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The Research On Establishment Of China State-owned Capital Operation Legal System

Posted on:2008-04-23Degree:MasterType:Thesis
Country:ChinaCandidate:Y Y ZhengFull Text:PDF
GTID:2166360242964979Subject:Law
Abstract/Summary:PDF Full Text Request
With the deepening of the reform of state-owned enterprise and state-owned assets administration system, the original presumption that tertiary establishment of SASAC and solve the presence of investor and the separation of government and enterprise, government and capital invites wide query. The conflict of SASAC both as supervisor and investor and the specialty of its positioning and conduct in practice give rise to more and more debate. It is proven that SOE reform remains the center of Chinese economic system reform. State assets supervision and administration system is far from perfection. Legal system of state assets supervision and operation is still pending for establishment and perfection. Reforming has a long way to go.State assets and state capital, state assets management and state capital operation are notions which are coherent and different. This dissertation adopts the notion of state assets operation to emphasize the value of state capital and the attribute of value-adding, which is more helpful to the flow of state capital and the establishment of state capital operation system and ultimately to realize the safety and value-adding of state capital.There are many defects in SOE governance structure in time of traditional plan-oriented economy and in SOE reforming in time of economic system reform. Because of such problems as absence of investor leading to insider control, which is rooted in indistinct owner and its representative of state capital and the lack of personified representative of investor. The establishment of SASAC and the promulgation of State Assets Supervision and Administration Interim Ordinance signify the new stage of state assets administration reform. But, due to the conflict of role of SASAC and the ambiguity of its positioning, controversy is aroused both in theory and practice, which demonstrated the defects in current state assets supervision and administration system. It is necessary to re-define the related main body and its legal relationship of state capital operation.The establishment and perfection of state capital operation system is a systematic project. Innovation must be carried out both on macro, middle and micro levels. On macro level, national economic layout must be adjusted strategically. State assets should be classified through legislation. Emphasis should be put on reform and system innovation on middle level. It must be clearly defined that State Council is the owner of state capital, Ministry of Finance is the representative of state capital owner, SASAC is the supervisor of state capital. Based on the practice of China, referring to western countries' style especially the success of Temasek in Singapore, it is proposed to build up our own state capital operation system through adjusting, reforming and adding etc. and to make it a separation belt between government and SOE and the adaptor between government and SOE enterprise. In view that the legal system on micro level in our country has been mature and optimal, the focus should be put on building up modern enterprise system, optimizing corporate legal representative governance structure. Therefore, it is the most important and difficult to build up and optimize our state capital operation system on macro and middle levels. Efforts must be put on legislation optimization and reform deepening.
Keywords/Search Tags:state-owned capital, operation system, system of law establishment
PDF Full Text Request
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