Research Board Operating Mechanism Of State-owned Companies Under The New State-owned Assets Management System

In the 16th National Congress of the CPC, China established a new State-owned Property management system under which the Central Government and local governments perform the responsibilities of investor on behalf of the state respectively, enjoying owner's equity, combining rights with obligations and duties and administering assets, personnel and other affairs. In the 17th National Congress of the CPC, our country put forward to continue perfecting this management system, further developing reform of the State-owned Enterprises(SOEs). Under the new model system of State-owned Property management, to perfect the corporate governance of SOEs, especially the institution of the board of directors(BOD), is one of important task of the SOEs reform, and also the significant mission for these State-owned Assets Supervision and Administration Commission of government(SASAC) at present.According to the basic principles and theory of corporate governance, this paper compares the directorate operating patterns of SOEs in China and overseas countries. In the meantime, it analyzes the status quo and evolvement of the State-owned Property management along with the analysis of the institution of BOD. On the ground of the analysis above, this article proposes some countermeasures and policy suggestions to enhance the reform of directorate institution of SOEs in China.The main conclusion and suggestion of this paper is: aiming to facilitate the reform, the SOEs should to establish and perfect the mechanism of modern corporate governance with the core of institution of BOD. That is, further to improve the laws and statutes of State-owned Property management; further to clearly define the responsibility and authority between the SASAC and the BOD of SOEs, and to harmonize the relations between BOD, the party committee and the general manage; further to extend the institution of out-side directors, and to explore the mechanism of career-director. At the same time, the SASAC should to build and implement incentive and assess policies to inspirit and restrict the BOD and its member by stages, according to the fact.