Research On The Relationship Between Efficiency And Reform Of Property Right System In State-owned Commercial Bank In China

As one part of China's economic reforms, the reform of state-owned commercial banks provide a lot of financial support for the state-owned economy and stable development in the gradual reform process along with China, meanwhile it has made some of the effectiveness of this reform also. But how to deepen state-owned commercial bank reform, to accelerate the establishment of a modern financial enterprise system in order to exchange state-owned commercial banks into genuine commercial banks? Based on the history and the status of the property rights in China's state-owned commercial banks, Referencing the system theory and experience from foreign ownership of state-owned commercial banks reform, this article proposed the problem exists in our country current state-owned commercial bank and corresponding reform issue.Based on property rights theory of System Economics and the allocation of financial resources linked to the foundation, this article recalled the evolutional history of ownership system in the China's state-owned commercial banks, meanwhile analysis deeply that how to improve China's state-owned commercial banks more efficient, to optimize property rights system in the state-owned commercial banks. This article proposed that improve the structure of property rights can solve Principal-Agent Problem, forming diversified ownership structure, improving corporate governance structure, shorten the principal-agent chain. However, the state-owned commercial banks want to compete in an invincible position, it must accelerate financial innovations and Intermediate business for the position, so as to enable the state-owned commercial banks to improve the operational structure, improving operating efficiency, and foster new profit growth. At first this article introduced the theory of the state-owned commercial banks to carry out reform of the property right system and to improve the efficiency. A property that once the norms of social and legal nature, it has made in the forms. Property rights system is affecting the allocation of resources and economic performance, an important endogenous variable, clear property rights system to clear transactions border, regulate trade, is expected to form a stable, enhance the inherent rights of incentives and improve the efficiency of resource allocation. But in the last several years, with joint-stock reform deepens, China's state-owned commercial banks on whether to bring in foreign strategic investors, whether to allow foreign banks to participate in market competition among the top, there is no practical experience and deepen the reform of the shareholding future, we need in the course of practice lessons learned, lessons, explore suitable for a socialist market economic development.Then this article cited the authority of Finance magazine, "Journal of Banking & Finance" 2005, for the bank privatization of thematic essays (Clarke, Cull and Shirley. 2005), based on the entire collection of developing countries, particularly the Central and Eastern European countries in transition of state-owned commercial banks into the property rights reform efficiency of the process changes the experience, sum up the developing countries on the reform of property rights of state-owned banks and efficient way of Proposition 3, from strategic investors to sell the shares and allowing foreign banks to compete whether it is conducive to the improvement of efficiency, China is conducive to the formation of a more competitive banking system problems, given China's state-owned commercial banks diversification of property rights reform strong Enlightenment:1.Strategic investors does not mean foreign investors, so commercial banks reform of property rights will tend to choose strategic investors, including domestic strategic investors. 2.Allowing foreign banks to participate in competition, but "foreign exchange efficiency" of property rights reform model needs careful treatment. 3.Deregulation, the introduction of domestic capital is a commercial bank's ownership reform the inevitable direction. 4.the development of capital markets, establish and improve the circulation of capital and its mechanism of protection of property rights of state-owned commercial banks reforms in external conditions.On this basis, China's state-owned commercial banks in the whole process of banking reform, or a property are not clear-cut, Owner Absent; The non-tradable property rights; Single ownership structure; The multilevel nature of Principal-agent chain, and a series of other issues. By constructing a government utility function to note that ownership unclear cause to a kind of not standardized relationship between the banks and the government; According to Zhang Weiying "transformer" theory, analysis the relationship from the final property owner to direct control of property, because of too many layers, caused by the owners of the dominate the supervision and restriction of weakening. Therefore improve China's state-owned commercial banks more efficient, optimize the state-owned commercial banks, a property rights system. Must actively and steadily push forward the joint-stock reform and develop diversified ownership structure, improve corporate governance structure, shorten the principal-agent chain. From the interests of the state in maintaining public ownership under the premise, it is necessary to fully guarantee the level of state-controlled. Deal with China's state-owned commercial banks to improve efficiency and equity structure, in optimizing the structure of property rights on the basis of the vigorous opening up business among commercial banks, the establishment of a deposit insurance system, and establishing equality, healthy bank-enterprise relationships, nurturing external market conditions for property rights transactions, and complete China's financial legal system. Finally, in the concluding part of this article to bring in foreign strategic investors, to resolve the financial capital and financial asset allocation optimization, established clearly ownership, clear rights and responsibilities, separation of government from enterprises, and scientific management in the banking system made a number of recommendations: 1. We should fully realize that the introduction of strategic investors to improve the bank's corporate governance, promote the listing of banks and further reform of positive significance Meanwhile, they should also know that strategic investors could change to the financial investors, the core message, the invisible loss of wealth from the risk. For foreign strategic investors with good returns expected to boost the confidence of its holdings. Clarified and refined overseas strategic investors should bear the obligation to ensure the effectiveness of attracting investment. 2. The establishment and improvement of attracting investments and strategic support of the laws and regulations, to take measures to enhance supervision of the CBRC. 3. Not to say blindly ownership structure and efficiency of any banking relationship between the two links While such links can be improved through efforts to solve the structure of property rights agency; the other can develop a variety of financial institutions, strengthening competitiveness and breaking the monopoly to raise the entire financial sector efficiency. 4. in China's state-owned commercial banks the property rights system reform this gradual process, diversification of property rights reform is not complete elimination of the state-owned commercial banks shares, and further opening up of domestic funds, even absorb private capital into the domestic personal for the state-owned commercial banks diversification of property rights is of great significance. 5. to raise China's state-owned commercial banks more efficient, from the structure of property rights and property rights system start are not enough. Ultimately accelerate financial innovations and pioneering commercial banks in the middle business to adapt to the economic situation, perfecting the state-owned commercial bank functions, improving operating efficiency, the only way to international practice.