The Legislation And Perfection Of China's State-owned Assets

Along with the development of the economic system reform, the state-owned assets have been lost largely, which is associated with the lagged legal system construction of China's state-owned assets management. Although the implementation of The People's Republic of China Enterprises State-owned Assets Law plays an important role in controlling the loss of the state-owned assets, it still has some limitations. Among them, the most serious loss is the business state-owned assets, which is caused by imperfect assets evaluation mechanism, deficient property right trading legislation, imperfect operator's incentive and constraint mechanism, lack of supervision, irresponsible relevant subject check, non-formal information disclosure, the "black case work", lagged property management, disorganized benefit allotment so on and so forth. In order to reduce or fundamentally control the loss of the state-owned assets, we have firstly to perfect legislation to adjust the business state-owned assets management system and carry out "unified capital contribution, classification operating" on management assets. Secondly, we should formulate some higher-level law, modify the relevant laws and regulations to establish a strict civil responsibility punishing system, establish an effective incentive and constraint mechanism, perfect the information disclosure system, establish the state-owned property right trading information report system, build the system of the state-owned assets, strip completely the supervision and administration of the state-owned assets department to make it become a "clean" investor and perfect and strengthen the protection of the criminal law of the the state-owned assets. Thirdly, we will establish public interest litigation system and open up the path of benefit relevants to safeguard rights.