| In 2003, the new Chinese Central Government set up with their administration creed, of which one of the most important items is to carry out "finance reformation, on one hand to set up and improve finance supervision system and on the other hand to speed up reformation of state-owned financial enterprises in order to set up real modern financial enterprise system". Recently, the Central Government invests $45 billion in Construction Bank of China and Bank of China, to help and push these two large state-owned commercial banks to corporationized transform and come into the list share market. This is the symbol of the formal launch of the corporationized reform of the state-owned commercial bank in China.In the past years, both Central Government and the commercial banks have made efforts to push the state-owned bank reform. In 1995, the "Law of the Commercial Bank" was issued, symbolizing historic breakthrough of financial system reformation. Since then the commercial banks independently take their civil responsibility under the limit of their whole corporation property. The top four state-owned banks were being in the transition to "real" commercial banks, which is represented by issuing and implementing a series measures with aim to enhance managing structure both inside and outside. Some positive results and active effect are achieved. But the efficiency problem of the state-owned banks is not solved. This is because these banks are still owned by state and the monopole property right institution dose not fit the market economy characterized by the competition and survival rule.The market economy is characterized by fair trade between market main parties. The content of the trade is the right of property. Therefore the market requires the property right must be a pure economic right. In the traditional Chinese state-owned system, the state is the owner party of the property and the government is the eminent domain party. These two parties can never be of economic characters, therefore their right to the property is not the economic right. The market economy requires, in addition, there should be a clear distinguish between trade parties. The clearer the bound of the right is, the more effective of the market mechanism will generate.The property right must be split, as a condition to be put into market, such as possess right, eminent domain, income receiving right and disposition right etc. These are the necessity in the trading process.The typical property right split and handling way is consigning and deputizing system. The most perfect representative of this system is the contemporary enterprise system—corporation system. In this system the property right is split into possess right, eminent domain and managing right. In practice, possess right is equal to share held by investor. The eminent domain is equivalent to the legal entity (board of member), holding the property. The managing right is the function of professional managers. This split set up the administrative structure of an enterprise. The present thesis is to study the property right institution, consign and deputize relationship and administration structure of an enterprise; this is also the base logic of the thesis.The commercial bank is though a special enterprise that manages money business, possess all normal enterprise characters. Property right institution is the core of an enterprise, since it plays an important role in the business. Therefore the state-owned commercial banks reformation should focus on the property right institution reform.At present, the main problems in these state-own commercial banks can be summarized as one "high" and one "low", i.e. the ratio of the bad asset is high and the capital plentitude is low. This makes these banks in low efficiency and high risk in their business. This is a general situation. There are many complicate factors caused this situation, but the main reason is the defect in the property right institution in these banks. The single owner of these banks, state...
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