On Institutionalization Of Governmental News Releasing From The Principal-agent Perspective

China's economic achievements attained during the past three decades of Reform and Opening- up has attracted the world's attention. China has promoted comprehensively deepen reform in governance. The important reform measures taken by the Chinese government to enhance its governance capacity and strengthen public services are to seek for information disclosure and political transparency and big news released in time. As the world's largest socialist country, China spares no efforts to meet the public needs for all kinds of news and information, but needs to break through its institutional arrangements. The goals of promoting the modernization of national management system and governance capacity, including institutionalizing government news release, have been stipulated in the Third Plenary Session of the Eighteenth Central Committee. This is an important subject of modern government management and a long-term and systematic development process.In the context of this era, this paper, from the perspective of economics and principal-agent theory and with the combination of journalism and communication and public relations theory, aims to make comprehensive analysis of the principal-agent theory and the nature of the government in the real world, probes into the problems and insufficiency existing in government news release and make studies to put forward the key measures for the realization of government news release system, so as to provide theoretical support and guidance for the institutionalization of the government news release and the improvement of the information communication between government and the public.From the point of the principal-agent theory, the public is the principals, and governments as agents should take actions in accordance with the requirements of the clients. However, in fact, due to the asymmetric information between them, it is possible for agents to job profits for personal gains taking advantage of their easy access to information; while clients need much more information to master their monitoring agent behavior. This kind of phenomenon really exists in governments in the real world. In order to solve this problem, the effective ways of modern governance are to make the public share government information, promote the interaction between people and their governments and make innovation for the channels of the public's participation. The relation between citizens and governments released by the Chinese government news is typical principal-agent. In the current period of social transition, it is important for people to fully master the government information, especially to recognize that on behalf of the interests of the people, the government is authorized by the general public. While the government news release, as an authoritative, convenient and effective communication and exchange platform, is of very important significance for the institutionalization of the government news release. This is a key content and work of the current government administration reform.Modern management philosophy is undergoing fundamental changes, the key of which lies in the communication and cooperation between government and the public and improves the ability of the coordinated development of the society. The transition from traditional one-way government management to the joint governance by government and people is an important characteristic of modern national governance system. However, the full disclosure of all kinds of government information is the premise of the public participation; all of these are required to be guaranteed by the system and laws. Government news release, as a communication bridge and the public relations activity between the government and the public, provides a channel for the public to orderly participate in the state and social governance.so that there are many shortcomings in terms of quantity, concepts, processes, effects and channels. From the point of 5w propagation mode of journalism and communication, this paper intends to put forward the five dimensions for system arrangement, respectively the main release subject, content, media, audience and effect control, and push forward the construction of the government news release institutionalization and legalization, so as to develop the government news release platform into the important platform for the interactive communication between government and the public, into an important carrier of social management innovation and an important part of modern national governance system.