Bussiness ManagementMBAstrategyHuman ResourceMarketingHospitalityE-commerceInternational Tradingproject managementmedia managementLogisticsFinanceAccountingadvertisingLawBusiness LawEducationEconomicsBusiness Reportbusiness planresearch proposal
英语论文题目英语教学英语论文商务英语英语论文格式商务英语翻译广告英语商务英语商务英语教学英语翻译论文英美文学英语语言学文化交流中西方文化差异英语论文范文英语论文开题报告初中英语教学英语论文文献综述英语论文参考文献
ResumeRecommendation LetterMotivation LetterPSapplication letterMBA essayBusiness Letteradmission letter Offer letter
澳大利亚论文英国论文加拿大论文芬兰论文瑞典论文澳洲论文新西兰论文法国论文香港论文挪威论文美国论文泰国论文马来西亚论文台湾论文新加坡论文荷兰论文南非论文西班牙论文爱尔兰论文
小学英语教学初中英语教学英语语法高中英语教学大学英语教学听力口语英语阅读英语词汇学英语素质教育英语教育毕业英语教学法
英语论文开题报告英语毕业论文写作指导英语论文写作笔记handbook英语论文提纲英语论文参考文献英语论文文献综述Research Proposal代写留学论文代写留学作业代写Essay论文英语摘要英语论文任务书英语论文格式专业名词turnitin抄袭检查
temcet听力雅思考试托福考试GMATGRE职称英语理工卫生职称英语综合职称英语职称英语
经贸英语论文题目旅游英语论文题目大学英语论文题目中学英语论文题目小学英语论文题目英语文学论文题目英语教学论文题目英语语言学论文题目委婉语论文题目商务英语论文题目最新英语论文题目英语翻译论文题目英语跨文化论文题目
日本文学日本语言学商务日语日本历史日本经济怎样写日语论文日语论文写作格式日语教学日本社会文化日语开题报告日语论文选题
职称英语理工完形填空历年试题模拟试题补全短文概括大意词汇指导阅读理解例题习题卫生职称英语词汇指导完形填空概括大意历年试题阅读理解补全短文模拟试题例题习题综合职称英语完形填空历年试题模拟试题例题习题词汇指导阅读理解补全短文概括大意
论文作者:meisishow论文属性:硕士毕业论文 dissertation登出时间:2014-08-27编辑:meisishow点击率:26584
论文字数:11913论文编号:org201408271023596652语种:英语 English地区:加拿大价格:免费论文
关键词:企业集团中国石油国有企业重组ChinaoilSOE restructuring
摘要:中国石油和石化工业是由国有商业集团所构成的,完全通过机构分离是在1990年代末。本文调查31个国家石油和石化上市公司在2007年至2011年之间的发展现状。
Sinopec Limited kicked off the reorganization of its listed subsidiaries by selling its entire controlling interest (57.6%) in Hubei Xinghua to the State Development and Investment Corporation (SDIC) for 539 million yuan, a little over two years after these shares were transferred to Sinopec from Sinopec Group’s Jingmen refinery lubricants and paraffin wax base in the central south area of China (February, 2000). As for PetroChina and CNPC, they began their consolidation and reorganization of the oil and petrochemical industry in May, 2002. Petroleum Longchang (Long Champ), a Shanghai-based national oil pipeline operator, which was 35.9% owned by CNPC Pipeline Bureau, sold its share of numerous assets to PetroChina for 457 million yuan. In addition to sales and asset swaps, PetroChina and Sinopec Limited engaged in a number of share buybacks or ‘privatizations’ of listed companies, mostly in 2005-6. PetroChina’s buyback strategy came into force in late 2005 when it issued takeover bids totaling 6.15 billion yuan to acquire four listed companies: Jilin Petrochemical, Jinzhou Petrochemical and Liaohe Oil Field (Xu 2006). Sinopec began the exercise in early 2006, issuing bids for outstanding shares of Qilu Petrochemical, Yangzi Petrochemical, Zhongyuan Oil and Gas and Daming Oil in the amount of 14.3 billion yuan (An 2006). The implementation of this mass ‘privatization’ was tested out in years prior.
Sinopec, for example, had initiated the consolidation of Yanshan Petrochemical,16 listed in Hong Kong, in late 2004, and Zhenhai Refinery, also in Hong Kong, in late 2005, with the deals costing 3.85 billion HKD and 7.67 billion HKD, respectively. RPTs In 2007, NOPCs had approximately 11% of all operating revenue and 22% of all operating cost arising from RPTs. When Sinopec Limited (with 12% of both revenue and cost coming from related parties) and PetroChina (with 6% and 36%), are excluded, these percentages rise to 26% and 44%. This indicates a much higher amount of RPTs in the oil and petrochemical industry outside the two oligopolistic players. Yet if the figures are calculated excluding not only Sinopec Limited and PetroChina but also their related affiliates,17 the numbers are 19% for related party sales and 13% for related party costs. Thus Sinopec Limited and PetroChina affiliates rely to a much larger extent on supplies and sales channels from these two, while NOPCs unrelated to Sinopec Limited and PetroChina have more reliance on their group affiliates for sales channels than supplies—perhaps understandable, if oil and petrochemical inputs are coming from Sinopec and PetroChina. Sales represents a downstream orientation for NOPCs. www.51lunwen.org The higher ratios of related party purchases versus sales can be understood if the supply of oil is dominated by Sinopec Limited and PetroChina, as their listed affiliates have little choice but to purchase upstream inputs from their parent or its affiliates. Indeed, all of the companies with more than 30% of operating cost coming from related party purchases were either CNPC, Sinopec Group or Sinopec Limited affiliates. In 2011, the weighted average ratios of related party sales and purchases to total operating revenue and cost for the entire group of NOPCs are 10% 本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。