Establishment And Improvement Of China's State-owned Corporate Governance Structure Of Thinking

Since in China most of stated-owned corporations have been reforming in corporation mechanism and joint stock mechanism, building and improving legal person of corporate governance is becoming a more important issue. In order to make the state-owned corporations become modern ones of clear property, distinct right and duties, separated government and corporations and scientific management, and to make their reform break through the essence during the period of innovating the new mechanism ,I seek the concrete policies of building and improving legal person of corporate governance, based on practical situation of state-owned corporations in China and some theories and practice of corporate governance in west countries, in order to provide some lessons for economic system reform and economic law construction. Legal person of corporate governance is not only a legal issue but also an economic one .Therefore, the most important characteristics is my research method combining economics with laws .The theories and practices of legal person of corporate governance both derive from the West. In order to successfully transplant the mechanism from the West to China, the relations between absorption and abandonment should be dealt with. Therefore, comparative method is my second one. Theories derive from practice as well as guide them, especially in the economic field. Therefore, the third method is substantial proof combining theories with practice. The main body of the paper is made up of three parts: First, it expounds the common theories on legal person of corporate governance; Second, it analyses the present problems on it in China and emphasizes concrete policies on building and improving its' mechanism. Legal person of corporate governance is a systematic engineering in narrow and wide sense. The paper expounds the problems in narrow sense. Last, its key explanation is perfecting the balanced mechanism of allocated power within a corporations related to other policies. The paper first explains that playing the role of balanced mechanism is predicated on clear property and reasonable shareholder's stock ownership. Controlling internal control and adjusting the relationship between the three new economic departments and the three old governmental departments is an imperative problem in the process of implementing the balanced mechanism of allocated power. The problem is last expounded in the third part. The core of the third part is perfecting balanced mechanism of allocated power within a corporation, involving the AGM, the Board mechanism, Management mechanism and the Supervisory Board. The innovation of the paper is to make economic measures become legal norm during building and improving legal person of corporate governance. Enacting the law of state-owned assets management and revising company law is its concrete display.