Urban public utilities include urban water supply, heating, gas supply, communication, public transportation, drainage, sewage treatment, roads and bridges, municipal facilities, city appearance and environmental sanitation, garbage disposal and urban greening. For a long time, the basic modes of public utilities operation in China are government investment construction, financial subsidy operation and monopoly operation of state-owned enterprises. Due to the lack of competition mechanism, this business model leads to a series of drawbacks in the field of public utilities, such as bloated institutions, low efficiency, serious losses, and indifferent service awareness. In recent years, the market-oriented reform of public utilities has been carried out nationwide. Its main content and basic trend are: (1) privatization, that is, the transformation from monopoly operation of state-owned enterprises to privatization, which is the most basic content of the marketization of public utilities at present; (2) Diversification of investment subjects, that is, from single government financial investment to absorbing private capital and foreign capital; (3) competition, that is, from natural monopoly to competition; (4) Operation, that is, on the basis of public welfare, expand to operation and gradually change from business to industry.
Any reform has a certain cost. For private enterprises, there are certain risks in participating in public utilities, such as whether the government keeps its promise and whether the investment can return. These risks will undoubtedly affect private interests. An important question that the management subject of public utilities needs to consider is whether there are some public risks that harm the interests of public utilities. We believe that although the marketization of public utilities is an international trend, the basic reason for the existence of public utilities is precisely based on the non-exclusive and non-competitive characteristics of public goods consumption. "These characteristics imply the dilemma faced by the market price mechanism." In other words, public utilities belong to the field of "market failure" where the market mechanism can't play its role or play its role poorly. Therefore, there is bound to be a contradiction between the logic of marketization of public utilities and the "public" nature of public utilities. This contradiction makes the marketization of public utilities inevitably have some public risks that may harm the public interest. Based on the importance of public utilities in social and economic life, the consequences of these potential public risks may be very serious. Therefore, how to prevent and control these risks is a theoretical problem with important practical value in the process of correctly promoting the market-oriented reform of public utilities in China.
Second, dynamic analysis: the direction and mode of privatization of public utilities
In China's current laws and regulations, there are different definitions of public utilities and their scope. For example, the public utilities mentioned in the Provisions on Prohibiting Public Enterprises from Restricting Competition published by the State Administration for Industry and Commerce 1993 include "water supply, power supply, heat supply, gas supply, postal services, telecommunications, transportation" and other industries. In the Opinions on Accelerating the Marketization of Municipal Public Utilities issued by the Ministry of Construction in 2002, "municipal public utilities" are defined as "operating municipal public utilities such as water supply, gas supply, heat supply, public transportation, sewage treatment and garbage disposal" and "non-operating facilities such as landscaping and environmental sanitation". In the Administrative Measures for Franchising Municipal Public Utilities promulgated by the Ministry of Construction in 2004, public utilities include "urban water supply, gas supply, heating, public transportation, sewage treatment and garbage disposal" and other industries. On February 24th, 2005, Xinhua News Agency was authorized to broadcast the full text of "Several Opinions of the State Council on Encouraging, Supporting and Guiding the Development of Non-public Economy, such as Individual and Private Economy". It is clearly pointed out that it is necessary to "speed up the improvement of the government franchise system, standardize the bidding behavior, and support non-public capital to actively participate in the investment, construction and operation of municipal public utilities and infrastructure such as urban water supply, gas supply, heating, public transportation, sewage and garbage disposal."
At present, it is generally believed that China's public utilities include: water supply, heat supply, gas supply, urban public transport, drainage, sewage, garbage disposal, landscaping, environmental sanitation and other municipal public utilities; Infrastructure such as roads and bridges; Telecommunications, power supply, postal services, railways, highways, waterways and civil aviation transportation industries.
Since the concept of privatization was put forward and the reform was explored in the 1970s, a great deal of research has been done on the specific forms of privatization at home and abroad. Sabas, a foreign scholar who is known as the "privatization master", divides privatization methods into three categories: 1, entrustment and authorization-sometimes called partial privatization, which requires the government to continuously and actively intervene, because the state still bears all responsibilities and only entrusts the actual production activities to the private sector. Entrusted authorization is realized through contract, franchise, subsidy (subsidy or voucher) and legal authorization. 2, divestment-this means giving up a business, a function or an asset. Like authorization, divestment requires direct and clear action by the government. Unlike entrustment, divestment is generally a one-time job. An enterprise can be sold or given to others as a going concern entity, or it can take the form of liquidation, that is, closing and selling the remaining assets. 3. The government fades out-unlike entrusting and divesting, which requires the government to act actively, fading out is a negative and indirect process, that is, the government is gradually replaced by the private sector. In his book "Partnership between Privatization and Public-Private Cooperation", he described in detail three types and nine privatization modes of providing urban infrastructure, which provided reference for the privatization of public utilities in China.
