The theory and practice of state-owned enterprises reform of property rights

[Abstract]:

In this paper, the traditional state-owned enterprises after the founding of New China, the formation of the management system, analysis of why the lack of efficiency of the traditional state-owned enterprises. Then discusses the four stages of the reform and opening up in China after the reform of state-owned enterprises: the devolution of power to the full implementation of the contract responsibility system, the conversion business detailed analysis of the mechanism and the establishment of a modern enterprise system, establishing a modern property rights system. modern enterprise system and the content of modern property rights system and associated, as well as the significance of establishing a modern property rights system. combined with practical, given the deepening reform of a modern property rights system, promote enterprises to establish a standardized modern enterprise system.

[Keywords]: the traditional state-owned enterprises, the reform of the modern enterprise system, a modern property rights system

[Body]:

After the reform and opening up, China's state-owned enterprise reform has undergone

(A, Phase I: devolution of power (1978 to 1986).

In July 1979, the State Council decided to expand the autonomy of state-owned enterprises, the implementation of profit retention, the introduction of a fixed asset tax, depreciation rates, improved depreciation methods for using and full credit to implement liquidity requirements place to select a small number of pilot enterprises in accordance with the scheme under a unified April .1983, the state-owned enterprises implement the first step in turning profits into taxes, the main contents are: where the profitability of state-owned large and medium-sized enterprises, according to the realized profit, subject to income tax rate of 55%, part of the after-tax profits turned over to the state, part of Friuli level approved by the state to leave the business in October In 1984, the state has conducted a second step of import substitution to the tax on behalf of Lee co-exist to complete the first step Shuili enterprises pay income tax, and then the different levy adjustment tax May 1984, issued by the State for China >> << About Interim Provisions of the autonomy of state-owned enterprises to further expand, extend the provisions of the 10 corporate autonomy: the right to production and operation plans, product marketing rights, product price weights, materials Option bonuses right to use and co-operation rights.

(II second stage: the full implementation of the contract responsibility system in 1991 (1987.

Began in 1987, according to the principle of separation of ownership and management in state-owned enterprises in the full implementation of the various forms of contract responsibility system by the end of 1987, the budget for state-owned enterprises in the country has 78% of the implementation of the contract system, the large and medium-sized enterprises reached 80% of the contract system, the basic principle: "package dead cardinality turned over overpaid divided into poor harvests self-complementary contracted form of the following: First, two packets of a hanging, package turned over profits, package technology reconstruction project, the total wages with profits and taxes paid hook, profit remittances increments lump sum, is turned over to the profits in lump sum, overcharges proportionate sharing of Fourth meager profit, loss-making enterprises profit lump sum or lump sum loss, five industry input-output total lump sum .

(The third stage: change their operating mechanism and the establishment of a modern enterprise system (1992-2003.

Southern speech in 1992, Deng Xiaoping and the 14th Party Congress, China's state-owned enterprise reform also will enter a new stage, that change their operating mechanism and the establishment of modern enterprise system stage.

The 14th Party Congress clearly stated, the goal of China's economic reform is the establishment of a socialist market economic system, and asked around the original meaning of the establishment of the market economy system in society, to accelerate the pace of economic reform in November .1993, the party's 14th session of the Third The plenary session adopted a the << >> decision on the establishment of a socialist market economy, a number of issues, put forward the objectives of the reform of state-owned enterprises in China is to establish a modern enterprise system, the modern enterprise system and summarized as to adapt to the market economy and the large-scale socialized production requirements, clearly established property rights, separation of enterprise management science enterprise system requirements through the establishment of a modern enterprise system, to enable enterprises to become autonomous, self-financing, self-development, self-restraint of legal entities and market competitors.

(IV Phase IV: the establishment of a modern property rights system (since the Third Plenary Session of the Sixteenth CPC Central Committee.

