One of the biggest problems for state-owned enterprises in need of reform is that their property rights belong to the state, which creates the contradiction of impersonalization of state-owned enterprises' management. The consequence is that business managers do not have to be responsible to the business. It is difficult for enterprises to realize economic benefits. In the reform, state-owned enterprises began to face the market, and the government also gave it full autonomy, but this in turn caused some state-owned enterprise executives to strengthen insider control, making state-owned enterprises a corruption channel for some people to fake their own business. However, the public capital absorbed through the shareholding reform cannot be a check and balance due to its meager power. Obviously, after the establishment of the mixed ownership model, if this kind of insider control mechanism of state-owned enterprises has not been changed, then its effect can only be limited.
the text intended to emphasize?
The impersonalization of management makes it difficult for state-owned enterprises to achieve economic benefits.