Legal Analysis Of The Operating State-owned Assets Managed

Productive State-Owned Assets are the main body and the most active, vital part ofstate-owned assets (SOA) in China. In current system of SOA's supervision andadministration, the state-owned supervision and administration commission of the statecouncil (SASAC) and the same institutions of local governments are representativesof the State respectively. They perform as the owner of SOA and exert the ownership.Maintenance and Enhancement of the value is the primary objective and centralrequirement for productive state-owned assets, so new methods of management areneeded. Trusteeship of productive state-owned assets is an exploration of suchmanagement modes in the new background. This thesis pays attention to and analysesthe trusteeship of productive state-owned assets which is still in experiment stage toreveal the legal perplexity of the system, finds out the connotative legal orientation,discusses the legal relation based on such orientation and point out the obstacle andsolution both in law and practice. Sequentially it will show a path to definite propertyrelations and to obtain effective legal protection.Chapter 1 analyzed the ownership and subject of the right of productivestate-owned assets monitored by the state-owned supervision & administrationcommissions, then probed into the vague legal position of such governmentalinstitutions and state-owned asset operating organizations. This part is the basis offollowing argumentation. From the comparison between trusteeship in the new systemand enterprises trusteeship in past SOA reform, the author got the conclusion that theaim and value of trusteeship needed further exploitation , meanwhile the system wouldencounter unavoidable legal perplexity.Chapter 2 discussed approaches to deal with the legal perplexity in trusteeship ofproductive state-owned assets, namely to restore the legal character of trusteeship—trust.Trust is the jurisprudential foundation of trusteeship system. Based on this opinion, thethesis analyzed the harmony and superiority both in basic conception and function if weapply the trust system in management of SOA.If the essence of trust for productive state-owned assets was accepted in theory,there must be research on legal effect of trusteeship, subjects in legal relationship oftrusteeship, rights and obligations among the subjects. It is also necessary to treat of theexterior legal relation from trust perspective. It is the main contents of Chapter 3 toanalyze these problems on the basis of principles of trust law and trust law provisions ofChina. In this part, the thesis explained the difference between trusteeship of productivestate-owned assets and common civil or business trust, in order to estimate thefeasibility of the system in trust categories.Based on foregoing analysis, Chapter 4 probed into the legal and practicalobstruction that the trusteeship of productive state-owned assets may encounter, thenpointed out the support and insufficiency of legal system supply. Finally, the thesis gaveadvice to build an exterior supervision and administration system and provided someideas to improve and ameliorate the approach.The major points of view of this thesis are as follows: Trusteeship is fit to apply inmanagement of productive state-owned assets on competitive markets. However, toinstitutionalize and legalize the design is necessary if we want to take full advantage oftrusteeship and improve its efficiency of operation. To confirm the trust relation oftrusteeship is essential for building up legal system of trusteeship that should be base onexisting legal resources and special laws and codes for productive state-owned assets.