State-owned Assets Trust Management System Arrangement

This thesis mainly focuses on the problems of state-owned assets. The essence of state-owned assets management is to control property right. How to manage state-owned assets for improving its value and efficiency is studied in this thesis. It is divided into three parts: 1.The first part is the proposition of the question. The method of state- owned assets management we adopt today is principal-agent system which results in many drawbacks, embodied in: too much administrative interference, information asymmetry, policy-making slowly, etc. The reason why above-mentioned drawbacks produce lies in : ①The property right is unclear in definition; ②The current management style has institutional defects ; ③Legal system is imperfect.2.In order to overcome all above-mentioned drawbacks completely, trust system which has a lot of advantages is analyzed clearly and advocated in the thesis. As a matter of fact, it also has two obstacles for bringing trust system to state-owned assets management. One is the conflict between double ownership of trusts and basic idea of property by Chinese law. The other is deficiency of Chinese current law related to trust system.3.Therefore, the third part begins with solving the tow obstacles. For the first obstacle, the standpoint of the author is as follows: when the original theories appears the localization, maybe the best choice is to absorb the nourishment of British and American legal system positively. Once the obstacle on the idea is overcame, research comes to the step of designing the system. The basic structure of the thesis concerning the state-owned property management is: Being the trustee, the intermediate possesses the rights of property independently, conducting legal relations separately with the Committee on managing the state-owned assets and the Ministry of Finance . In this structure, the Committee plays the role of creator of trust and the Ministry of Finance plays the role of beneficiary, and thus the intermediate is put in the most important position so that the system design is mainly around trustee, including the selecting system of trustee, the right and duty system of everyone concerned in this structure, the controlling system on trustee's power, and the coordination system like registration.The main contributions of this thesis lie in three aspects: a novel study perspective; some creative standpoints and some breakthroughs on theories. In brief, the system design with the trust principle and the characteristics of state-owned property manage, can be said to be the most important contribution of this thesis.