On The Construction Of New State-owned Capital Supervision System

The reform of State-owned Assets Supervision System has become a focus as the beginning of a new round of State-owned Enterprise Reform.Nowadays' system started when State-owned Assets Supervision and Administration Commission(SASAC)was set up in 2003.As the development of economics and society,the model of "supervise managers,supervise Specific issues,supervise assets" has showed quantity of disadvantages.Laws don't have a clear definition of State-owned Assets,and in laws and Regulations,different concepts about assets were being used at the same time.SASAC hasdeviated its original design and has a dual identity of Regulators and State-owned investor,which make it supervise too many Specific issues on State-owned enterprise,using Administrative measures.At the same time,there still exist some other ministries and commissions who hold and manage their own State-owned enterprise.This paper used the method of comparative analysis and normative analysis.Beginning with the history of State-owned Assets Supervision,I analyzed problems of system in operation,researched models aboard and had a conclusion of common characteristics and lessons.In the perspective of shifting the model from "supervise assets" to "supervise capital",I gave some advises about how to build the "three layers covered all three kinds of State-owned Enterprise" system.SASAC in future will still be a supervisor but based on its identity of State-owned investor,and will focus on drafting Regulations and adjust the strategic structure of state-owned capital.Meanwhile,SASAC will also be the investor of State-owned Capital Investment Company and State-owned Capital Operation Company only,erasing nowadays'method of Administrative supervision.Set up State-owned Capital Investment Company and State-owned Capital Operation Company,and make their modern corporate governance structure perfect.This two kinds of companies will be given different tasks,but their common mission are both supervising State-owned Enterprise according to the features of their industries,following the principle of<Company Law>,to pursue the final goal of enhancing State-owned enterprises operating efficiency and achieving the efficient operation of State-owned capital.