The Investment System Reform and the Investment Efficiency of the State-Owned Enterprise: Changes and Prospects

In order to discuss whether the investment system reform improve the investment efficiency of Chinese state-owned enterprise since reform and opening-up, considering the nature and function of state-owned enterprises, the this paper constructed the investment efficiency evaluation system of stat-owned enterprises, with data from China Investment Yearbook and China Statistical Yearbook, this paper analyzed the investment efficiency of Chinese state-owned enterprises since 1980, and got the following conclusions, in view of the overall situation, both the micro and macro investment efficiency of the state-owned enterprise improved in past 30 years, except for the early of 1990s. The origin and new of this paper was analyzing the investment efficiency from the aspect of investment system reform.