Since the 15th CPC National Congress, China's state-owned enterprises reform work is mainly done three areas of work first, solve the historical burden, the burden on the social aspects, including personnel, debt and corporate office for enterprises to enter the market and create the external environment, including propulsion separating government administration from enterprise management, the establishment of a social security mechanism to actively promote the reform of property rights system, the establishment of a modern enterprise system in these three areas, the reform of state-owned enterprises should be said to have achieved certain results. future after years of reform, the reform of state-owned enterprises are still facing a very difficult task, the reform of state-owned enterprises are still in a critical stage. Why? Party's Third Plenum of the current institutional environment made three o'clock summarized: First, the socialist market economic system has been basically established, which means that the market role in allocating resources has accounted for the dominant position weakened, the Government's role in allocating resources and control of the business, the second is the basic socialist economic system has been basically established, the government has been impossible for the state-owned enterprises re-creation of a special policy environment, we can only compete on an equal footing., all-round, wide-ranging, multi-level opening pattern has been formed, the competition in the market by the domestic expansion International, these deep-seated changes in the deepening reform of state-owned enterprises, while state-owned enterprises outside the institutional environment of profound changes, forcing the state-owned enterprises reform should advance with the times, and win the final battle.

Second, the modern enterprise system and the contents of its associated modern property rights system

"Fifteenth of the party since the reform of state-owned enterprises in accordance with the advance and retreat, some do certain things to adjust their thinking, take various forms and guide enterprises to establish a modern enterprise system, and yielded good results. Party XVI The Third Plenary Session << >> was first proposed property rights is the core and main content of the ownership, to establish clear ownership and responsibility, strict protection, and the clear demands of the the smooth circulation modern property rights system. new concept of modern property rights system , the new requirements of the new specification, to re-examine, evaluate the gain and loss of state-owned enterprises reform, it is very necessary and urgent things reason, one new property rights theory is not yet enough to arouse our attention, some of our comrades still holding outdated "Huang Li" When management says, the corporate governance structure of the large and medium-sized state-owned enterprises is very irregular, SMEs reform there are still a number of irregularities in the structure of property rights and disposal view of the CPC Central Committee proposed a modern property rights system accelerate China's economic reform and improve the basic economic system, to optimize the development of socio-economic environment and market order is very important guiding significance, therefore, the combination of the strategic adjustment of the economic structure and the reform of state-owned enterprises to conduct in-depth case studies, useful practical significance thing.

(A modern enterprise system, the basic content

The modern enterprise system is the contemporary enterprise system prevailing norms the Third Plenary Session of the 14th Party Congress decided to >> the modern enterprise system is summarized as "clear property rights, power and responsibility, separation of enterprise from scientific management" in the following words It includes four aspects: First, the nature of their vested property rights must be clear, from the assets of the separation of ownership and management rights and establish a standardized corporate governance structure, clear responsibilities the government to change its functions no longer directly manage and intervene in corporate affairs, the four companies through the implementation of scientific management of its own operations, to continuously improve the level of business management. then, sixteen of the CPC Central Committee proposed the modern enterprise system word standard for the reform of state-owned enterprises, because only the state-owned enterprises will have a "separating said.

(B basic modern property rights system

The modern property rights system is compatible with the large-scale socialized production and the modern market economy, property rights system. Decide the party's third plenum << >> be summed up as "clear attribution, clear responsibilities, strict protection and smooth transfer" in the following words, including four aspects: First, the "vesting" is no longer a single narrow ownership of clear ownership, the modern enterprise system, clear property rights, but rather refers to the ownership in the broad sense of ownership, possession right to use, clear dominance, and is identified by the relevant laws and regulations. second is the the subjective right place concrete realization of property rights, the responsibility to implement clearly defined powers and responsibilities clearly defined property rights subject property can do, you can not what to do, and the obligations and responsibilities. maintenance on the relationship between ownership and "strict protection" relationship between ownership and create a force constraint rules need to pass laws to institutionalize various properties of various forms of property rights shall be subject to the strict protection of the law. Fourth, the allocation of property rights to the smooth circulation guarantee of property rights has the power to configure their rights in accordance with their own wishes, according to the law to flow freely in the market, and effective operations.

(C, a modern enterprise system, and the similarities and differences of modern property rights system and interrelated

⒈ former is merely an enterprise system, including property rights in the process of business survival activities and operations management, the latter under the conditions of the market economy norms legal system of property rights and institutional requirements of the general term includes only property activities content.

