The Research On Functions Of The SASAC

State-owned assets management in all countries are important.Western capitalist countries in the Great Depression,especially after World War II into the Keynesianism,an increase of government intervention in the economy,and state-owned enterprises also increased.China belongs to the socialist country,the state-owned economy plays a leading role in the national economy,and the state-owned enterprises have great momentum.China's state-owned assets after half a century of reform,into the current SASAC management period.During the period of the SASAC,although it changed the shortcomings of the lack of unified management of state-owned assets,it has entered the system of state-owned assets.But there are still many contradictions in functional positioning.SASAC as a contributor,still has a strong administrative color,to fulfill the administrative functions,resulting in the SASAC function set up the following problems: the contradictions betweenthe investor functions of public authority and private rights;state-owned management has a Long-term agent chain;the contradiction between regulators and regulators.In terms of system setting,accurate functional positioning is a prerequisite for the role of the system.Only the state of the state-owned assets management position,in order to effectively play its state-owned functions.On the SASAC's functional orientation,there are four main academic theory: "big state capital" that requires the establishment of a state-owned system of a game of chess,a family of ideas,around the SASAC to establish the concept of large state-owned enterprises to promote the formation of large state-The State-owned Assets Supervision and Administration Commission of the industry,the state-owned enterprises will be the industry by the "industry SASAC" to fulfill the responsibility of investors,the implementation of the industry "full coverage".“Clean SASAC ”that the focus of the SASAC is the focus of investors,pure investors,clean investors,do not perform other duties;“Simple supervision” that the SASAC set up a special state-owned assets supervision and management of administrative organs The specific exercise of the state-owned companies to supervise the power.Four theories have their own advantages and disadvantages,simply use what doctrine does not meet the status quo of China's state-owned assets management.There are scholars sproposed SASAC should abolish the point of view,also have scholars support for the SASAC.Therefore,the author proposed to investors and regulators function separation path for the reform,in order to avoid the conflict between state-owned assets management and investment supervision.In terms of investor function,the financial crisis and selfish hypothesis as the starting point of the theory,learning from the company management theory,learning the Singapore Temasek model set up state-owned operating companies.On the function of regulators,I advocate SASAC as a simple supervisor,the SASAC is not directly involved in state-owned operations.Prior supervision includes the development of relevant administrative regulations and rules and regulations,the legal supervision of state-owned assets,the legal norms of the independent large state-owned assets of the company's board of directors to appoint relevant members of the board.After the supervision,learn from the Western "Company Law" of the rules of commercial judgment on the management of state-owned assets to determine the rationality.