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Liu Shijin

China Ought to Further Improve State-owned Assets Management System

2014-04-04

State-owned enterprises in China have now been confronted with some problems, which badly need to be solved. During the process of the State-owned economic structure adjustment and restructuring of State-owned enterprises, the State-owned assets management system should be further improved, which is of great significance. Here are some suggestions:

Firstly, further define the powers and functions of the contributor organizations. The SASAC (State-owned Assets Supervision and Administration Commission of the State Council) could think about the direct holding of key State-owned companies, while as for other companies, different holding companies could have joint shares.

Secondly, make clear the positioning of the contributors. The responsibilities of the State-owned contributors include continuously optimizing the layout of State-owned assets by executing management budgets, to make sure of State control in some key fields and key industries, while increasing the rate of capital return of those State-owned assets.

Thirdly, the operation of State-owned capital should undertake two responsibilities, to support the growth of the national economy, and to increase the State-owned capital operation efficiency.

Fourthly, carry out an overall restructuring towards the large-scale State-owned companies, to make the SASAC (State-owned Assets Supervision and Administration) directly hold State-run stock rights.

Fifthly, strictly differentiate the essential difference between the "implementing contributors' responsibilities in the way of shareholders" and "conducting the company's management according to the administrative subordination relationship".