On The Legal Application Of The Two-tier Ownership Structure In The Reform Of State-owned Enterprises In My Country

The dual class equity structure is in relative to the equity allocation mode of the single equity structure under the principle of one share in the traditional corporation law of China.To put it simply,a dual-class equity structure is a shareholding structure with different voting rights.It is a method that can effectively control the company.Although the dual shareholding structure has not been explicitly stipulated in our country,it has been used widely and mature abroad.Many companies such as alibaba and jd.com have also adopted the model to go public in the United States.Since 2013,when China began the reform of state-owned enterprises and clear the mixed ownership enterprises become the second important breakthrough of the reform of state-owned enterprises,all over the country all are clear about the schedule and the goal of the reform of state-owned enterprises.The guiding opinions on deepening the reform of state-owned enterprises issued by the CPC central committee and the state council in 2015 clarified the important areas and key links of the reform of state-owned enterprises.On April 21,2018,the state-owned assets supervision and administration commission of the state council research center released the "2018 China's state-owned assets reform and development report",the report points out that the mixed ownership reform option investors is open,and protect the interests and rights.I thinks that the dual class share structure fits the needs of China's soe reform.Because the reform of mixed ownership will make the state-owned enterprises face the dilemma of continuously joining the investors and diluting the proportion of the state-owned shares and the necessary control of the state-owned enterprises such as the state should obtain social services.The application of double-level equity structure can balance the two and have special significance.This paper starts with the connotation and basic characteristics of double ownership structure,probes into its legal theory and deep meaning,and then introduces the nature of state-owned enterprises and the development of state-owned enterprises reform in recent years.This paper analyzes the problems and difficulties in the process of state-owned enterprise reform in China,and then expounds the feasibility and advantages of the two-tier equity structure in solving the above-mentioned problems.Finally,the paper discusses the concrete system design of introducing double ownership structure into state-owned enterprises,and further puts forward legislative suggestions to perfect the supporting system of double ownership structure.