A Study On Chinese Government Assets

The study of government assets has its important theoretical and practical significance.Government assets are the material basis for the provision of public goods and public services.While providing security for the expenditure of relevant funds of government agencies,government assets regulate the social and economic operation through the indicator of total social demand,thus promoting economic development and the progress of social civilization.Through the study of State(Government)Balance Sheet at home and abroad,it is found that most of the research subjects are the state,and the relevant research on the government as the main body is less,but in fact,the Chinese government owns and controls a large number of assets,so it is necessary to explore and study the accurate monetary value and appropriate estimation methods of Chinese government assets.At the same time,problems in asset management can be found in the process of accounting,and targeted improvement of management methods is of great practical significance to safeguard the rights and interests of government assets,promote the standardized operation of government assets,and enhance the utilization efficiency of government assets.This paper studies government assets from two aspects: government assets accounting and government assets management.Based on the comparative analysis of the national balance sheet and government balance sheet at home and abroad,following the international standards such as the National Accounting System 2008,combining with the relevant systems such as the Government Accounting System of China,and referring to the existing research on the national balance sheet and government balance sheet in China,this paper draws up the categories and main frame of Chinese government's assets and liabilities.Guided by the theoretical framework,this paper estimates the government assets and liabilities of China in 2016 and 2017 respectively.Among them,the accounting of non-productive assets and state-owned net assets of financial institutions is the key content.In the accounting of non-productive assets,land assets,coal assets,oil and gas assets and water resources assets are mainly measured.On the basis of the existing research,this paper redefines the area of government land assets and estimates the proven reserves of oil and gas assets in China by net present value method.At the same time,we try to use the net present value method to estimate the discount of resources tax payable for existing reserves in the accounting of coal assets and water resources assets of the Chinese government.The calculation of state-owned net assets of financial enterprises has expanded from key bank enterprises to urban commercial banks,securities and futures industries and insurance industries in the banking industry.The selected enterprises are analyzed in detail.The calculated data are compared with the official data in the State Council Special Report on State-owned Assets of Financial Enterprises in 2017,and the accuracy of the calculated data is evaluated.In addition,production assets and government liabilities are estimated.By estimating the assets of the Chinese government,some problems in the management of government assets are found.The corresponding policy suggestions are elaborated from three aspects: production assets management,non-production assets management and state-owned assets management of financial enterprises.The improvement of government assets management will lay a solid statistical foundation for the accurate accounting and measurement of government assets.The main conclusions of this paper are as follows:Firstly,the estimation methods and data of net state-owned assets of non-financial enterprises are reasonable.By calculating and analyzing the state-owned net assets of non-financial institutions from 2010 to 2017,and combining with the data published in the Comprehensive Report on the Management of State-owned Assets in 2017,this paper makes a comparative analysis of the estimated data and official data,and finds that the estimated data of the state-owned net assets of non-financial institutions are not much different from the official data,and the estimation method is more appropriate.Secondly,the accounting of natural resources assets of non-productive assets still has a larger space for development.In the process of collecting and calculating assets data of land resources,coal resources,oil resources,natural gas resources,water resources,forest resources and radio spectrum resources in China,it is found that there are major problems in the management of natural resources.Only by strengthening the management and statistics of land resources,mineral resources,water resources,non-nurturing biological resources and radio spectrum resources,can we lay a foundation for the accounting of natural resources assets in China.At present,we can draw lessons from the practices of Canada and Australia,try to compile satellite accounts,record the depletion of natural resources and newly discovered resources in detail,and link these resources accounts with China's economic and environmental protection policies to achieve sustainable development of natural resources.Thirdly,the accounting methods of state-owned net assets of financial institutions need to be further improved.This paper calculates the state-owned net assets of financial institutions from three industries: banking industry,securities and futures industry and insurance industry.After calculating the specific government assets data,according to the data published in the State Council's Special Report on State-owned Assets of Financial Enterprises in 2017,the accounting data and official data are compared and analyzed in different industries.It is found that there is a big difference between the state-owned net assets of financial institutions and the official data.Among them,the estimated data of state-owned assets in insurance industry is not much different from that of the official,while the estimated data of banking and securities industry are much different from that of the official,and the possible reasons are analyzed.Only by strengthening the management of financial enterprises,paying attention to the information records and publicity of some financial enterprises,perfecting the data of state-owned rights and interests of financial enterprises,and collecting them by industry and classification,can the accurate measurement and true reflection of state-owned rights and interests of financial enterprises be realized,and the management and supervision of financial assets be strengthened.Fourthly,the total assets of the Chinese government are large and there are more available assets.The Chinese government assets accounted for in this paper are lower than the actual value.On the one hand,China is rich in natural resources,including not only the land,coal,oil,natural gas and water resources,but also other natural resources,whose measurement will be an important part in the future.On the other hand,the state-owned net assets of financial enterprises do not include all financial enterprises because of the availability of data and other reasons.Even so,the total amount of government assets calculated is still large,and through the analysis of the structure of assets and liabilities,it is found that the Chinese government has more available assets.