Study On State-Owned Capital Operating Budget Management

The report of 16 Party Congress raises a claim of establishing a new system of state-owned assets management, that is, the state should formulate laws and regulations to set up the system of state-owned assets management ---central and local government represent the state to fulfill the duties of assets—owned respectively, and enjoy the unity of owners' rights, obligations and responsibilities ,and combine the management of assets ,human resources and business .For carrying out that principal, there is an urgent need to establish and improve a new pattern of state-owned capital management structure.In such a new system of state-owned capital management, the most urgent problem is how to manage the state-owned capital for the value preservation and increment. And the state-owned capital operation is an important part of the state-owned capital management, then this paper based on domestic and foreign experience about the state-owned capital management, proposes to establish the new pattern of state-owned capital management: the state-owned capital management institution, the state-owned capital operation enterprises, the state owned completely or holding shares enterprises, which accords with the requirements of market economy, so that the value of state-owned capital could be preserved and increased. That is to implement budget management on the state-owned capital operation at former three levels.The budget management of state-owned capital operation relies on the property right theory, the agency theory, the state finance theory, the game theory and the capital preservation theory, which is a kind of constraint system among motivation-constraint systems by owners over runners. This article studies exploring contents, construction principles, and basic thoughts of the budget management of state-owned capital operation , and builds a system of rules of the budget management of state-owned capital operation to try to solve several major problems in theory and practice. This system includes several respects as following: the organization system of the budget management of state-owned capital operation, information management system of budget, and controlling system of budget, valuing system of budget and supervising system of budget.The implementation of the budget management system of state-owned capital operation also need interrelated accessory policies, such as fulfilling the equity earnings right of the state-owned assets supervision and administration commission, intensifying the fundamental management reform about present budget, creating a sound environment of law system and establishing the principal role of the state-owned capital investment.