In recent years, China has adopted the following six forms of privatization of public utilities:
1, BOT mode (short for Build-Operate-Transfer). The way investors build and monopolize the final transfer to the government for a certain period of time. For example, Shanghai Zhuyuan No.1 Sewage Treatment Plant is the largest project in China, invested and built by a private capital-based investment consortium in the form of BOT, with a franchise for 20 years; Beijing Xiaojiahe Sewage Treatment Plant; Nanhai environmental protection power plant, BOT financing, incineration of garbage to generate electricity.
2. Joint venture mode. For example, at 200 1, Fatu Showa Water Supply Company cooperated with the Third Waterworks of Fengxian Water Supply Company to establish the first Sino-foreign cooperative Showa Water Supply Company in Shanghai; Joint venture Xinao Gas Company; In 2003, Weishui Investment Co., Ltd. cooperated with Shenzhen Investment Management Company, and French General Water Company invested 2.94 billion yuan in Shenzhen Water (Group) Co., Ltd. according to the signed joint venture contract, and owned 40% of its shares. The joint venture model has the following advantages: first, the government can finance social funds and reduce the financial pressure of the government; The second is to break the original monopoly system; Third, the involvement of private enterprises can improve efficiency and reduce costs.
3. Direct mergers and acquisitions. Direct purchase is not a typical privatization method. Such as: 1997 Tianjin Zhuang Ling Waterworks jointly built by Vivendi and Tianjin. In May 2002, 50% of the state-owned equity premium of Shanghai Pudong Water Supply Company was transferred to Vivendi. Vivendi promised not to lay off 65,438+0,582 employees of the joint venture company, with cash of 2 billion yuan, nearly three times higher than the asset appraisal value, and guaranteed to provide high-quality tap water superior to the existing standards and maintain the conditions of unified pricing by the government.
4. Pure private mode. That is, it is exclusively invested and built by private capital. In September 2002, Guangzhou Yatai Domestic Waste Co., Ltd., which was exclusively invested by Hong Kong Yatai Environmental Protection Co., Ltd., signed a cooperation agreement with Guangzhou City Appearance and Environmental Health Bureau. According to the agreement, Hong Kong Asia Pacific Environmental Protection Co., Ltd. will invest about 280 million yuan to build a garbage treatment plant in Guangzhou in 2004, with a daily comprehensive treatment capacity of 1 10,000 tons of domestic garbage. As a result, it officially opened the prelude for foreign capital to enter the garbage industry in China.
5.Tot (short for transmission-operator-transmission) mode. Government housing investment projects will be handed over to non-government investors for operation in a certain period of time, and the funds recovered by the government can be used for the construction of new projects, and finally they will have the ownership of the projects. For example, in 2004, Anhui Guozhen Environmental Protection and Energy Conservation Co., Ltd. invested 65.438+0.6 billion yuan to purchase the management right of Xuzhou Sewage Treatment Plant, the first urban sewage treatment plant in Huaihe River Basin, for 30 years by TOT.
6.PPP (abbreviation of public-private partnership) model. In order to make up for the shortage of BOT mode, a new financing mode has emerged in recent years, namely the cooperation mode between government departments and private enterprises. This model means "public-private partnership" and was first applied to 1992 in Britain. Mainly to complete the construction of some public facilities, public transportation and related service projects, public institutions and private institutions sign contracts, clarify the rights and obligations of both parties, reach a partnership, and ensure the smooth completion of these projects. This is a new form of international cooperation between the government and the private sector in the construction of urban infrastructure, which is called a joint state-private management company. For example, in 2004- 12, Hong Kong Metro Company, Beijing Infrastructure Investment Co., Ltd. and Beijing Capital Venture Group Co., Ltd. signed an investment principle agreement and decided to jointly invest, build and operate Beijing Metro Line 4 in PPP mode.
