| Stated-owned enterprise's reform plays a central role in reforms of economic systems in China, which has experienced many steps, such as gave more power to SOEs, allowed SOEs to retain a portion of profits, replaced the submitting of profits with the paying of taxes, adopted contract system, established corporate system and so on. And these all measures were taken about the end of 1970s, which stimulated the development of SOEs and promoted the efficiency of SOEs. However, there are still some difficulties in Chinese SOEs, they are mainly the increasing deficit of SOEs, the loss of State-owned assets and large debts.The thesis is based on the research on one of the branches of theories of modern corporations, that is the principle-agency theory to analyze SOEs' reform in China. The purpose of the thesis is to make SOEs turn better through appropriate measures.It clarifies the formation of principle-agency relations by the developing process of enterprises' patterns. From the point of the article's view, the existence and formation of principle-agency relations are an inevitable tendency in society with the separation between ownership and operation-ship, moreover, principle-agency is the inevitable result that reflect socialization and management of ownership. Like any western companies, SOEs in China also have complicated principle-agencyrelations. Just because of different arrangements of property rights, there are big differences between domestic SOEs and outside enterprises.Thereby, the structures of the thesis are as follows: generalize principle-agency theory in the first chapter; the next chapter discusses the history of evolution of principle-agency relations in Chinese SOEs; the third chapter analyzes some problems of principle-agency relations in domestic SOEs; the last chapter thinks that we should take some effective measures to solve problems in SOES, which should adopt some suggestion from western corporations.
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