The Research On Improving Regulation System Of Neo-soes' Top Managers

State-owned enterprises are the pillar of the national economy, they play a major role in maintaining the stable development of the national economy and regulating the allocation of social resources. Reform of China's state-owned enterprises is the key link of the whole economic system reformation, Neo-SOEs is a new type of state-owned economic organization mode which appeared during the reformation of state-owned enterprises, is characterized by diverse property relations and market-oriented management mode.The Neo-SOEs has excellent management team and good organization structure, also the government regulation agencies published a series of regulation system to monitoring the state-owned enterprises' top managers, but because of the agent problems existence, asymmetric information and stakeholder assonance,etc. China has not set up right scientific and effective Regulation System and mechanisms for state-owned enterprises'top managers, which leading to inefficient business management, serious loss of state-assets and business operators excessive consumption and corrupt behavior and other issues.In this paper, with the method of case and theory study combination, Firstly, with the description of CNPC and Ningbo port case introduced the background of CNPC and Ningbo port, human resources status, enterprise regulation approach and top managers'monitoring situation. through the questionnaire survey analyzed the problems and reasons of CNPC and Ningbo port's top managers regulation. This paper also describes the state-owned enterprises'top managers regulation theoretical basis, including corporation management theory, principal agent theory, the modern property rights theory, internal control theory and stakeholder theory. Then, this paper introduced the evolution of Chinese state-owned enterprises. On that basis illustrated how the Neo-SOEs created, definition, characteristics and classification, and further expounded the Neo-SOEs, actuality analysis of operators'supervision, including the top managers'external and internal supervision, and the existing problems and causes of current regulation.This paper analyzes the regulatory system of top managers based on the representative of the United States, France, Germany, Japan and Singapore state-owned enterprises in this five countries, shows the supervision and Inspiration to regulation system of our Neo-SOEs' top managers from other countries' experience. In the regulatory system, the paper proposed seven-point improvement ideas:Implementing legal and contract management to the state-owned assets, promoting the rationalization of ownership structure; Constructing multi-level and multi-faceted regulatory organization system, achieving the regulation subjects' coordination; Improving the agency relationship, establishing and perfecting the modern enterprise ownership; Improving the corporate governance of state-owned enterprises, establishing control of regulatory checks and balances; Establishing the institutional environment of controlling major shareholders, controlling abuse of power;. Strengthening top managers' incentive and restraint mechanisms, strengthening the capital market regulation; Strengthening top managers' professional ethics and trust responsibility.Legal regulatory approach, specialized departments regulatory approach, dual committee regulatory approach, audit regulatory approach, plan contract regulatory approach and classification regulatory approach, are common regulatory approaches of state-owned enterprises in western developed countries. China's regulatory approach is SAC-State-owned holding company-State-owned enterprises. Through researching the regulatory approach of developed countries'State-owned enterprises, combine the actual situation in our country, this paper proposed some views of the optimum design for Neo-SOEs'top managers' regulatory approach on the basis of classification regulatory approach.