| The primary task of the reform is business assets which will be stripped from the school and to form the university asset company. Schools set up assets management committee which exercise the shareholder rights and implement supervision to the asset company. The asset company is funded by the school alone, which means school is the sole shareholder, its function is to manage business assets of school. From this, it follows that the establishment of the asset company is not an end in itself, but to a form of management. University asset companies do not manufacture and management, through equity investment, it form college enterprise group. The asset company of university is the pure holding company. From a legal point of view, the asset company and constituent company both are legal persons independently. In most occasions, they are through equity ties to accomplish economic operation. They are each other’s Associate Company. Because the stocks control, financial supervision and personnel arrangement, the asset company gained control of the sub-company legally. Although the controlled subsidiaries with independent legal person qualification in law, but in the actual operation, its management must obey the university asset company which pay more attention to the interests of enterprise group. The controlled subsidiaries are in contradiction of legal independence and economic dependence all the time. The asset company is highly likely to abuse the control power, erosion independent personality of the controlled companies, damage the legitimate interests of the controlled in order to achieve the interests of the group in the operation. Therefore, the law has to regulate the behavior of holding company. The university asset company as a holding company, it should bear the duty of good faith on the controlled subsidiaries, not to abuse the control power engaged in trading that is not conducive to the controlled companies or take measures unfavorable of controlled companies. |
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