The Path-Choices And Legal Regulation Of Privatization Of Chinese State-owned Enterprises

From 1970's, privatization has become a tide of the globe. The market - oriented economic countries and the transitional countries took privatization as the basic goal of the reformation of state-owned enterprises. China also followed this trend. From earlier "giving out power and profit", "contracting out or leasing" to subsequent "corporatisation" and the "reformation of property right", privatization leads the state-owned enterprises back to the nature of market subjects. However, by considering the paths of privatization of state-owned enterprises in China, we can find clearly that most of them have some non-market characters and inside defects. Because of the absent of efficiently regulation of unimpaired laws, the management of state-owned assets and the protection of stakeholders become the two biggest problems. And then, the study on the legal problems of privatization of state-owned enterprises is suffering a snub for its unclearly intertwining with the system of ownership and the system of property right. So the theory and the legislation of privatization fall far more behind the actual needs of social life. This paper is based on the understanding of the significant and pressing meaning of privatization of Chinese state-owned enterprises. In this paper, we will lay aside the economists' arguments about the right and wrongs of the privatization and use the rationally and practically legal thoughts to analyze the non-market characters and defects. After then, we will also raise some preliminary advises for the protection of state-owned assets, the reconstruction of the laws related to privatization and the protection of the stakeholders of the privated enterprises.