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Improving State-owned assets management system (No 160, 2014)
2014-12-11
Research team on State-owned assets management system reform, by Ma Jun & Xiang Anbo, Institute for Enterprise Research, Development Research Center of the State Council (DRC)
Report No 160, 2014 (Total 4659)
Abstract:
It is suggested that the government should improve the State-owned assets management system according to the principle of separating decision-making from implementation and supervision, and improve corporate governance in line with the principle of separating ownership from management right, to improve a State-owned assets management system that separates government administration from enterprise management, integrates rights with responsibilities, with effective checks and balances as well as coordinated operations.To be specific, efforts should focus on the issuer of government management reform to push forward the overall reform of the State-owned economy and realize the following two targets. First, State-owned enterprises will become more competitive by cutting administrative intervention and second, an effective mechanism will be founded in which State-owned capital distribution could be dynamically adjusted, and State-owned capital gains could be effectively utilized. This reform can be divided into two phases: first, improving the government mechanism for State-owned assets management and launching a State-owned capital investment pilot practice, over a 3-year period of time; in another three years establishing a comprehensive State-owned assets management system.
