Study On Property Rights Reform Of China' State-Owned Commercial Bank

As the important participate in the market economy, the commercial banks' pattern of conduct and its situation play an important role in the development of the whole economy. The four stated owned commercial banks (Industrial and Commercial bank, Bank of China, Construction Bank of china, Agriculture Bank of China) are the core of the industry of bank in China and they do matter with the financial health, economical development and political stability. From the view of the nature of property right, commercial banks are neither financial medium organizations not government institutions. But under the condition of planned economy, to meet the special needs, the four banks have taken the form of state-owned property right and acted as the fiscal function of government. With the establishment of the market economy, the two shortcomings (low benefit and high risk)were emerged. Though the stated owned banks take the monopoly position, the capacity of gaining profits and the merit are obviously lower than other stock banks and foreign banks. The small stock banks although have been established more latter, they have the strong capacity of gaining profits, and their efficiency is much higher than the state owned banks. The low efficiency of the state owned banks is not due to the large scale, while they do not take the advantage of their large scale. The low efficiency and high risk of the state owned banks are the result of the externality of the benefits and risks. On one hand, the benefits of the state owned banks are dependent on the conduction situation of the state owned enterprises and on the other hand, the risks of operation the banks are belonged to the responsibility of the government. The twenty years' bank reform achieves a lot, but it still do not get out of the situation of low efficiency and high risk. The source of the problem is that the state monopolizes the whole property right of the state owned banks. So the diversified property right is the solution to the problem. By analyzing the decision system, encouraging system and restrain system of the stock commercial bank, the stock commercial bank's property right arrangement is a very clear corporation system and it can produce the efficient encouraging and restrain system and make the commercial bank conduct according to the principle of fluidity, safety and benefits. It does good to the improvement of the scientific decision of the commercial bank and enhance the efficiency of resource allocating. So it is an idealproperty right pattern. The goal of the property right reform of the state owned banks is not to enlarge the own capital, but through drawing into the strategic investment, to reestablish the control structure, reduce the deputy fees and improve the administering system. To ensure the success of the reform, we should prepare positively and move forward steadily. On the basis of stock reform, it also needs to develop the restraint supervision, encouragement function of the capital market. So, it is inevitable for the banks to go into the stock market. There is a gap between the management situation of the bank and the requirement of going into the stock market. And in other words, the banks have difficulty in going into the stock market. So the only feasible solution is to divide the banks first and then make the qualified parts to go into the stock market.