On The Legal Problems In The Transfer Of State - Owned Stocks

State-owned equity is the main form in which China’s state-owned assets exists at the present period, and is a new type property right. State-owned equity transfer is the necessary requirement for optimizing resources allocation, readjusting industrial structures, strengthening enterprise vigor, consolidating and developing the state-owned economy. With the speedup of China’s state-owned enterprises reform and restructuring and the structural readjustment pace of economic layout, the State gradually relaxes restrictions on state-owned equity transfer, state-owned equity transfer activities have increased obviously. The implementation of the Enterprise State-owned Law of the People’s Republic of China in 2009 has provided legal basis for China’s state-owned equity transfer. But at present, there are still a lot of problems in the practices of China’s state-owned equity transfer. The equity transfer dispute case in which Chen Fashu sued Yunnan Hongta Group Co., Ltd is a typical one, and the problems exposed in this case, such as the position of state-owned assets regulatory institution is unclear, transfer information disclosure is insufficient and incomplete, and transfer procedure is not regulatory, should attract high attention of China’s legislation institutions and state-owned assets regulatory institutions..The main structure of this article consists of a total of three chapters. Chapter One provides an overview introduction to the concept, features and categorization of state-owned equity, clarifies the meaning and aim of state-owned equity transfer, and briefly summarizes the basic procedure for state-owned equities of listed companies to be transferred through transfer agreement in accordance with the stipulation of the Provisional Regulations on Management of Transfer of List Companies Shares Held by State-owned Shareholders, and on this basis, expects to go deep into the analysis of problems existing in China’s state-owned equity transfer. Chapter Two briefly introduces basic details of the equity transfer dispute case in which Chen Fashu sued Yunnan Hongta Group Co., Ltd, and main problems exposed in this case, and through analyzing the basic details of the equity transfer dispute case in which Chen Fashu sued Yunnan Hongta Group Co., Ltd and China’s current legal systems on state-owned equity transfer to put forward main legal problems existing in China’s state-owned equity transfer. Chapter Three uses the study method of comparative jurisprudence to compare and analyze the systems of the U.K. and France on state-owned equity transfer, finding the systems and experiences of these countries on state-owned equity transfer can be learned by China, and on the basis of learning from foreign systems and experiences, has put forward plan proposals to respectively solve the problems found in Chapter Two, expecting to be somewhat helpful for regulating China’s state-owned equity transfer.Conclusion, the author looks forward to the progress and development of legal protection on state-owned equity transfer in China. As a type of special trade form, state-owned equity transfer necessarily has its disadvantage, we cannot negate it because of this, instead we should continually perfect it on the basis of learning from foreign success experiences, and believe state-owned equity transfer will have a good future in a new round of state-owned enterprise reforms.