7.management buyout) mode, that is, management buyout, mainly refers to an act of the company's managers using the funds raised by loans or equity transactions to acquire the company. Through acquisition, the operator of the enterprise becomes the owner of the enterprise. Because MBO has played an active role in motivating internal employees, reducing agency costs and improving business conditions, it became a popular way of enterprise acquisition in Europe and America in the 1970s and 1980s. For enterprises in China, the greatest charm of MBO lies in its ability to sort out enterprise property rights, realize owners' returns and establish a long-term incentive mechanism, which is the most distinctive feature of MBO in China. Some experts in China designated 2003 as the year of MBO. At present, listed companies in China, such as Yutong Bus, Yuemei, Shenzhen Fangda, Fosu Co., Ltd., have tried MBO scheme. Recently it has been questioned by economists.
At the same time, with the process of privatization reform, we should also reflect calmly and learn from the experience of previous reforms and the problems that appear at present. First of all, the government should reasonably define the boundaries of privatization of public services. Some public services, such as public safety, basic education, medical and health care, should not be "privatized"; For some charged goods and services, such as public transportation, telecommunications and other public utilities, privatization should be advocated so that the market competition mechanism can be fully reflected in these fields. Secondly, it is necessary to prevent the loss of state-owned assets and learn from the lessons of the loss of hundreds of millions of assets caused by the shareholding system reform of state-owned enterprises in the 1990s. Han Zhiguo divided the loss of assets into three categories, and thought that the main reason for the loss of state-owned assets was the lack of system. Finally, we should pay attention to the problems after the reform. Whether the efficiency, service and product quality are improved after the reform, whether the economic benefits are improved, and the problem of personnel placement in the original department brought about by the reform.
Thirdly, static analysis: the institutional conception of privatization reform of public utilities in China.
The key to the success of privatization reform of public utilities lies in fully introducing market competition. Its core approach is to introduce the power of market competition into the supply of public goods and services, break the traditional administrative monopoly and form a pattern of multi-competition, so as to provide public goods and services with high efficiency and high quality. The realization of all this depends on a sound and perfect system as a guarantee. The so-called system is a series of rules, law-abiding procedures and moral and ethical norms of behavior, aiming at restraining individual behaviors that pursue the maximization of subject welfare or utility interests. In order to establish and improve a fair and reasonable competition mechanism, efforts should be made in the following aspects:
1, fair and strict market access system
Under the market economy conditions of lack of competition and imperfect operation, privatization of public utilities may not necessarily induce the investment of enterprise capital and the improvement of operators' efforts. To successfully promote the privatization reform of public utilities, we must pay attention to opening market access conditions and introducing competition mechanism. Effectively attracting private capital and foreign capital to enter the public utility field fairly, especially for the unnatural monopoly business in the public utility field, eliminating the access obstacles of non-state-owned economy as soon as possible and vigorously introducing private capital market access are undoubtedly the first problems to be solved in the privatization of public utilities. At present, the common problem is not too wide but too narrow, which excludes most enterprises from competition. The so-called bidding, like the election in the western two-party system, also excludes the participation of the people. Therefore, many scholars demand to relax market access, relax market access of private enterprises and foreign-funded enterprises, and realize diversification of investment subjects. Let all kinds of competitors compete on a level playing field.
What I want to add here is that relaxing market access does not mean reducing the qualification examination and post-event supervision of shortlisted enterprises. In many enterprises, from the perspective of giving full play to the benefits and advantages of economies of scale and ensuring the stability of service quantity and quality, it is also reasonable for the government to allow one or several specific companies to enter a certain industry, restrict the entry of other enterprises, or prevent excessive competition. What is involved here is the qualification of a competitor, and it is also a problem to ensure the safe, stable and sustainable development of public utilities. Anyone who enters the competition is reporting the same purpose-profit. Therefore, according to the British philosopher and economist David. David hume's "rogue principle", private and foreign-funded enterprises can also be regarded as the same subject. The purpose of effective system design is to prevent and curb the "rogue" impulse that harms the public interest, conduct strict access review on the competitors entering, and formulate a scientific and reasonable market access system and open bidding system; The legitimacy of privatization of public utilities is questioned, rather than simply using administrative orders and arrangements.
