On Legal Questions Of State-owned Property Right Conveyance

The state-owned property right conveyance legal questions refer to the main body, the conveyance intermediary, the conveyance behavior, the conveyance system and other related legal questions of state-owned property right conveyance in both substantive and procedural legal systems. These questions are not only the directly decisive factors of the state social economy system structure and its nature, but also the influencing factors of the state resource's disposition and the cost & efficiency of system running. The state-owned property right conveyance is the inevitable result of the profound state-owned enterprise reform. Currently, it is the most active, most effective and most economical market disposition method for state-owned property and social resources. It can adjust state-owned property structure and industrial structure, promote the forming of property right main body multiplication pattern, build the regular automatic control mechanism for essential factor storage quantity and it is an effective solution to shortcomings of state-owned system. In order to develop state-owned property right conveyance, the most important methods are creating the property right conveyance legal system environment, defining property right relations, reforming state ownership form and structure, gradually realizing transformation of government's management way from production management to property management, carrying out the property right conveyance system according to state-owned enterprise management and market competition situation and using legal method to safeguard state-owned property right conveyance functioning. The state-owned property right conveyance has its specific conveyance form and principles. Conflict of laws and regulations related to the state-owned property right conveyance may be dispelled by authority legislation. The state-owned property right conveyance law has its specific modifying objects and institutional framework. The orderly state-owned property right conveyance needs legal system environment, ethics system environment, policy system environment, market system environment and etc.The main body of property right conveyance refers to the country, and its authorized function organization, natural person, legal person, and non legal person unit, who has the property right, and can possess, use, benefit and dispose the property. The main body of property right conveyance must has civil right ability and capacity, has either possession of the property or specifically some item of property right, as well as the rights related to the property right. Structure of property right conveyance main body is the proportion structure between state-owned enterprise and overseas enterprise or state-owned enterprise and private enterprise. The multiplication of state-owned property right conveyance main body, is not leading to the drain of state-owned property. As long as controlled properly, it will not cause the wasting of bank debt. It is a withdrawal channel of state-owned property right. It has significance to limit the state-owned property right conveyance main body from state economy security, industrial structure adjustment and state economy structure adjustment. There are many policies can realize the multiplication of state-owned property right conveyance. The distortion of main body of property right conveyance can be put to the original state and the incomplete entering & withdrawal system can be made up.It is necessary and possible for the property right conveyance intermediary organizes form the multi-level capital market. The property right conveyance intermediary organization has intermediary, organization and policy characteristics. Its structure is a diffusion structure and it has bridge function, service function, guidance function and standard function. The property right conveyance intermediary organization faces some questions, which includes: regional protectionism, government supposing & seeking rent, non-standardized state-owned property conveyance. The solution outlets: distinguish property right ownership, completely goes to market, enhance supervision & management. The property right conveyance competition rule is the main regulation of property right conveyance intermediary organization running. The disperse supervision and management of property right bourses is necessary and possible and the legal liability is mainly the administrative responsibility, while the civil liability is next to it, rarely criminal responsibility.The state-owned property right conveyance behavior is a kind of legal conduct. The property right conveyance should be a circuit or platform of zero-lose information. Because of the information asymmetry, the conspiracy can be caused, thus the property right conveyance could be made unfair, its order could be disturbed, the conveyance trap could appear and investor's confidence could be harmed. To prevent conspiracy, we can establish multi-channel appraisal system, establish mix request the proxy contract, establish trophy system and recessive prestige discrimination measure, option incentive to disintegrate the formation of conspiracy. We cannot simply completely deny those slightly defected property right conveyances. Strengthening supervision & management and enforcing punishment, we can prevent illegal activities in state-owned property right conveyance from happening.The general systems of state-owned property right conveyance include: Legal person property system, market entering system, appraisal system, tax preferential benefit system and punishment system. The special property right conveyance systems include: the market maker system, the main function of this system is promoting the market fluidity; the gold stock system, this system maintains the essential tensility of state-owned property right and private property right, the gold stock system of the withdraws mechanism for state-owned enterprise in England has important enlightenment & significance for state-owned enterprises in our country; The MBO system is an incentive system by which the enterprises attach importance to human capital and promote management value; The information disclose system is a kind of prevention system, as an important regulation in property right market, which has solved the problem of information asymmetry at present situation and has important value; The property right trusteeship is a kind of right entrustment which is based on the trust relations. Either the Rome property entrustment system or the England & America property entrustment system shows that the property entrustment or property right entrustment has great significance.The state-owned property right conveyance has both substantive law and procedural law overall framework. Though the system is relatively integrity, it is still incomplete. Its maneuverability is not strong and has defect and flaw. The state-owned property right conveyance system innovation has constitutional source and market source. It is necessary to complete the state-owned property right conveyance hospital system and the system environment. The state-owned property right conveyance's main body entering condition, withdrawal mechanism and incentive mechanism are to be developed. The intermediary organization's function of property right conveyance is to be perfected, thus we could realize sunshine conveyance. The state-owned property right conveyance behavior is to be standardized. The systems of state-owned property right conveyance behavior, enterprise annex & purchase and the property right conveyance special legal system are needed to be completed. It is important to expand gold stock system, cautiously carry out MBO system, strengthen information disclose, supervision and management system, promote German property right entrustment experiences and complete entrustment system.