Research On Running Stratagem Of National Capital Basing On Finance

In 2000,I participated a research work led by Professor Guo Fu Chu, the subject of this research was about the financial problems in the process of reforming economic structure. I chose a topic named strategic research of the operation of state owned capital. From the Third Plenary Session of the 11th Central Committee to the Fourth Plenary Session of the 15th Central Committee and down to the 16th National Congress of Communist Party of China, our party and government have always been searching for the proper managerial system of state owned capital with socialistic marketing economic system. As a teacher in university and a graduate student I have responsibilities to conduct intense research works in this field. So starting from year 2000,I have been keeping gathering materials until I finished this paper.This paper provides fundamental theory of state owned capital from the finance point of view. It discusses the choices of operational strategy by the entities of state owned capital. Then it gives some suggestions to it. This paper focuses on the operational strategy of state owned capital based on property rights theory, principal-agency theory, state finance theory and owners finance theory. It alsoaddresses the entities that are operating the state owned capital and how to solve the investment problems about investors and how to structure the state owned capital bureau especially when they are related with the problem of how to choose the quitting style of state owned capital after the 16th national congress of communist party completed successfully. At last this paper gives some further discussion and analysis of these problems mentioned above through some cases.