⒉ former "clear property rights, clear responsibilities" and the latter "vesting clearly established" that covered roughly the same meaning, but the latter has expanded in scope. The same time, which in turn increase the contents of the property protection and flow.

The link between the two can be summarized as a modern property rights system to determine the characteristics of the modern enterprise system, is the cornerstone of the modern enterprise system.

Third, the significance of establishing a modern property rights system

(A modern property rights system is the driving force behind the establishment of efficient economic system

We know that the government reform the functions of the authority of government homing is not an easy thing. Handled properly, is prone to "Incomplete Property Rights" How can a property rights protection and enforcement? Only realistic approach is to be protected by the state and the mandatory implementation. Thus, property rights has left the country's violence and monopolies it is impossible to obtain a valid implementation. however, the introduction of the country but very easily lead to the regime in violation of property rights, resulting in the "ownership incomplete property rights, both can not be separated from political power at the same time but vulnerable to the government harm to the so-called" ownership paradox "(Zhou Qi Ren, 1994." ownership of a vicious example of the paradox ", that is, Northrop repeatedly invoked lawlessness monarchy under the rule of Spain, due to the royal property rights infringement, led to the bankruptcy of exactions and continuous, long-term economic depression.

From the situation of China's reform and opening up, the government has been advancing toward the protection of property rights, China's state-owned enterprises experienced factory manager responsibility system, the contract system, and finally in the 1990s into "some things" the new reform realm, and vigorously implement the transformation of the governance structure. China's private enterprises in the history of the "red hat" in the late 1990s finally shyly pluck a red hat, but also private companies true colors until now, the central document clearly shareholding system is the main form of public ownership, and clear establish and improve a modern property rights system, in fact, has been open for change and development of the private sector and state-owned enterprises fully channel.

Then what is the reason and power of economic reform it? Also that the competitive pressure. Including the world, especially the neighboring countries of competitive pressures, and local governments competing pressures faced by the Central Government. Professor Zhang Weiying paper with Chinese state-owned enterprises in the 1980s privatization reform History has proved that China's reform started in decentralization, decentralization leads to competition, competition has led to the transformation of property rights (privatization This indicates that the pressure of competition is how to lead the state-of-the-art system of property rights is a choice.

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In place of property rights can only be a The regime without crossing the line, the product under a good bit of modern property rights movement that "privatization" as well as the accompanying market movement just continuous relaxation of government control movement, while the movement Schema is not limited to China, we can also see the illustration in the international arena.

The United States, for example in 1950, the U.S. economist George J. Stigler (GeorgeJ.Stigler, 1950 on the painted similar to the American version. << By monopoly and oligopoly Road - Mergers >> article, he first noted that the U.S. mega-corporations, not by some degree, a certain way of mergers and grew up, however, this industry already has a make aimed monopolistic mergers profitable conditions for the merger movement in the United States have long shall not occur, because the full development of modern companies and the development of modern capital markets "due to the limitations of general corporate law already existed before the Civil War and not more direct said competition between the U.S. states, and ultimately in the 1980s, leading to "New Jersey has launched a interstate competition to attract capital to Honshu, the founder of the company, this competition in 20 years almost wiped out mergers limit. "At the same time, the New York Stock Exchange has also developed into a very efficient industrial securities market," institutional change seems to be the direct cause of the development of the last 20 years of the 19th century merger movement. "(Stigler, 1950

Established according to the the analysis schema from Stigler to Weiying modern property rights system, as long as there is competition intergovernmental institutional change (including changes in property rights system is likely to occur, the increased competition will change the structure of property rights as well as the organizational structure of enterprises, and bring a range of more efficient new institutional arrangements can be expected, with the tide of globalization, the world grows smaller, modern system of property rights will become the mainstream of the winning system in China, with the separation of powers due to growing competition in the region, the process of modern property rights movement not only will always go on and compete for resources with the local competition (as in "to attract capital to the state's founder Company"), will further change the existing each arrangements of entries economic system.

(B, a modern property rights system will accelerate the process of China's market

Establishing a modern property rights system can generate huge radiation effects, it can be outside to the inside layers of depth to promote the Chinese market, with the entire process of marketization and internationalization of China's economy, the establishment of a modern property rights system can have a significant correlation effects, it can be effective mechanism to promote enterprise, the market mechanism and macro management mechanism toward the direction of the full range of changes meet the essential requirements of the market economy, establishing a modern property rights system can produce powerful effects of radiation, it can be driven by market-oriented property and bring market-oriented mechanism, so that the implement of a modern market economy to the Chinese economy in various fields and at various levels.

