Trustee Of The State - Owned Capital Operation And Trust In The System

As a system which means property transference and management, trust provides another path of state-owned capital operation. In the trust relationship, trustee is the most important party, which beneficially relates to achievement of the objectives and the success or failure of trust operation. Many scholars have detailed exposition with the original insights on the trust system of state-owned capital and general trustee legal system. But trustee institution of state-owned capital is rarely discussed. Trustee of state-owned capital is different from general trustee on value orientation of system construction. Therefore, it is necessary to research trustee institution of state-owned capital to resolve its defects. Based on the theoretical and practical value of trustee institution of state-owned capital in the state-owned capital operation, the author selects this topic.The author discusses subject qualifications, rights, duties, responsibility system and other related support systems of trustee of state-owned capital by means of empirical study, comparative analysis, deductive method and economic analysis in this paper. Finally, more specific legislative proposals have been made on the imperfections of trustee institution of state-owned capital. "Preserving and increasing value of state-owned capital" is the main line of this paper. It embodies "security and efficiency" in value orientation of trustee institution of state-owned capital, "trustee's subject qualifications, rights, obligations and responsibilities" in basic institutional framework, "the risk of trustees and bankruptcy-remote control system, trust publicity system and so on" in the related system. There are about 30,000 words in this paper. The text is divided into four parts:The first part talks about the role of trustee of state-owned capital trust operation. The essence of trust is isolation of trust property on the "right" and "profit". "The right" attributes to trustee, and "the profit" attributes to beneficiary. This essence impacts on the independence of trust property. Once a trust is once established, the trust property is "closed" and isolated from the outer." Preserving and increasing value of state-owned capital" is one of the basic characteristics of state-owned capital. It is also the purpose of state-owned capital trust. The role of state-owned capital trustee in state-owned capital operation reflects in three areas: At first, State-owned operators will have truly rights to make their own decisions, and it contributes to the achievement of separation of government and enterprise. Secondly, it can avoid the loss of state-owned assets and contribute to the achievement of preserving value of state-owned capital. Finally, it can improve operational efficiency and contribute to the achievement of increasing value of state-owned capital.The second part discusses basic content of trustee institution of state-owned capital. The trust legal relationship is the core issue of trust law. Considering institutional construction of trustee institution of state-owned capital, the author elaborates subject and content of trustee legal relationship. State-owned capital trustee should be professional trust and investment companies. By comparing two Schools and combining the status quo of Chinese state-owned capital operation, the author has summed that state-owned capital trustee has the following rights: right to manage trust property and trust affairs, right to request reimbursement, right to request compensation, right to resign. Trustee has faithful and cautious obligation. In the analysis of the responsibility of trustee, the author divides the responsibility into internal and external one. In order to ensure trust operate safely and efficiently, it also needs some relevant supporting systems. Thus the author elaborates the representative parts on risk control and bankruptcy isolation system of trustee, and trust publicity system.The third part analyzes the problem of trustee system of state-owned capital. In light of Chinese current situation of the trust legislation, the author believes that trustee system of state-owned capital has the following defects: For the provision of subject qualification of state-owned capital trustee is vague, specific provisions should be made on access conditions and selection methods of state-owned capital trustee. Value orientation of trustee system of state-owned capital is single. The value orientation should be changed from "emphasizing safety and neglecting efficiency" to "focus on safety and consideration of efficiency". For definition of trustee rights, obligations is too general and abstract, trustee's responsibility system and other related support system is not yet fully established, this is not contribute to the achievement of purpose of state-owned capital trust. It should be taken measures to improve trustee system of state-owned capital.The fourth part proposes how to improve trustee system of state-owned capital. In order to select the best interest trustee of state-owned capital operation, the author proposes that selected standards, procedures and the results of state-owned capital trustee should be public. It is established a system of trustee's rights, obligations and responsibilities by the value orientation, which is "focus on safety and consideration of efficiency". That is moderate expansion of state-owned capital trustee's rights; a clear definition of state-owned capital trustee's statutory obligations and standards of conduct; establishment of state-owned capital trustee's responsibility system; improvement of relevant supporting system of state-owned capital trustee.