At present, the entry of private capital and foreign capital into the field of public utilities is mostly regulated by various "opinions", "notices", "interim provisions" and local regulations of national ministries and commissions, which is not authoritative, stable and normative. In order to encourage private capital and foreign capital to enter the field of public utilities, protect their legitimate rights and interests, and overcome short-term behavior, we can consider imitating the Provisions on Guiding the Direction of Foreign Investment and the Catalogue of Industries with Foreign Investment, and in the form of administrative regulations, according to the natural monopoly of the project and the strength of public products, we can divide the entry fields of private capital into four categories: encouragement, permission, restriction and prohibition, and establish a catalogue of private investment in public utilities.
2. Establish a complete information disclosure system and public bidding system.
First, the information disclosure system. In the management and operation of public utilities, information closure is a common phenomenon. However, the privatization of public utilities requires timely disclosure and disclosure of relevant information. Otherwise, different competitors will be in the state of information asymmetry in the competition process, and enterprises with incomplete information acquisition will also be at a disadvantage in the competition, which is not conducive to the enthusiasm of enterprises to participate in public utilities, and ultimately affect the effect of privatization of public utilities. Fair competition is the core of privatization, so we should establish an information disclosure system to institutionalize and regularize information disclosure and create a fair information environment for privatization of public utilities.
Second. Public bidding system. In order to ensure fair and reasonable competition in the privatization of public utilities, it is also necessary to establish an open bidding system, so that qualified enterprises have the opportunity to participate in bidding, and ensure the openness and transparency of the whole bidding process, and reduce all kinds of unfair transactions, rent-seeking and corruption to a minimum with the power of the system. Therefore, the government should formulate a detailed and specific public bidding system for privatization of public utilities according to the Bidding Law of People's Republic of China (PRC), so as to ensure that the bidding activities in the process of privatization of public utilities have laws to follow and rules to follow.
3. Strengthen the government supervision function and improve the supervision mechanism.
Privatization of public utilities needs a sound supervision mechanism to coordinate the relationship between the government and enterprises and regulate their behavior, and the realization of public interests also depends on a sound supervision mechanism and a strong government. If the government's supervision function is absent in the process of privatization of public utilities, it will inevitably lead to various violations or even violations in the operation process, and the public interest will be forgotten by the privatized operators, and the government has an unshirkable responsibility for this. Of course, the government should also pay attention to safeguarding the interests of enterprises while safeguarding the public interests. If the scope of government supervision is not limited, the operation is not transparent enough, and there are too many micro-level interventions, private sector investors will flinch and turn to other better investment environments. Therefore, in order to improve the supervision mechanism and strengthen the supervision function of the government, the government should do the following: First, clarify the supervision function of the government. Clarifying the regulatory function of the government is a necessary prerequisite for fulfilling the regulatory function. The function of government supervision is defined as "what the government should and should not do". It is helpful to improve the efficiency of government management to draw a clear line with enterprises and make the government a powerful "limited government".
Second, strengthen contract supervision, supervise the quality, quantity and price level of services provided by contractors and stop profiteering.
Third, it is necessary to establish a system of accountability, that is, to require public sector administrators to be responsible not only for the process of their actions, but also for the results of their actions, so as to avoid the phenomenon of "evading responsibility". The implementation of this new responsibility mechanism directly links the responsibility of administrative personnel with the results of their actions, and ensures the performance of government supervision functions to the maximum extent.
Fourth, improve the quality of supervisors. The supervisor is the executor of the supervision function, and the quality of the supervisor is directly related to and affects the supervision effect. Therefore, various measures should be taken to improve the quality of supervisors, including: strengthening the training of supervisors; Establish a learning organization; Cultivate a good organizational culture; Pay attention to communication and interaction between supervisors.
Fifth, build an interactive mechanism composed of decision makers, providers and public service consumers. The key is to establish a good interactive structure among decision makers, providers and consumers of public services. Decision makers include governments at all levels, producers include public institutions, non-profit organizations and private enterprises, and consumers of public services are citizens. Among them, the benign interactive institutional structure is an important institutional condition for the government to effectively perform its regulatory functions and provide public services.
