Research On The Legal Issues Of China's SASAC's Regulatory Orientation

The management of state-owned assets is an important issue for all countries in the world.China has the largest number of state-owned assets in the world.The state-owned assets is the foundation of the entire national economic system.Large-scale state-owned enterprises have played an important role.Therefore,for Chinese government,how to effectively manage state-owned assets and how to improve the safety and operational efficiency of assets have become researching issues.It can be said that the management level of state-owned assets reflects the level of state governance;the effectiveness of the reform of state-owned enterprises reflects the achievements of the reform of the national economy.In China,the State-owned Assets Supervision and Administration Commission(SASAC)is responsible for the supervision and management of state-owned assets.But its regulatory positioning has many problems now.As the investor of state-owned enterprises,the SASAC has obvious administrative features.While exercising the investor's supervisory power,it also exercises administrative supervisory power,which has caused many supervision difficulties.As far as institutional setting is concerned,only by having a clear positioning can the role of the institution be fully exerted.Therefore,only by specifying the SASAC's regulatory positioning can effective supervision of state-owned assets be achieved.On this basis,this article carries out research on the legal issues of the supervision positioning of the SASAC.Firstly,this article introduces the background,significance,methods of the research,reviews the literature,and explains the expected contributions.Secondly,it outlines the supervision of state-owned assets,elaborates the connotation of state-owned assets,and reviews the history of state-owned assets supervision.Thirdly,it analyses the current supervision position of the SASAC,discusses the legal basis and problems of the position of the investor and administrator,and explains the current regulatory dilemma.Fourthly,it uses a comparative research method,taking Temasek as an example Research on the management mode of Singapore's state-owned assets,focusing on the establishment of Temasek's background,management mode,and the enlightenment it brings.Finally,it puts forward ideas for the future regulatory positioning of the SASAC: transferring the investor position and undertaking the executive position.Generally speaking,this article mainly studies the legal issues of the supervisory positioning of the SASAC.Based on the analysis of the current SASAC's supervisory positioning and learning from Singapore's Temasek model,it proposes the idea of separating the SASAC investor's positioning from the executive's positioning,which can avoid conflicts caused by capital supervision and administrative supervision.The SASAC shall transfer the status of investor of state-owned assets,and the state-owned capital investment and operation company shall act as the investor,while the SASAC shall assume administrative supervision functions.