Study On Legal Issue Of State-holding Corporation Under The Operation

Since China began reforming later in 1970's, stated-owned enterprise has been the core of the reform of the economic system. To achieve the goal, a series of important measures have been adopted, experiencing the course from increasing self-decision power of enterprises to delegating power, but integrity of relations between government and enterprise and unclearness of property right haven't been substantially changed.To overcome the shortcomings of state-owned property management, a special organization must be established, and whose function is to run the state-owned capital. It functionally invested the state-owned capital into other enterprises, thus makes itself a holding company. So, unlike common state-owned company, the attribute of the state-owned capital operation organization should be state-holding company, since 1990's, it is the main reason of organizing and developing state-holding company.How to establish the relations among government, state-holding company and subsidiaries, and to control the action of state-holding company, are the key issues in the course of organizing and developing state-holding company.This thesis starts with analyzing the situation of foreign state-holding company, and then focuses on the said issues. It falls into three parts.Chapter I analyzes the emerging background of and current situation of state-holding company. First, it analyzes the reason of state holding company existence widely throughout the world. Secondly, through the approach of practical analyzing, in combination with the practice of establishing state-holding company in China, it studies the situation of organizing state-holding company and existing problems under the operation in recent years.Chapter II discuss the legal status of state-holding company and legal relations among government, state-holding company and its subsidiaries.First, state-holding company is double-faced in legal attribute. On one hand, it isauthorized to run state capital; on the other hand, it is the investors of the state capital and excise the power in name of state. So, it stands between government and the enterprise, playing a role of weakening government involvement and carrying the responsibility of preserving and enhancing the state capital.Secondly, this chapter analyzes the legal relations on state-holding company in two ways. One is external relation between government and State-holding Company; the other is internal relation between state-holding company and its subsidiaries.Chapter III mainly discuss how to regulate the actions of state-holding company.First, in view of the relevant legislation shortage, this chapter compares foreign practice, and proposes adopting multiple legal structures to management state-holding company.Secondly, in view of ineffective control over state-holding company, it puts forward establishing state investment-representative system. It consists of representative pick-up system, report system, excitation system, and personal liability system.