Legal Perfection Of Wholly State-funded Corporations Governance

The wholly state-funded company is at present one kind of important organization form of the state-owned enterprise in our country, plays the pivotal role in the state-owned economic front. So the wholly state-funded company was the topic, which was unable to overstep and to avoid in studying the Chinese state-owned enterprise. In particular, changing the system from traditional state-owned enterprise to modern company system, many large-scale state-owned enterprise choosing the wholly state-funded company, which will affect process for establishing the modern enterprise system, what role will the wholly state-funded company act in from now on or in the longer time among state-owned enterprise, as well as advantages and disadvantages of the wholly state-funded company present system arrangement, even developing tendency and so on, all was important topic that our country state-owned enterprise law and even the company law research. Law circle and economical circle put more attention on the limited liability company and the limited liability company; the studying in wholly state-funded company is neglected,This article starts to research the wholly state-funded company from studying one person's company. Before correcting the company law, the legislators continuously discuss if they add one person's company in the law. Various countries acknowledge one person's company, such as European Union. Major states in the America acknowledged one person's company; Japan in recent years also revises the law to establish one person's company. Hong Kong, Taiwan area also exist one person's company in practice although legislation does not permit. Our country repeatedly discusses three kinds of one person's company this in drafting the new company law, namely investor for natural person, legal person and country. Finally, the legislation only acknowledged setting up one person's company by the state investment, namely wholly state-funded company. The legislation intention is only changing the national monopoly industry to the wholly state-funded company, but more and more state-owned enterprises change to the wholly state-funded company in the practice.The wholly state-funded company has more general characters with the traditional state-owned enterprises than with the modern companies. The core content of the modern enterprise (company) system is the property right system and the legal person governing system, the basic characteristic of the modern enterprise system is the structure multiplication of the property right (stockholder's rights) and democratic governing of the legal person. But the wholly state-funded company obviously does not have these two basic characteristics. In theory, the property right relations of wholly state-funded company has four characteristics comparing with traditional state-owned enterprises: One is the main body of property rights makes clear; Two, it established the legal person property rights system; Three was the country turns the investment, by the owner; Four, it established the standard company governing structure. But in the process which the state-owned enterprises change the system, the wholly state-funded company do not have above four characteristics, or said the above four aspects exist some questions in different degree. This also decided the traditional state-owned enterprise changing the system for the wholly state-funded company, was not steps one stride on the road of establishing modern enterprise system, but merely was one half step. So the wholly state-funded company governs obvious crisis. Although the related company governing structure has been proposed for many years, but regarding the state-owned enterprise, good company governing structure not only is the slogan, but also is a permanent treatment to solve own system problem and enhance competitive ability. We must have the new breakthrough in the property right system and the operator stimulus mechanism to impel the state-owned big enterprises reforming, to perfect legal person governing structure; practically to transform the management mechanism. On this point, it has been a common understanding all over the country since the 16th Plenum of National People's Congress. At the present stage, the most important thing is to fasten the internal reform of state-owned enterprises and to develop an effective corporate governance structure.Therefore, in the second reform of state-owned enterprise, the innovation of wholly state-funded company system has positive significance, as well as limitation at the same time, as well as development tendencies that the wholly state-funded company system will end by other system substitutions, will be key of this article.This paper is divided into four parts.Chapterâ… introduces particularity studies of wholly state-funded company. It concludes. It concludes: One, inspecting one person's company legislates in the history; two, the wholly state-funded company and one person's company; three, wholly state-funded company's legislation.Chapterâ…¡reviews wholly state-funded company's legal movement environment. It concludes: one, the system background of wholly state-funded company; two, positive significance and the limitation of the wholly state-funded company system; three, present government structure appraisal of wholly state-funded company.Chapterâ…¢compares and contrasts the experiences of wholly state-funded company in other countries. It concludes: comparing legal status and the government analysis with wholly state-funded company beyond the border; two, analyzing property right changing and the government efficiency of wholly state-funded company from the cases.Chapterâ…£offers many suggestions as to perfect state-owned enterprises governance structure. It concludes: one, the starting point of legal person governing of the wholly state-funded company; two, the strengthened wholly state-funded company governing; three, the significance of governing structure innovation of the wholly state-funded company. The ending forecasts development tendency of wholly state-funded company system in our country.