On China's State-owned Enterprises Reform Of Property Rights

The reform of state-owned enterprises has undergone more than 20 years since 1978, during this period ,it experienced three reformation stages including the stage of "extending the right of enterprise independence", the stage of "enterprise contract system" and the stage of "establish the modern enterprise system". However, the low efficiency problem of state-owned enterprises can't be solved due to ambiguity of property right. At present, a few breakthroughs have been achieved both in theory and practice, but there still exist many problems. This essay tries to probe how to reform the state-owned enterprises from the point of property right. The main points are as follows:The first chapter of this essay is to develop Marx's theory of property right through drawing scientific contents from the theory of western enterprises' property right which reflect the general rules of modernized production and market-oriented economy while sticking to the standpoint of Marx's theory of property right and to build up a theoretical foundation for the reform of property right of our state-owned enterprises.The second chapter of this essay summarizes the deficiencies and drawbacks of the property right system of state-owned enterprise in our country systematically. The deficiencies are as follows: only to consider itis important to ensure the implication of planned economy without being disturbed; only to carry out such manage pattern that prevent the public assets from losing; to carry out such method that the functions of the government and enterprises mixed up, enterprises support all things. The deficiency mentioned above resulted in many drawbacks, such as the e owner absent and owner over managed, the great risk of trust and agent, the conflicts between government objectives and enterprise objectives.Firstly, the third chapter of this essay reviewed the process of property right reform of our state-owned enterprise, let us know the process and which stage we reach. Then the chapter analyzed the present situation of our reform. By analyzing, we find that there exist three problems: the fist one is the imperfection of trust and agent mechanism of property right in state-owned enterprise; the second one is poor arrangement of property right structure in state-owned enterprise, mainly reflects in the gradually reduced power of board of shareholders and board of directors; the third one is the influence of transference of property right and the low level of property right marketization.The fourth chapter of this essay further probes how to enhance and perfect the reform of property right in state-owned enterprises in practice. Mainly probe from the following three aspects: the first one is to deep the reform, keep the owner in position; the second one is to prevent "internal control" through realizing the multiplicity of property right in stat-ownedenterprises; the third one is to establish an effective market tradingsystem of property right, to enhance the exchange power of state-ownedCapital.