Study On Legal Issues Of Withdrawal Of State Owned Shares

Nowadays the question about the state_owned shares is always a hot spot in china, such as the complete circulation of the state_owned shares, and the reduction of possession for the state_owned shares, etc. But no matter what sytle is adopted, the complete circulation or the reduction of possession, the ultimate purpose of the state is to withdraw the state_owned shares reasonably and effectually. For the history and institution reason, there exsists plenty of nationalized enterprises in the socialism country like china, consequently, the state holds large quantity of state_owned shares.For the purpose of withdrawing these state_owned shares, there must be a sound mechanism of law, but our country has been implementing the market economy just for a short period, so the mechanism of law in china is not sound enough, and there are many flaws in the institution. We should know that the state_owned shares don't exsist only in socialism country, it also exists in foreign country, especially in western capitalism country. In the eighties of twenty century, the upsurge of withdrawing the state_owned shares has been raised in the West. There are many experiences for us to study.Through comparing the provisions of the withdrawal of state_owned shares in china and foreign countries, and studying the advanced experience about the withdrawal of state_owned shares, this paper will divide the style of withdrawal of the state_owned shares into four kinds, manager buyout, employee stock ownership plan, foreign capital buyout and nongovernmental business enter, and then analyze the advantages and defects of the four styles with combining current law and regulations and the state of the country in china. At last, the author will put forward some significant and constructive propositions for legislation of china.