Research Of Xinjiang District-level State-owned Enterprises To Build The Board Issues-Reference Temasek Management Model

Since the nineties of the last century, the state owned enterprises reforming in our country went throug the liberalization of prices, the establishment of the hard exploration of modern enterprise system, after struggling to find new breakthroughs in reform direction, towards the end of the pace of corporate restructuring. The state-owned enterprises gradually began to improve the corporate governance structure, but at the beginning of the twenty-first century, after more than ten years of reform of state-owned enterprises, as the core of corporate governance, the board of directors construction is showing a lot of problems, the board of directors of state-owned enterprises will be useless, "leaders finalized", "vase" director phenomenon exists generally, serious impact on the level of corporate governance, so many people began to the directors in the state-owned enterprises will be the existence of this institution have doubts.In 2004, Singapore’s Temasek Holdings(PTE) Co. Ltd.(Temasek Holdmgs(Private) Limited, hereinafter referred to as Temasek) announced the first annual financial report from the financial data that Temasek has almost dominated the Singapore economy, its sustainable and high total shareholder return(TSR) win the global "state-owned enterprises profit myth" in the world, and as the highest authority of Temasek’s board of directors has aroused people’s concern, the perfect and effective board governance mode, known as the "Temasek mode", from the Temasek model has become the domestic and foreign corporate governance "benchmark, has aroused many experts and scholars to conduct the research and study on the Temasek model. Temasek ’s light, let us seemed to find the direction of the reform of state-owned enterprises, from the beginning of this year, the state owned assets supervision and Administration Commission each year are organized the SASAC of the State Council and local state owned assets supervision and Administration Commission, and the central enterprise leading to Singapore, investigation and Temasek learning management experience, and in Baosteel Group and other central enterprises, as well as Jiangsu Province State owned assets supervision and Administration Commission for the construction of the board of directors of the pilot, in order to constantly improve the board of directors of the central enterprises to build.In November 2013, Eighteen Third Plenary Session——The decision of the Central Committee of the Communist Party of China on major issues concerning comprehensively deepening the reform》clearly puts forward the “regulatory capital” mainly strengthening the supervision and administration Of the state-own ed assets management direction. It sets off a new wave of reform about state-owned enterprises. At the same time, It particularly pays attention to construction of board of directors. Xinjiang is located in the west of China. Local state-owned enterprises’ management ability have improved after the continuou s deepening reform,but the in the construction of the board of directors still exist many problems and di fficulties, such as the board will be useless, system is not perfect, the executive director proportion is to o high, the independent directors do not "alone" phenomenon exists generally. Through investigation on the construction of the board of directors of local state-owned enterprises and thorough analysis, we find t he problem exists in roots. On the other hand, the multi level analysis of the Temasek to the Temasek mod el can be used for reference, including the function orientation of the Temasek, the operation mechani sm of the board of directors and the perfect supervision system. Finally, according to the Central Committ ee on deepening the reform of state-owned enterprises of the relevant guidance, we put forward counter measures and suggestions for Xinjiang local state-owned enterprises’ reform,such as specifing SASAC positioning functions、desalination enterprise administrative level、perfecting the pool mechanism of director talent、 improving the Board’s relevant systems and balances mechanism.