Between the owner of the same ownership within and between the different forms of ownership of property rights, corporate system can be set up, joint-stock enterprises. Modern property rights system for the formation of a standardized corporate system, the joint-stock enterprise operating platform. Fusion of different property rights by the joint-stock form of property rights, not only faster growth of enterprise-scale, comparative advantage and be able to play between the different subjects of property rights, improve the competitiveness of enterprises, but also provides effective forms of public ownership economy. The enterprise is the main body of the market economy, the standardized operation of enterprises will accelerate the process of China's market and to promote the prosperity and development of the market.

(C), a modern property rights system can promote the efficient operation of state-owned assets

Favor the main responsibility for the implementation of state-owned assets, and earnestly safeguard the owner's equity. Long-term property rights of state-owned assets to clear and specific investor representative and direct responsibility for the subject, in fact, in the nothingness state resulting in operational inefficiency of state-owned assets, or even been seriously violated for the state-owned assets and state-owned enterprises, establish and improve modern property rights system means not only a clear national ownership of state-owned assets, and at the same time means that clear the direct supervision of the state-owned assets, not only to make the operations of state-owned assets of enterprises strive to preserve and increase the value of state-owned assets, and the regulators also assume responsibility to safeguard the inviolability of state-owned assets, which truly implemented into practice the main responsibility of the state-owned assets, and the protection of state-owned assets to provide the institutional basis so as to invigorate the state-owned capital and second, to explore public ownership, especially state a variety of effective forms to improve the operating efficiency of state-owned capital in the traditional system, the realization in the form of public ownership is the single, rigid sluggish operating. makes public asset loss, and is therefore naturally depreciate in the past twenty years reform foundation to further establish and improve the modern property rights system, in particular, actively promote the flow of public assets, reorganization, not only to optimize the configuration of public capital, and will help to change the capital structure of state-owned enterprises, investment diversification, thereby enhancing the state-owned the operational efficiency of capital.

Pattern against the existing state-owned assets, through systematic summary of the experience of 20 years of reform, the Third Plenary Session of the nature, structure and function of the state-owned enterprises under the conditions of a market economy with a new awareness, to fill the state-owned asset owners blank virtual to physical theory, diversification of property rights, the development of a mixed economy to establish strategic focus for the next step of economic reform, to ensure the maintenance of the integrity of the state-owned riches to improve the quality of the operation of the state-owned assets.

(D, a modern property rights system can improve the state-owned asset allocation performance

A prominent issue in our economic life, the industrial structure of aging, serious overlapping. Bluntly, it is a production and management autonomy, lack of initiative, and competition in the market is not sufficient, the mobility of the factors of production is not the result of the main players in the market, and fundamental is caused by defects in the system of property rights and property ownership clear, vitality and power to promote economic restructuring is fundamentally the smooth flow of property rights, the formation of an effective way to convert the structure of property rights. precisely to achieve enterprise frequent flow and reorganization of the benefits of capital, obsolete obsolete products, technologies, management is difficult to stop, and must be constantly refurbished, so aging, repetitive structure of property rights and must continue to convert and upgrade a long time, difficult to survive in a nutshell, the pursuit of economic efficiency resulting in the property rights flowing necessity, Liquidity of Property Rights, whether caused by investment direction itself changes or adjustments to the capital organization, directly or indirectly, to promote the innovation of products, industry or indirect structure a modern property rights system is economic structural transformation and upgrade the system guarantee.

At present, the biggest loophole in the loss of state assets from the efficient allocation of resources can not can not function effectively, so that the benefits of state-owned assets. Modern property rights system by promoting the flow of capital and restructuring, to make an inventory of state-owned stock of capital, reduce or put an end to the state-owned assets, let slip through the issuance of a series of normative documents of the reform of state-owned enterprises of the State Council and relevant departments to regulate transactions of property rights of state-owned enterprises, benefits to revitalize the stock assets, the people will make an inventory of the stock of assets to achieve full employment.

