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Study On The Legal Position Of State-owned Assets Supervision And Administration Commission In State-owned Business

Posted on:2015-12-13Degree:MasterType:Thesis
Country:ChinaCandidate:J L WangFull Text:PDF
GTID:2296330467451871Subject:Law
Abstract/Summary:PDF Full Text Request
During over30years of reform and opening up, China’s government has beenconstantly exploring the pathway and the mode of state-owned assets supervision topromote the security and the operational efficiency of state-owned assets. Since2003,the SASAC (State-owned Assets Supervision and Administration Commission) of theState Council and the SASAC at local levels have been successively set up. They arespecially responsible for the supervision of the SASAC. The managerial chaos ofstate-owned assets for a long time was ended. Then, the state successively formulatedand promulgated such laws and regulations as the Regulations on the Supervision andAdministration of State-owned Assets of Enterprises and the Enterprise State-ownedAssets Law, defining that the nature of SASAC is a special institution directly underthe government’s control and the SASAC has the responsibility of the investor ofstate-owned assets, authorized by the government. For example, it refers to exercisingthe shareholder’s duty in incorporated enterprises. However, in the practice, theSASAC also has the right of administration and supervision besides having thefunction and power of the investor, which is administrative. The differences betweenthe actual function and power and the right function and power lead to the commonphenomenon, like the dislocation, the offside and being not in place of the functionand power of the SASAC, which constantly causes disputes by scholars. The legalstatus of the SASAC directly influences the reform direction of state-ownedenterprises, the supervisory efficiency of the SASAC, the market economic order, etc.Therefore, it is necessary to further study it to promote the reform of the supervisorysystem of the SASAC and the reform of state-owned enterprises.This paper centre on the legal status of SASAC, firstly, it makes the analyzingcomparison and evaluation of SASAC power and relations of the relevant subjectsrespectively among solely state-owned corporation, the state-owned capital holdingcompany and the state-owned share company. In the solely state-owned corporation,SASAC has the real function of the board of shareholders, in the meanwhile, it controls the development direction of enterprise and the right of management with thehelp of executive power, the right of shareholders of SASAC is mixed up withownership: among the state-owned assets holding companies, the SASAC has acontrolling position, and the involvement of administrative power makes it has a verystrong shareholder status, and in most cases, the legitimate rights and interests ofother shareholders can not be protected properly: among state-owned capital sharescompanies, the SASAC does not have the advantage of controlling shares, but it stillcan control enterprises to some extent. Through comparative analysis, the authorthinks that, overall, among different types of state-funded enterprises, the SACAplays the role of both investor and regulator.And then, the paper refers to the rationality and problem of the current role ofthe SASAC. Under China’s current national conditions, with the aid of a certainpower, executive power helps the SACA strongly promote the reform of state-ownedenterprises. And But, due to the different natures and objectives between rights andadministrative regulation powers of investors, some conflicts and tensions appear inpractice, and the two functions of SASAC must be separated, and the institution’snature and legal status of it should be further clarified.At last, this paper points out that it is not suitable to be a investor from the aspectof members, management ability and risk tolerance of SASAC, and suggests that itshould be orientated as a regulator, and be responsible for state-owned assetsupervision specifically, and the investor is taken by state-owned assets managementcompanies. This can not only be in line with the reality of the situation and save costs,but also help improve the management relations, fully play the advantages of SASAC,and improve the efficiency of state-owned assets supervision.
Keywords/Search Tags:Sasac, Legal Status, Investor, Regulator
PDF Full Text Request
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