Research On China’s State-owned Financial Assets Management Mode From The International Perspective

In recent years, with the advance of China’s opening up and socialist modernization construction, China’s financial industry has played a significant role in supporting the development of the real economy, guiding the capital flow and optimizing the allocation of resources. Also, the financial industry has got a more and more important position in China’s national economy. As for the property right structure of China’s financial industry, the state-owned proprietorship accounts for quite a large proportion. Speaking without exaggeration, the state-owned financial assets act as the backbone of China’s whole financial industry. However, the current state-owned financial assets management system is laden with problems, such as legislation blank, the obscureness of representative of investors, inefficient isolation of state functions as investors and public managers, unreasonable incentive and restraint mechanism and so on. These problems have seriously restricted the government’s overall arrangement of the whole financial industry, the maintenance and appreciation of the state-owned financial assets and growth and expansion of state-owned financial enterprises. It is clearly put forward by the CPC central committee in the12th five-year plan that we should endeavor to perfect the state-owned financial assets management system and the local government financial management system, from which we can see that the perfection of the state-owned financial assets management system has been highlighted from a new strategic perspective. And actually it is extremely urgent for our country to launch a reform on the current state-owned financial assets management system and establish a new one which is more suited to China’s reality. Accordingly, it has great practical significance to do a research on China’s state-owned financial assets management system.Based on the theories of Public Goods Theory, Principal-Agent Theory, and Rent-seeking Theory, the thesis does a deep analysis on China’s state-owned financial assets management system historically and realistically, and what’s more, it also effectively combines other countries" precious experience in this area and thus gives several proposals, suitable for the trend of financial industry in the post financial crisis era, for the system reform.Nevertheless, for the limit of knowledge, time and energy, the author proposes more suggestions in the macro level than detailed steps of implement.