In short, a modern property rights system is the Party Central Committee in conscientiously sum up the great practice of the socialist market economy in more than a decade on the basis of the status quo for the reform of state-owned enterprises of China how to improve the reinvention of the theory of the market economic system, of building a moderately prosperous society, the sustained, healthy and rapid development, and the reform of state-owned enterprises to further develop in depth, will play an irreplaceable role.

Fourth, deepen the transformation of modern property rights system, and encourage enterprises to establish a standardized modern enterprise system

(A deep understanding of the practical significance of the modern enterprise system to a modern property rights system.

Understand modern property rights system, you can start from the point of view of the modern enterprise system. Beginning to propose the establishment of a modern enterprise system, many people do not know what the modern enterprise system, it forms what? Actually Inc., its typical form of limited liability companies and joint stock. bear unlimited liability partnership that the fundamental difference between traditional family business, the core of the separation of ownership and management, corporate enterprises only bear the corresponding amounts of capital Limitation of Liability. This adapted to large concentrations of capital, the independent functioning of the capital, the relative dispersion of the needs of the investment risk, and thus to promote the rapid development of the social productive forces, what is a modern property rights system? Or joint-stock company system, a new property organization the form, and a complete set of the legal system, including how to define property rights and how to exercise full rights inherent property rights (property rights, debt, equity, and intellectual property, how to assume corresponding responsibilities and obligations and rights, as well as how kind of property rights in the case of clear ownership transactions, so that all rights are protected, and the responsibility to be fulfilled.

(B rationalize the state-owned assets management and supervision system as soon as possible, as soon as possible to achieve the government's public management functions and the functions of state-owned assets separately, to achieve the transformation of state-owned assets by the administration to the liquidity of the market-oriented.

Liaoning Province, for example, in promoting the strategy of revitalizing northeast Liaoning be regarded as a heavy burden, the mechanism is not active, the huge state-owned assets by expanding and opening up, change the mechanism to seek new development, especially the use of market-based instruments to attract foreign investment has made great achievements. according to Liaoning Provincial Bureau of Foreign Trade and Economic Cooperation Bureau statistics, the first seven months of 2004, the province's actual use of foreign capital on the basis of last year's rapid growth, year-on-year and up 1 times more compelling, the industry has become the largest field of Liaoning to attract foreign investment, the actual use of foreign investment of $ 1.725 billion, a year-on-year increase of 100.5%, and the proportion of one, two, three industrial utilization of foreign investment up to 64%.

With the huge amount of state-owned assets of manufacturing industry in the global range acceleration gradient transfer, the former is regarded as the greatest burden of Liaoning, highlight the advantages of its industrial base and rich human resources, to become a new bright spot to attract foreign investment. Province, a number of key equipment manufacturing enterprises began to work with world-class enterprise. since the beginning of this year, the U.S. General Electric Company, the German Siemens company, etc. with Shenyang dawn Aviation Development Group, Shenyang blower plant such as a joint venture co-operation achieved a breakthrough in the first seven months, the province's equipment manufacturing industry utilize foreign capital accounted Add the refrain of the total foreign investment.

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Liaoning developed raw materials such as iron and steel, petrochemical industry also strongly attracted the eye of multinational companies, the joint venture to promote import substitution of our major products. Angang and Benxi Iron and Steel and ThyssenKrupp Steel Company, South Korean Pohang Iron and Steel Group co-investment more than 50 billion U.S. dollars, the construction of hot galvanized plate and cold rolled pre-painted galvanized plate project, Posco investment ratio has been increased from 10% to 25%. Liaoning is further adjustments to the layout and structure of the state-owned economy, and vigorous development of joint-stock public ownership of the effective realization of the form, in addition to a handful by the State sole proprietorship enterprises, other enterprises are all open to foreign investment, foreign investment can not only shares a joint venture, or even a merger or controlling, accelerate the establishment of a modern property rights system.

