The Stady Abaout Investment Representative’s Asset Income Right Of The State-Invested Enterprises

Investment representative’s asset income right is the topic of discussion, the article studies four aspects that include object and scope of state-invested enterprises’ asset income right, determination of main body, theoretical basis of investment representative’s asset income right, shares and realization of investment representative’s asset income right. The article mainly solves two aspects that are determination of main body and realization of investment representative’s asset income right. The state-invested enterprises’ investment representative are governments at all levels, The State Council is the investment representative of central enterprises, The local government is the investment representative of local enterprises, SASAC is government’s institution that represents government to fulfill duty belonging to investor. As representative of state-owned asset owner and public interest, governments at all levels have the right to obtain asset income from state-invested enterprises on the basis of investment relationship. But this asset income right is different from general equity because of indirect distribution and profit sharing, as investment representative governments at all levels obtain profit from state owned holding company in accordance with the proportion of prior agreement, not obtaining profit from state-invested enterprises. At present, the legal norms about asset income right of investment representative are "The Central Enterprises Interim Measures For The Administration Of Collection Of Proceeds From State-owned Capital" and "The State Council Comments On The Implementation Of State-owned Capital Management Budget", according to two legal norms, there are many shortcomings, therefore, the article proposes specific measures that can guarantee assets income right of investment representative to be achieved. In order to guarantee assets income right of investment representative to be achieved, the proportion of profit should be increased, we should establish constrained system that can maintain value and increase in value of state-owned asset, perfect disclosure system in information of state-owned enterprises, establish constrained system that state owned capital expenditure originates state owned capital gains.