On Enterprise State-owned Law And The Functions Of The Sasac Positioning The Transformation

State-owned enterprises (SOEs) are the basis of national economy, and the reform of SOEs is one of the most important reforms during the transform from planned economy to socialist market economy in China. Managerial system of stated-owned assets reform is playing the core role in advancing state-owned enterprises reform."The separation of state and shareholder" is the crucial concept of managerial system of stated-owned assets reform and SOEs reform. The importance and essentiality of the separation of state and shareholder was expounded here through analyzing the process of managerial system of stated-owned assets reform.State-owned Assets Supervision and Administration Commission (SASAC), founded in 2003, was a breakthrough of managerial system of stated-owned assets reform, giving the separation of state and shareholder guarantee from government. But there are still many problems in the managerial system according the managerial practice.a. The fail of the separation of stated-owned assets shareholder function and social public affairs management, which represents the ambiguity of institutional functions, causes SASAC undertaking the function of shareholder and supervisor, and shareholder lacking effective management methods.b. Corporate governance structure of SOEs in general are not perfect, there are internal control issues, and because of corporate property rights are not implemented, the responsibility of market economy is sometimes handed to government.The Law of the People's Republic of China on the State-owned Assets of Enterprises (LPRCSAE) began formal implementation on May 1st,2009. The introduction of this law filled the gap in state-owned assets legislation, in favor of operating a full specification of state-owned assets. It marked that "the separation of state and shareholder" goes to the advance stage. This law sets SASAC as a "pure" shareholder, which indicates the state-owned assets management system is going to on the path of separating the function of state and shareholder. There are a number of innovations and breakthroughs in this law, giving the legal protection for further reform. So, the progress of the separation of state and shareholder should advance under the instruction of LPRCSAE.On the base of referring foreign countries experience of stated-owned assets, the transform of SASAC function under LPRCSAE was put forward in this thesis:the function should be limited as pure shareholder, the institutional characteristic be special legal institution, the realm of operating be limited shareholder rights, operating method be property right management, institution culture be investing institution culture which is shareholder right oriented. At the same time, the cases of state-owned assets management are explored in the service of analyzing the puzzle and possible was of SOEs transition.