The improvement of the investment environment has provided a guarantee to the use of foreign capital of state-owned assets in Liaoning. Liaoning successfully carried out the experimental work of the reform of the social security system, there are 1.755 million laid-off industrial workers to the unemployment insurance system, in one fell swoop to solve the problem of "staff heavy burden" to attract foreign investment. Far more than 400 state-owned large medium-sized enterprises to take advantage of foreign capital has been transformed, not only to make up for the lack of funds, there is force to promote changes in the mechanism of state-owned enterprises and the improvement of management level.

Number of the province's large and medium-sized state-owned enterprises less than in 1996, 70% of the total state-owned assets has increased by nearly 200 billion yuan, the state-owned economic benefits .2004 a substantial increase in the province's national economy to become the fastest growing in recent years during the above-scale industrial enterprises realized profits in the first half of this year, 18.1 billion yuan, an increase of 77.6%, the profits of state-owned and state-holding industrial enterprises increased by 1.2 times to $ 12.7 billion local fiscal revenue to the rapid growth of 20%.

Adhere to deepen the reform of state-owned enterprises as the central link in accordance with the spirit of the Third Plenum, further rationalize the state-owned assets management and supervision system for the core and a breakthrough in the reform of property rights system, and gradually establish clear ownership and responsibility, strict protection flow unobstructed modern property rights system to speed up the adjustment of the layout of the state-owned economy, investment diversification, make the shareholding public ownership the main form of positive and secure organization of the implementation of the new three-year target of the reform and restructuring of state-owned enterprises plan to increase the relevant laws and regulations , policy propaganda, pay attention to the mobilization of enterprise restructuring actively sexual, seriously estimates commensurate with the set goals of reform costs. regulate the property rights trading behavior enterprise state-owned property rights of transfer shall co-regulation, to follow the laws of the market open, fair, impartial, practical prevent the loss of state assets to properly deal with the reform, development and stability, and the intensity of reform, the speed of development and the sustainability of the degree of organic combination of both to promote economic development while maintaining social stability and people's fundamental interests.

(Third, actively promote the orderly transfer of property rights, and vigorously develop the economy of mixed ownership of shares of state-owned capital and private capital, investment diversification, and state-owned assets in one or two years to achieve an orderly exit from the general competitive field.

In the 16th Party Congress, the reform of state-owned enterprises has been determined to "advance and retreat" and "do something", but for the reform of state-owned enterprises around the selling of practices, the community reflect not consistent, which reflect more worried about the loss of state assets. bear too much burden to society and social burden of state-owned enterprises, however, such a large amount of money is consumed. If you do not have a new way to promote the development of state-owned enterprises, is tantamount to the largest loss of state assets. Competitive transfer of ownership of state-owned assets have been there is no policy barriers, the rest is bold emancipate the mind through the intervention of foreign investment and private capital to accelerate state-owned capital and orderly exit from the general competitive field, and promote the reform of state-owned enterprises into a new stage, is also facing a historic opportunity to foreign investment and private capital.

(D resolute implementation of national laws and regulations to protect all kinds of property rights, and strengthen effective regulation of various laws and regulations to protect the equal legal status and the right to development of all market players.

