By Jia Tao, the General Office of DRC

Research Report No.105, 2016 (Total 4988) 2016-8-12

Abstract: At present, China is experiencing a crucial period of deepening the reform of state-owned enterprises (SOEs). Electricite de France (EDF) is a world-known state-owned enterprise and its development experience is worthy of borrowing. This report gives a detailed analysis of EDF respectively from the perspectives of its past and present performance, its ownership structure and corporate governance as well as government-enterprise relations. On ownership structure, EDF has realized mixed ownership through overall listing plus employee stock ownership plans (ESOP). On corporate governance, the government has ensured that the functions of the board of directors should be brought into full play so that a sound corporate governance can bolster the long-term stable operation of EDF. On the relationship between government and EDF, the government exercises its rights as the shareholder through the representatives of the National Bureau of Ownership. Apart from its control over the capital, the government gives free rein to industrial regulations. The practices of EDF is worthy of further studying during the process of deepening the reform of state-owned enterprises in China.

Key words: the reform of state-owned enterprises, state-owned enterprises, corporate governance, relationship between government and enterprises, EDF