Study On The Construction Of Trust Legal System Of State-owned Shares

To establish the modern enterprise system, the first step for our country is to transform some state-owned enterprises with a batter economic benefit into the joint-stock enterprises. As a result, state-owned enterprise system in our country develop gradually to modern enterprise system model dominated by state-owned shares, and the management of state-owned enterprises by our country changes from granting them franchises previously into managing the equity as a shareholder. It is a big issues for the state-owned enterprises that how to make the state-owned shares operate well and then preserve or increase the value of the state-owned assets. Country is an abstract concept, and could not exercise the state-owned shares itself actually. The state-owned assets supervision and administration is the nominal subject of exercise of state-owned shares. It could not to operate the state-owned assets directly because of its nature limited, and then try to exercise the state-owned indirectly. Through combining the trusteeship which has a mature development in Anglo-American countries with the need of indirect exercise of state-owned equity in China, this artical aims to explore the construction of trusteeship of state-owned equity, and providing a new way for state-owned shares exercise.The article is divided into three parts: the instruction, body and conclusion.The first chapter is the basic theory of state-owned shares. This chapter discribs the concept and connatation of state-owned shares. It suggest that double proprietorship and independense of property is the essential factor of state-owned shares.The second chapter is the research the necessity and feasibility to establish the state-owned equity system in our country. State-owned enterprise management in our country faced some problems, for example, the loss of state-owned assets, excessive administrative intervention in the exercise of state-owned equity, and so on. Therefore, it is necessary to establish the state-owned equity trust system to solve these problems better. Moreover, the continuously improvement of the legal system and theory of the trust made it possible.The third chapter is the key point of this article, about the inner legal relationship of state-owned equity trust system. In this article, the author suggests that state-owned equity trust is the system that in operating agency of state-owned shares for client, in trust institution with asset management capability for trustee, and the ultimate beneficiary is the country and all people. It also introduces the rules of establishing and effecting of state-owned equity trust in this chapter.The forth chapter is another key point in this article, that is the establishment of related legal system of state-owned equity trust. In view of the special characters and important position in national economy of state-owned equity, safety should be the primary condition of state-owned equity trust. This article suggests that we should establish the state-owned equity trustee system, and by the state-owned equity supervision and administration commission as a supervisor to improve the supervisory mechanism of state-owned equity trust. At the same time, we should establish state-owned equity trust registration system to ensure the safety of state-owned equity trading.