At present and in the future for a long period of time, the outstanding problems that need to be addressed in the development of China's market economy, the first is to strengthen the protection of property rights. Clear boundary and subject to the effective protection of property rights, the basis of the functioning of the market economy. Recent years, the protection of private property rights calls for more, in reality, there was not only infringe on private property rights, there are also public ownership, especially state-owned property rights infringement, the latter phenomenon tends to be more serious, because of "property rights Absence" In addition to the sound to respect, protect the internal mechanism of the property rights, it should be in the law, including constitutional hierarchy and specific legal level, to further clarify the protection at this stage of the socialist market economy, the legal existence of various types of property rights and effective implementation in practice. improve revenue redistribution system to reduce the income gap is too large and lead to social instability. increased income gap has complex reasons. Excessive government intervention in economic activity, too deep, and the resulting consequences of corruption that led to the distribution of income, are unacceptable in the sense of fairness and efficiency. Should effectively promote the separation of government administration from enterprise management, and reduce the government on economic affairs improper intervention, and at the same time sound-related taxes and transfer payments system, income redistribution mechanism for the formation of both equity and efficiency, promote economic development and social stability. Gradually establish a social security system compatible with the level of economic and social development of the social security of the state-owned enterprise workers is a priority, the other hand, with the advance of industrialization and urbanization, should be in the community support, "Social Welfare disease "within the scope of the growing number of people into the different levels of the social security network, and build long-term stability of the social infrastructure. Strengthen anti-monopoly and promote competition at this stage of monopoly, concentrated expression in the administrative monopoly. Containing natural monopoly aspects of the field, a natural monopoly is often combined with administrative monopolies in the competitive field, enter exit and the day-to-day business to varying degrees by the intervention of the of administrative monopolies forces from local and departmental. market monopoly in the foreseeable future, the problem will gradually prominent. should accelerate the reform of monopoly industries, straighten out "all roads "horizontal" relationship between government agencies and the market, pay close attention to the development and introduction of the relevant antitrust laws to promote fair competition, and being promoted gradually with the international scope of competition policy standards. development and improve the social credit system and credit system highlight weaknesses in the construction of China's market economy status and stage of development of China's market economy, and the lack of commercial and cultural traditions, but also with the protection of property rights, the government action in question. should start from to improve the credibility of the Government accelerate the development and a sound credit organizations, mechanisms and systems, nurturing credit culture, and the formation of the legal 〃 〃 honesty and ethics. Sixth accelerate the construction and development of the market economy and improvement of the legal system adapt the one hand, to make up for legal gaps still exist, in particular, have not been worked out yet << antitrust laws >> basic laws, on the other hand, is more important to solve the problem of failure to abide by the focus and resolve system behind this phenomenon and mechanisms, with the necessary adjustments and reforms of the judicial system, and gradually the basic behavior of the market economy based on the rule of law basis.

(E, a modern property rights system for guidance, good follow-up system of property rights and property rights of the restructuring of enterprises management specification work should be done five areas of change:

1, by enterprises to pipe assets shift. State-owned assets management agency is responsible for the management of the central and local-owned enterprises of the state-owned assets, rather than state-owned enterprises. Should be clear, state-owned assets management institutions and enterprises of the relationship is the asset management relationship, rather than affiliation. The owner of the state-owned assets of enterprises is clear to the Government, the state-owned assets invested enterprises limited liability. Assets in the enterprise can advance and retreat.

From static management shift to the dynamic management of state-owned assets management institutions to manage state-owned assets, management can not stay in the carrying on, can not stay in an enterprise management, to promote the flow of state-owned assets, promote strategic adjustment of state-owned assets , advance and retreat, increasing the value of state-owned assets in the dynamic.

From the management of the physical form to the form of value management changes. Solve the phase separation of ownership of state-owned assets management rights and the right to operate the basic requirements. Enterprises occupy fixed assets, to occupy current assets should the enterprise be determined according to the actual needs, the state-owned assets management institutions simply the form of value of the state-owned assets under an overall The amount of control, the assessment of increasing the value of enterprises in the total volume of.

From pre-approval management rear supervision and management of change. According to the authorization, the company has the legal property rights, their own decisions, their own decisions, to bear increasing the value of responsibility for state-owned assets management institutions, state-owned assets management agency is only responsible for the supervision and management of the main oversight whether a company for democratic decision-making, whether decisions by scientific procedures, whether the implementation of the relevant rules and regulations, but not everything should be reported to the state-owned assets management department for approval, the investor's interests more in the future to rely on the audit of the social intermediary organizations to maintain.

5 team from the tube to the delegate property rights on behalf of change. Transformed into multiple investors with the diversification of property rights, the wholly state-owned company, the business team should be equipped by various investment entities, state-owned assets management institutions just sent according to how much capital contributions, is responsible for the property rights of state-owned assets representatives, corporate leadership team rather than in the traditional sense, the interests of the investor more in the future have to rely on to maintain property rights on behalf of Board decisions.

[References]:

1 << >> decision of the CPC Central Committee on the establishment of a socialist market economic system, a number of issues

2 >> << decision of the CPC Central Committee on perfecting the socialist market economic system, a number of issues

3, Tan Fei Zhang Ren Jun: << >> Water Power Press of modern enterprise system 1995-11-01


Xiao Zhuang et al co << Shanghai Economic Development Series: State-owned enterprise reform >> Shanghai Academy of Social Sciences Press, published in September 1999

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