4. Constantly improve the current price mechanism.
The supervision of public utilities is mainly reflected in the supervision of their prices. The reform and development of public utilities are related to the national economy and people's livelihood and the vital interests of the general public, and the price itself is a very sensitive issue. Therefore, the government should establish and form a scientific and reasonable price mechanism in the process of privatization of public utilities, so as to effectively control the privatized price market, effectively safeguard the interests of the general public and private enterprises, and achieve a "win-win" within society. To this end, we should do a good job in the following aspects: first, establish the principle of charging with low profit and guaranteed capital. In addition to the characteristics of general industries, public utilities have a typical feature, that is, their public welfare. This feature determines that public enterprises after privatization must charge according to the principle of cost plus meager profit. Otherwise, public utilities will lose their public welfare, the result of privatization will harm the interests of the general public, and the government will deviate from its public role.
Second, formulate scientific and reasonable price standards. In order to ensure the scientific and reasonable price of public goods and services after privatization, scientific price standards must be formulated to provide reference standards for the pricing of public goods and services. The government should organize relevant experts, scholars, producers and consumers to formulate reasonable standards for tap water, gas, telecommunications, lighting, greening, drainage and other services, so as to facilitate the pricing according to the service quality provided by enterprises after privatization.
Third, actively introduce the price hearing system. The so-called price hearing system refers to that the competent pricing department of the government organizes relevant social parties to hold a hearing on the necessity and feasibility of setting prices before setting (including adjusting) important commodities or services set by the government. Price hearing system is the product of modern democratic development. The implementation of the price hearing system is an affirmation of consumers' right to participate and know, and provides institutional guarantee for standardizing price behavior, stabilizing market price level and protecting consumers' rights and interests. Therefore, in the process of privatization of public utilities, the price hearing system should be actively introduced to provide a mechanism and platform for consultation and dialogue among the public, enterprises and the government, so as to reach a price recognized by all parties.
Fourth, once a dispute occurs, it can be resolved through a special arbitration mechanism. In this regard, China is still in the exploratory stage. We can learn from foreign experience, so as to formulate an arbitration mechanism that is in line with China's national conditions. In the United States, it is a common method to set up a public utility price adjustment fund based on the principles of considering operators' income, social affordability, transparency, impact on overall social economic growth, reasons for price adjustment and openness of measures. The price control of public utilities in Britain is to control its price level, and the government adopts RPI-X model to control the price of public utilities according to law. The adjustment of price mainly depends on the inflation rate and the improvement of enterprise efficiency in a certain period.
5. Pay attention to cultivating and developing the third sector.
At the forum on "Strengthening the Construction of Trade Associations and Intermediaries" which closed on September 1 1 in 2005, people from all walks of life formed a * * * understanding that trade associations are a kind of group self-discipline management between the legal management of the government and the independent management of enterprises, and they are a necessary supplement to social management. The degree of privatization of enterprises is a necessary prerequisite for the development of trade associations. The development level of trade associations reflects the local marketization level and economic scale, and it is also an institutional export for the government to change its functions. Yu Hai, an associate professor in the Department of Sociology of Fudan University, pointed out that in the pattern of "small government and big society" and the industry management system of the whole society, the prospect of industry associations becoming one of the main bodies of social industry management as a link between enterprises and government agencies is also clear.
On the one hand, it is necessary to cultivate and develop relevant social intermediary organizations. The formation of scientific and reasonable price mechanism depends on developed social intermediary organizations. The formation and adjustment of the price of public utility products must be based on the operating cost, so the cost information of related enterprises is required to be accurate. Affected by the interests of the department, it is difficult for the production department to provide relevant information completely and accurately. Therefore, in order to ensure the accuracy of cost information, social intermediary institutions such as accounting firms or audit firms with good credit standing should audit and calculate the cost of public utilities projects, so as to ensure the accuracy and objectivity of their evaluation results and provide scientific basis for reasonable pricing. Therefore, it is imperative and the general trend to cultivate and develop relevant social intermediary organizations.
On the other hand, cultivate associations in related industries. The role of such organizations is to strengthen self-discipline in the industry, delegate functions that the government could not delegate before, and ease the difficulty of government supervision. Privatization abroad can be very successful and win the support of the people. On the one hand, it is the government's supervision over the quality and price of enterprise products and services, and another important reason is the supervision and management of industry associations. For example, the British government only conducts a few sampling inspections on privatized water enterprises every year, but it can ensure the quality and safety of water use for the general public. The reason is the daily supervision of these enterprises by industry associations and social organizations.
