Research On The Legal Protection Of State-Owned Assets In The Course Of Chinese Management Buy-out

Management Buy-Out from the 1980s' has become a popular merger onacquisition. Along with the strategic restructuring of state-owned economy, anddeepening the reform of state-owned enterprises, Management Buy-Out in ourcountry gradually rises. It has become an important reform of the system of propertyrights of state-owned enterprises. In the course of Chinese Management Buy-Out,there are many issues heavily involved in state-owned assets, and it used to standardizethe implementation of laws and regulations are not sound, so leading to the losses ofstate-owned assets. Thus it aroused widespread concern and controversy.This article introduced the basic theory of Management Buy-Out, analysis of themajor legal relationship in the course of Chinese Management Buy-Out, introducedthe background, development process and our policy environment and legal processof Management Buy-Out. The analyses focused on the relations between ManagementBuy-Out and losses of state-owned assets. Analysis on the causes of the losses ofstate-owned assets in the course of Management Buy-Out, and finding legalprotection responses of state-owned assets.By analysing the causes of the losses of state-owned assets in the course ofManagement Buy-Out, the paper presented the legislative proposal which speeding upthe legislative process of 《The Law Of State-owned Assets》, took legal protectionmeasures, such as to establish a rational mechanism for assessing purchasing price, tostrengthen internal oversight mechanisms, to strengthen of the external oversightmanagement, to improve the disclosure of information system throughout the processof Management Buy-Out.