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The regulating model of State-owned assets under SASAC: Preliminary evaluation and suggestions (No 159, 2014)
2014-12-11
Research team on State-owned assets management system reform, by Qi Changdong & Chen Xiaohong, Institute for Enterprise Research, Development Research Center of the State Council (DRC)
Report No 159, 2014 (Total 4658)
Abstract:
Based on the regulations formulated and issued by the State-owned Assets Supervision and Administration Commission (SASAC) and relevant laws, this paper analyzed the basic features and reasons behind the pros and cons related to the regulating model of State-owned assets under SASAC from four aspects including -– shareholders' rights and responsibilities, public policies, enterprise internal management, and Party-masses relationship.
While effectively performing the investor's responsibilities, the SASAC is facing some issues to address such as exceeding its power to intervene in the operation of enterprises and improper regulation over too many fields. It is suggested that the regulating model of State-owned assets under SASAC be reformed model focusing on capital management, which involves the following issues: the government should reform the State-owned assets administrative system, and implement the system in which the policy formulation by investors of State assets, is separated from policy implementation and supervision; the specific approach toward regulating model should be improved; the State-owned enterprises should push forward market-oriented reforms including human resource management system; the relevant laws and regulations should be amended and a more dynamic and appropriate system should be established in which consultations and analysis related laws and regulations could be made in an open manner; the State-owned enterprise operations should be improved and the commission's regulating policy and implementation should be properly disclosed.
