Legal Research Of Property Right Reform Of Soe

The reform of SOEs started from 1978, in the period from then, it come through series of reform modes for mechanism of management, such as tax reducibility for increasing profit, changing profit to tax, contract, lease out, cooperation of share and so on. But all these reform modes were washed out or could not be extended cosmically. In the constituting of modern enterprise system, SOEs went through the company system rebuilding which was like the "marriage only ordered by others", although the organization of SOE was more and more complete, but the variousness of property right body has not been realized, the SOEs have not been changed essentially and pervasively. In the deeper reform for variousness of property right body, ESOP and MBO appeared in the practice largely, the related modes were attended and regarded extraordinarily and were extended nationally. In the practice, the reforms were very different in different places with a lot of problems appearing. Through simple review of SOE reform history and expounding of new direction for SOE reform and thoughtfulness for management of state-owned assets in this article, it is clear that the reform of property right is also the important content for SOE reform. Combining the extending of ESOP and MBO, it is pointed out in this article that ESOP and MBO are significant for SOE reform. In this article, a lot of related issues are analyzed emphatically , such as difference of reform bases in ESOP and MBO, dimness of nation policy, scarcity of shareholder, share setting in related enterprises and share management etc., and a lot of assumption are pointed out, such as deep understanding the realistic significance of ESOP and MBO for the SOE's property right reform standing by our national situation, government should support by constituting the new policy and constitute new law for SOE reform step by step through various legislation modes, and correspond the legislation of SOE in the future with modification of company law, and standardize the modes of share-holding by trust law, and realize the transition from ESOP to MBO. In the end, the future of ESOP and MBOis expected in this article. It is figured out in this article that the problem of fortune distribution must be resolved when adopting measures to prevent losing of state-owned assets, and the government should sum up the experience of reform to improve and standardize the environment of ESOP and MBO, and put these reform modes to realize better effect.