies’ returns on assets trail far behind their privately owned counterparts. Social security funds, which focus narrowly on maximising financial returns, are considered more likely to prioritise ficiency over political correctness.与此同时，分析师称，股权划转能有助于提高国有部门的效率，国企的资产回报率远远低于民营企业。而仅仅关注财务回报最大化的社保基金，被认为更有可能将效率排在政治正确之前。

　　“The social security fund will influence these enterprises’ governance structure and operations. It’s still a state shareholder but they have their own interests and their own voting rights to advance those interests,” said Ju Jinwen, a researcher focused on state-owned enterprise rorm at the Institute of Economics at the Chinese Academy of Social Sciences, a think-tank that advises the government.中国社会科学院(CASS)经济研究所致力于研究国企改革的研究员剧锦文说：“社保基金将会影响这些企业的治理结构和运营。虽仍是国有股东，但它们有自身的利益，而且拥有推进这些利益的投票权。”

　　“Shandong will be used as a pilot. If it is successful, we could see the same thing around the country.”“山东将作为一个试点。如果成功了，这种模式可能被推广至全国。”

　　Top Communist party leaders originally proposed injecting state-owned assets into social security funds in 2004 but the transfers announced by Shandong late on Monday mark the first implementation. Analysts say Sasac has resisted relinquishing its authority over SOEs.中共高层最初在2004年就提出将国有资产注入社保基金，而周一下午山东宣布的划转举措才标志着这一建议的首次贯彻执行。分析师称，国资委一直抵制让渡自己对国企的控制权。

　　A landmark economic rorm blueprint that China’s top leaders endorsed in November 2013 pledged to raise ficiency at state groups while maintaining their role as the backbone of the economy. Local media has said an elite policy making body created to implement the blueprint will release a detailed plan for SOE rorm later in the year.中国高层领导人2013年11月批准的具有里程碑意义的经济改革蓝图中承诺，要提高国有集团的效率，同时保持其作为经济支柱的地位。地方媒体曾报道，中央为贯彻这一蓝图成立的精英政策制定机构将在今年晚些时候公布一项详细的国企改革计划。

　　Analysts expect that incremental rorms aimed at improving corporate governance will comprise the bulk of the plan. Stock market listings and minority stake sales will also play a role but full-scale privatisation is likely to be used sparingly.分析师预计，旨在改善公司治理的渐进式改革将构成这一计划的主要部分。挂牌上市以及出售少数股权也将发挥一定作用，而全面私有化可能会被用得很少。