The role of trade associations established in various places can fully reflect the important significance of trade associations to privatization. For example, according to the articles of association or regulations, formulate industry quality norms and service standards; Participate in the formulation of local or national product standards for related industries; Authorized by laws and regulations, entrusted by the government to carry out industry statistics, industry surveys, publishing industry information, public trust certification, price coordination, industry access qualification review, etc.; Supervise member units to operate according to law. For members who violate the articles of association and rules, fail to meet the quality standards and service standards, damage the legitimate rights and interests of consumers, and participate in unfair competition, resulting in damage to the collective image of the industry, industry associations can take disciplinary measures such as warning, industry criticism, informed criticism, and expulsion of members.
6. It is necessary to establish a comprehensive privatization evaluation mechanism.
Establishing a perfect privatization evaluation procedure is an important basis for privatization decision. The original intention of privatization is not to completely shirk the responsibility of the government in the field of public services and privatize all public services, but to better meet the service needs of the public. In fact, the performance of the public sector in terms of services is not necessarily worse than that of the private sector. Millward and Parker made an in-depth study on the existing data of management efficiency of public enterprises and private enterprises in many countries and industries, and came to the conclusion that there is no systematic evidence to prove that the cost-benefit of public enterprises is lower than that of private enterprises.
First of all, this requires the government to make an in-depth analysis of the objects of privatization, clarify the nature of public services, determine the areas where the public sector is suitable to compete with the private sector, select the appropriate objects, and clarify the specific performance objectives to be achieved by privatization, the service providers that can be provided, and the resulting transaction costs such as negotiation and supervision. Give those public services permitted by the Constitution and laws, which cannot be undertaken by the public sector, or which have poor results to the private sector.
Second, the government should also conduct a cost-benefit analysis, compare the advantages and disadvantages of alternative forms of privatization, such as specific implementation conditions, the number and capacity of the private sector capable of providing services, etc., and choose a suitable privatization model. In addition, the government should also formulate clear and transparent privatization procedures, and define the links and standards in the process of privatization, such as bidding, announcement, bidding, supervision and evaluation.
Third, we should cultivate social credit intermediaries and advocate "third-party evaluation". Drawing on the advanced experience of western credit countries, in order to improve the credit system, we should vigorously support professional social credit rating agencies in line with the principle of super-justice and independence.
7. Broaden communication channels for citizens to participate in decision-making.
The implementation of privatization needs the firm support of the government and encourages the public to play an active role in the process of privatization, which is the key to the success of privatization. Privatization will undoubtedly infringe on the interests of some groups and interest groups, which will lead to their opposition. At this time, before making a decision, the government should show its firm stance on privatization reform, publicize privatization knowledge to the public through various channels, let the public know the reasons, expected results and benefits that the public can get from privatization, and show that privatization is to mobilize all kinds of resources and forces to better serve the public's interests, eliminate public concerns about reform, gain their support, and properly solve the unemployment and unemployment problems that may occur after privatization. At the same time, the government should encourage the public to participate in the design of privatization programs and the provision of services through price hearings, opinion consultation and voluntary services.
On the one hand, citizens express their needs and supervise the providers, that is, citizens express their interests in various ways and supervise the providers of public services through certain channels. On the other hand, citizens influence decision makers, that is, when government agencies do not act, it is necessary for citizens to exert pressure and influence on decision makers and force them to respond positively to citizens' preferences. In this way, the government can widely collect the interests and demands of all aspects of society in the decision-making process, gain the support of the people, and make the government make a scientific and reasonable decision that truly conforms to public opinion.
Fourth, conclusion.
In a word, the privatization of public utilities is a systematic project, involving all aspects of problems and difficulties, which determines that the privatization of public utilities in China is a gradual and slow process, which can never be achieved overnight, not to mention the fact that the reform of public utilities in China has just started. Therefore, in the privatization of public utilities, we should pay attention to the planned and step-by-step progress, and we should not rush headlong into it, which will affect the reform itself and social stability. Of course, in the process of privatization of public utilities, we should pay attention to absorbing and drawing lessons from the experience of privatization reform in western countries, and combine the successful experiences and practices of foreign countries with the concrete practice of public utilities reform in China, trying to analyze and examine the present situation of public utilities in China and the difficulties and problems faced by the reform from various angles, and explore a road of privatization of public utilities that conforms to China's national conditions.
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