State-owned Capital Operation Mode Is A Comparative Study

After witnessing the wave of nationalization in the 1950's~1960's, the state-owned economy obtained the popularization of world wide, and became a component of key importance in the national economy of all the nations in the world, especially played an irreplaceable role in the national macro-economic control. But, the efficiency of the state-owned capital was an issue that had long perplexed the government in every country of the world, and especially the period after Mid-1970s in which the operating conditions of state-owned capital deteriorated seriously. So different reform programs and measures were adopted to adjust the operating mode of the state-owned capital, and the experiences from them were worth pondering.Our nation is a socialist country in which the public-owned economy was treated as the subject of national economy. Since more than 50 years from the funding of new China, the state-owned economy has developed and strengthened progressively. And now, the state-owned economy plays the leading and domination role in the whole national economy with the characteristics of huge amount of capital and great varieties of industrial category. But the long-standing problems such as Government's over Interference, obscure property right, poor supervision of government and low efficiency of the capital operation leads to the fact that state-owned capital didn't bring the benefit shares which should be brought. If the problem of low efficiency chould not be solved, it might bring the serious impact to our national economy and the socialist system. By using the comparative analysis of the international and domestic capital operating mode, this paper establishes the system of orderly management, effective supervision, and efficient operation after redesigning the state-owned capital operating mode.The paper gives information about the related theories of state-owned capital. After investigating the capital category historically, and then contrasting the discussion of capital category between Marxism economics and western economics, the author analyzes the capital category based on China's actual situation. From the different angles of western economic theory and theory of socialist economic system, he introduces the theoretical basis for the existence and development of the state-owned capital according to the time order and historical development.After introducing the state-owned capital operating mode in Shenzhen, Shanghai, Jilin and Wuhan in recent year, the paper points out the success and weakness existed in their development. Then it analyzes the"three levels"state-owned capital operating mode which was grown up since the 16th national congress of the CPC. Under the affirmation of the success of this mode, the author expounds some deep problems such as absence of initial client from their duties and unclear position fixing of management department of state-owned capital as well as single mode.Furthermore, the paper presents the operating mode of state-owned capital in 11 developed and developing countries in detail, such as Britain, France, Sweden, America, Germany, Italy, Japan, Singapore, India, Brazil and South Korea. Then finds out the beneficial and enlightenment from the analysis and contrasting of their administration organization and operation organization.In accordance with the former outputs, the paper designs the supervision and administration organization for operating the state-owned capital, that is to set up the supervision organization and administration organization separately. And the"State-owned Assets supervision commission"was to set up under the people's congresses at different levels while"State-owned Assets administration commission"was to set up under the government at all levels. Of main idea to select the operation organization is to operating the state-owned capital in classification. Thus the paper puts forward that different forms of expression should be adopted in different fields, the results are as follows: As to the Industry involving national military security, economic security and cultural security, the state-owned capital should be in the form of single proprietorship or conditional diversification, that is to say, taking the solely state-owned company as its main body. As to the strategic industry and basic industry in the vital position to the national economy, the state-owned capital should be As to the strategic competitive industry which plays an important role in development of national economy and society, the state-owned capital account for a certain proportion with the freedom to select holding shares or taking equity participation. As to the industry related to non-strategic competitive fields, state-owned capital does not necessarily exist in the form of state-owned enterprise, it can also obtain the stock right to share the benefit, and to cooperate, even compete with other capitals appropriately.The different state-owned operation organization should be selected in view of the classification of state-owned capital. As for the state-owned involving national security, the"two levels"operating mode will be adopted, namely, operated by State-owned Assets administration commission straightly. As for the state-owned capital in other fields, the special operation organization will be set up, that is state holding company and state-owned investment company. And the concrete way of state-owned capital operation will be divided into property right, stock right and obligatory right based on the different fields. Up to now, this paper has stretched out a target model of state-owned capital operation.Centering on the problem of constructing the operating mode of state-owned capital, the author do his research on the main line of theoretical analysis of state-owned capital operating, institutional selecting of supervision organization, administration organization and operating organization of the state-owned capital, as well as the operating performance evaluation. The central argument is to bring forward that the supervision organization and administration organization of state-owned capital should be set up separately, and the operation organization should be selected based on the different fields. The main innovative point of this paper also lies here.By showing the complete process from theory research to problem solved, this paper studies the operating system of state-owned capital based on the historical analysis method and comparison analysis method, and presents the operating target mode that accord with the reality of China. Such a research, in which providing a possible way through reform road for improving the operating efficiency of state-owned capital.