Research On State-owned Capital Management Budget Of China

ABSTRACT:State-owned capital management budget is an institutional innovation in China budget management reform, and an important tool to push forward the reform of state-owned enterprise (SOE Reform). Positive effects have been made since its operation in2007, but theoretical study in this area is still at preliminary stage. Issues of this area such as target orientation, revenue and expenditure policies, relationship with public budget, connection between central and local budget, responsibility of the budget main body are related to the function of state-owned capital management budget. Exploration of the solution to all these problems will be significant for government budget system improvement, SOE reform, adjustment of state-owned economy arrangement and macroeconomic policies implementation. Besides, the unique state-owned capital management budget in China is one of the important components in the socialism with Chinese characteristics. Research on the theoretical and practical aspects of it will have active significance in insisting and extending the theoretical system of the socialism with Chinese characteristics.State-owned capital management budget was analyzed thoroughly by using normative analysis and empirical analysis in this aim-oriented study. Analyzing the State-owned Capital Management Budget soil——state-owned enterprise's problems and future reform. And design the related policy around the SOE Reform. Firstly, the introduction of this paper mainly introduces the research background, research content, research significance and research methods; Secondly, it reviewed the domestic and foreign theories and practice about SOE reform and State-owned capital management budget; thirdly, it put forward SOE reform's objectives and specific tasks in the future on the basis of analyzing the SOE reform's theory and practice, discussing the future SOE reform's ideas in the third plenum of18th CPC central committee. Fourthly, by analyzing State-owned capital management budget's theory and practice and SOE reform's future reform goal and task, this paper studied the State-owned capital management budget's frame system, earnings policy, expenditure fields and patterns, performance appraisal, etc. Finally, it gave the main conclusions and policy recommendations as well as the less of the research and the outstanding points to be further investigated in the future research.The research significances of this study are listed as follows. Firstly, all the aspects of the theory of shareholder finance and state finance, China's fundamental economy system and socialist market economy system, government functions transformation, the construction of excessive fiscal finance to the people's livelihood were connected to the studies about state-owned capital management budget. Secondly, it put forward the innovative suggestions on earnings policy, present expenditure fields and patterns from the angle of view of SOE reform. Thirdly, state-owned capital performance budget and evaluation index system were established based on system defects analysis, which can guide practice. Finally, according to the dual financial theory, the overall thinking and suggestions in the linking and cooperation between state-owned capital management budget and public budget were summarized.