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This study aims to explore the relationship between the degree of state-owned enterprises’ (SOEs) mixed reform and the environmental response of enterprises, against the background of actively promoting the reform of mixed ownership in China.

The study is conducted on a sample of A-share listed manufacturing companies in Shanghai and Shenzhen of China, investigated for the period 2015 to 2020. The baseline regression results are robust to a series of robustness and endogeneity tests. To deal with the issue of endogeneity, the technique of instrumental variable method has been applied.

The study confirms the U-shaped effect of the depth and restriction of mixed ownership on SOEs’ environmentally responsive behaviour in the manufacturing industry, especially for lower environmental regulation and higher level of risk-taking firms. The findings indicate that the government, shareholders and other stakeholders of enterprises should not simply consider that the mixed reform is directly promoting or reducing the environmental response behaviour of enterprises.

SOEs should improve their shareholding structures to undermine performance enhancement at the expense of the environment and increase environmentally beneficial behaviours. Regulators and governments should improve the institutional mechanism of environmental regulation and make efforts to promote corporate awareness of the environment.

Although the adoption and implementation of environmentally friendly policies are costly, improved environmental response and other social responsibilities are helpful to corporate long-term growth and reputation and obtain more capital market attention. Therefore, firms would benefit from improving their environmental response to protect nature, as well as to enjoy the economic and social benefits of a better environmental response.

To the best of the authors’ knowledge, there is a lack of studies focussing on the environmental behaviour of SOEs of mixed reform. As the mixed reform in China has come to a climax phase in recent several years, SOEs of mixed reform is an ideal environment for research. The study focusses on manufacturing firms as these firms are more susceptible to contribute to environmental pollution, exploitation of natural resources and labour concerns.

Stainless-clad bimetallic steels (SCBS) are widely investigated in some extremely environmental applications areas, such as polar sailing area and tropical oil and gas platforms areas, because of their excellent anticorrosion performance and relatively lower production costs. However, the properties of SCBS, including the mechanical strength, weldability and the anticorrosion behavior, have a direct relation with the manufacturing process and can affect their practical applications. This paper aims to review the application and the properties requirements of SCBS in marine environments to promote the application of this new material in more fields.

In this paper, the manufacturing process, welding and corrosion-resistant properties of SCBS were introduced systematically by reviewing the related literatures, and some results of the authors’ research group were also introduced briefly.

Different preparation methods, such as rolling composite, casting rolling composite, explosive composite, laser cladding and plasma arc cladding, as well as the process parameters, including the vacuum degree, rolling temperature, rolling reduction ratio, volume ratios of liquid to solid, explosive ratio and the heat treatment, influenced a lot on the properties of the SCBS through changing the interface microstructures. Otherwise, the variations in rolling temperature, pass, reduction and the grain size of clad steel also brought the dissimilarities of the mechanical properties, microhardness, bonding strength and toughness. Another two new processes, clad teeming method and interlayer explosive welding, deserve more attention because of their excellent microstructure control ability. The superior corrosion resistance of SCBS can alleviate the corrosion problem in the marine environment and prolong the service life of the equipment, but the phenomenon of galvanic corrosion should be noted as much as possible. The high dilution rate, welding process specifications and heat treatment can weaken the intergranular corrosion resistance in the weld area.

This paper summarizes the application of SCBS in marine environments and provides an overview and reference for the research of stainless-clad bimetallic steel.