The Study Of Legal Issues Of Management By Trust For State-owned Capital

Ever since the founding of New China,especially after the reform and opening up,China has accumulated plenty of state-owned assets.Due to the particularity of the subject,state-owned capital management was entrusted with the duty of realizing appreciation and hedging,as well as providing public goods and services for the society.Therefore,how to establish scientific and effective mode of state-owned capital management has become an obstacle hampering China's economic growth,while the current capital management practice is also troubled by problems including excessive administrative intervention,loss of state-owned assets,imbalanced internal governance structure of companies.In response to these problems,the mode of state-owned capital trust management was put forward,moreover,problems that may occur in the process of applying trust system to sate-owned capital were also analyzed,in the expectation of achieving the dual guarantee of safety and efficiency for sate-owned capital with the help of the trust system centering around “dual ownership”,to further enable state-owned capital to give full play to its due value and effect.Based on problem-oriented thinking,the text is divided into four parts according to the layout of progressive relationship among problem raising,analysis and solution.The first part is the general theory of state-owned capital trust management.Based on the brief introduction about the development history of the mode of state-owned capital management and the opinion of dividing state-owned enterprises into two categories as business and public welfare set forth in the Directive Comments on Deepening the Reform of Sate-owned Enterprises,it puts forward two ways of trust applicable to equity trust and business trust respectively,which can be addressed through introducing trust system,and eventually,the conclusion is drawn that introducing trust system is necessary to build the mode of state-owned capital management.The second part is the empirical study on state-owned capital trust management.Centered around the feasibility of trust operation of state-owned capital,this part introduces the existing problems and defects of the current management mode and the trust management practice of state-owned capital,and probes into existing problems.It believes that,the practice of state-owned capital trust system in China is featured by spontaneous creativity,and can be further developed and improved from the perspective of Trust Law to achieve the objective of state-owned capital trust management.The third part is the legal elements of state-owned capital trust management.This part analyzes problems regarding the nature of trust contract,the subject and object of trust that may occur during the establishment of state-owned-capital trust.In addition,the management mode of sate-owned equity trust system is also built preliminarily.The fourth part includes the mechanism to protect the beneficiary of state-owned capital trust.In view of certain potential risks in the trust system and the intention to protect the rights of the state as beneficiary against infringement,it defines the trustee's obligations and beneficiary's rights in the trust relationship from the perspectives of prior prevention and afterwards relief,through integrating relevant regulations of Anglo-American Trust Laws and with the particularity of the subject of sate-owned capital,thus to prevent the realization of trust objectives from being interfered by risks within trust.