Research Institutions, Asset Management Reform

The reform of public institutions'asset management is an important part of the state-owned asset management reform. In addition, it is also an important issue which facing our country in current stage. Accelerating the process of the reform of public institutions'asset management and optimizing the effectiveness of various reform measures is not only the fundamental objective of improving the China's market economy, but also is the important goal of the development of the China's public financial institution-building. Compare with another major branch of state-owned asset----the reform of operating state-owned asset management, the reform of public institutions'asset management have different characters, it started even later, with lower basic, push forward even harder and need to do more. However, two kinds of reformation also share similarity, both of them are complex system engineering, they can not be done overnight and need rational planning and co-ordination.With the reform of public institutions and the reform of the institutions management system and patterns, China's institutions asset management system has experienced several changes; its adaptability has been greatly improved. It should be said that, the current public institutions'management system and patterns better adapt to the line operation mechanism and background of economic and social, it achieves more management effectiveness.In particular, since 2006, based on Ministry of Finance as the main part of the integrated management, China has carried on a series of reform, adopted strong measures such as the construction of laws and regulations, inspection of assets, the improvement of the management measures, the strengthen of the supervision and so on. Those actions have made great achievement, and established solid foundation for the optimization of public institutions' asset management.But it can not be ignored that China's reform of the public institutions management system and patterns still exist problems, and further actions need to be taken to remove barriers, eliminate bottlenecks, overcome the difficulties and deepen the reform. For a long period of time, we should strengthen our confidence, continue to push forward the reform of public institutions asset management, and pragmatically ensure the implementation of existing policies and measures, seriously designed the new policies which can adapt to the changing situation well, strive for optimizing the reform of public institutions management in a comprehensive and multi-level way. Truly improve the efficiency and effectiveness of public assets management, and make contribution for China's economic reform and public finance construction.In this paper, the author did the research on the scope and scale of public institutions and public institution assets, the history and reform process of institutions'asset management and the existing problems with it. In addition, the author also found we need to take further action on the reform of public institutions'asset management, and there will be a long way to go.Meanwhile, after deep consideration and systematical summary and drawing lessons from the experience of some countries and the practice of local administrations on similar kinds of asset management, the author also gave a basic idea and some comprehensive proposals for the reform of public institutions'asset management, so as to sort out system, outline the ideas, build the framework and promote the process of reform for the China's public institutions asset management and public asset management. This paper can be divided into six chapters, besides the first introductory chapter, the remaining five chapters sequentially in accordance with the logic of areas defining- change analyzing-difficulties finding-experience learning-ideas and suggestions proposing.The content of the second chapter is "areas defining", mainly analyze the feature and scope of public institutions asset management, which focus on three concepts, they are public institutions, public institutions asset and the management of public institutions asset. In addition, the author also analyzes and specifies several similar definitions, such as public sector assets, public assets, public institutions'assets, business assets as well as non-operating assets, points out the asset of public institutions has three characteristics--public, nonprofit, and market-oriented. Finally, according to the latest statistics, the overall scale, industrial distribution and the size of different types of public institutions assets will be described in this chapter.The third chapter focuses on the "change analyzing", mainly from the vertical perspective to analyze the history and the process of reform of the China's public institutions assets management. The pattern of China's public institutions asset management have experienced several periods in accordance with the reform of economy and the financial management system:the first was "the State-owned model, ruled on different levels" during the early days of new China; the second was the back-and-forth swing between the centralized fiscal administration and power delegation before the opening-up and reform; after 1978 it went through united management by public finance, specialized management by certain agency and separation of the management on two types of assets; by 2006, it finally formed the current model of comprehensive fiscal management. We can say that the great breakthrough has been made in the reform of public institutions'asset management, but there are still problems, still need further promotional actions.The content of the fourth chapter is mainly about "difficulties finding" which emphasizes on a detailed analysis in the difficulties, focuses and the bottlenecks of the reform of public institutions'asset management. It points out that the difficulties in the reform are not only exists in the process of promoting the reform of public institutions, but also in the other related reformation. There are many bottlenecks such as the complex system, the absence of necessary regulations, lack of advanced ideas and adequate management measures, and even the slow pace of technology development, which need to be resolved step by step and lay stress on the key points."Experience learning" is the key topic in the fifth chapter, which mainly from the horizontal perspective to analysis the international experience and local administrations'practice. On the one hand, the author summarized the country's public assets management practices from the United States, Britain and Japan; on the other hand, analyzed several representative models in China, such as Jiangsu model, Chongqing model and Heilongjiang model, those experiences are available to be borrowed by China's public institutions asset management reformation. Chapter six focuses on "ideas and suggestions proposing". After systematic analysis the author proposed overall idea and solution in the reform of public institutions'asset management. This chapter stressed that the reform of public institutions'asset management must adhere to the scientific and efficient principles, around the aims of clearing property rights, allocating scientifically, regulating with unified policy, managing in different levels with rational use, delicacy management, proper disposal and impartial supervision and toward the way which is social-based, diversification, merit-based, law-based and with chinese characteristics to realize the steady development.Around this general idea, the author advanced the specific suggestions to further promote the reform of public institutions, improve the framework of public institutions'asset management, develop the management regulations, establish the specialized agencies, revitalize stock assets and improve incremental assets'performance.