Study Of State-owned Property Transactions Legal System

The concept of property right was first put forward by Ronald H. Coase , an American economist, which has been widely used in many fields. Though a lot of economists and jurists had deep discussion on property right, no uniform definition was formed. With the reform of state-owned enterprises and the establishment of socialist market economic system, the transaction of state-owned property rights of enterprises in China has been brought about. The property rights exchange market, serving the transaction of state-owned property rights of enterprises, is a sort of unique economic phenomenon in the period of economic shifting, and it is capital market with Chinese characteristics, with no lessons drawn from foreign country. Both the transaction of state-owned property rights of enterprises and the construction of property rights exchange markets have some birth defects, because of restriction factors, such as level of cognitive awareness, current system, law-making and departmental benefits. For it was not long time after the establishment of market economic system, we do not have deep and clear understanding of various factor markets in market economy, property rights exchange markets in particular, and do not have enough practice for the basis of improvement of the legal system. Therefore it will take some time to enact uniform legal system for property rights trading, and to establish property rights exchange market. However, from my point of view, it is necessary to take it into consideration. The present legal system for the transaction of state-owned property rights of enterprises should be improved, and meanwhile, put it into uniform legal system for property rights transaction.In addition to introduction and epilogue, the paper consists of five chapters which its main contents are as follows. Chapter one is about theoretic basis for the research on legal system of the transaction of state-owned property rights of enterprises. It analyzes the fundamental characteristics of both property rights and its transaction, and elaborates particularity of the transaction of state-owned property rights of enterprises, through analysis of the concept of property rights and different views in jurisprudential circle on the character and connotation of property rights. In this chapter, it puts emphasis on elaboration of the relation between property rights transaction and multilayer capital markets, and the relation between the transaction of state-owned property rights of enterprises and the transfer of state assets of enterprises.Chapter two reviews the headstream of the system of the transaction of state-owned property rights of enterprises. It analyzes the relation between the transaction of state-owned property rights of enterprises and the reform of state owned enterprises in detail, on the basis of analysis of the earlier stage of the reform of state-owned enterprises, the establishment of juridical person' s ownership of property, the reform of the system of state-owned property rights of enterprises, etc. Based on the analysis, I think the conditions for the transaction of state-owned property rights has been created by the reform of state-owned enterprises.Chapter three analyzes the generation, development and reform of state-owned economy in western countries. It introduces the situation and the characteristics of the legislation of state-owned property rights transaction in several western countries. Furthermore, it analyzes apocalypses in the aspects of the reform of state-owned economy, the legislation on property rights exchange, the supervision of property rights exchange market, which we can learn from the system of state-owned property rights transaction in western countries.Chapter four elaborates the current situation of the legislation and practice of state-owned property rights exchange, based on the overall objectives of establishing socialist market economic system and the historical background. It points out some issues existed in such aspects as the starting point, the hierarchy the system of legislation. It also analyzes some restriction factors existed in such aspects as the awareness, legal system, supervision and operation in property rights exchange markets, and probes into the system, contents and defects of the legal system of the transaction of state-owned property rights of enterprises.Chapter five analyzes where the transaction of state-owned property rights of enterprises should be heading for on the basis of the analysis of the preceding chapters. Based on the market-driven, it also intents to build uniform legal system of property rights transaction. In addition, it puts forward establishing uniform and orderly property rights exchange markets in conformity with the legal system of property rights transaction and the existing resources, in order to perfect the present legal system of the transaction of state-owned property rights, and with gradual development, put it into uniform legal system for property rights transaction.