Study Of State-owned Enterprises Reform Of Property Rights

The reform of the state-owned enterprises (SOEs) has stepped into the key stage. One significant aspect of this profound reform is the reform in SOEs' property rights institution (SOEPRI). It is the key to determine whether the SOEs reform will succeed or not. Only after the SOEPRI reform is perfected can it be possible for people to revitalize the SOEs, exert SOEs' superiorities and improve SOEs' efficiency and competitiveness.This paper is aimed at the study of the complex SOEPRI. It takes the existing problems in the SOEs as its basis and the property rights reform as its thread. Firstly, it analyses the functions of property rights institution and the basic features of the SOEPRI according to the definition and components of property rights. Then it discusses the main contents of the SOEPRI reform which include distinctness, transaction, reconstruction, diversification of property rights and their respective realizing methods. Based on these, this paper mainly analyses the existing problems in principal-agent relations and constructs executive incentive and constraint models for the SOEs with Chinese characteristics. After that, the paper analyses the achievements of the SOEPRI innovation through the successful case of Xi'an First Printing Joint-stock Company. Lastly, it puts forward the problems to resolve in the SOEPRI reform.This paper has reference value to the SOEPRI reform in other SOEs.