Study On The Responsibilities In Corporate Governance Of The State-owned Assets Supervision And Administration Commission Of Hangzhou Municipal Government

The State-owned Assets Supervision and Administration Commission of Hangzhou Municipal Government(hereinafter referred to as SASAC Hangzhou),a special government agency that performing the investor's duties as a representative of Hangzhou Municipal Government,plays an indispensible and important role in the governance of municipal state-owned enterprises(hereinafter referred to as MSOEs)that authorized by laws and regulations or granted by its department responsibilities directly.Under the environment of improving the SOEs reforms,there is undisputed that how will SASAC Hangzhou to exercise the power as an investor correctly,help the enterprises to improve the governance proactively,achieve the enterprises operation objectives,and ensure the preservation and appreciation of state-owned capital according to 'Companies Acts','State-owned Assets Administration Laws',and other laws and regulations makes an very important realistic significance.Throughout adopting several methods including documentary research,comparative research,normative analysis,this Study discussed the theory of Corporate Governance by analyzing three patterns,and distinguishes between broad and narrow senses,and internal and external.The Study summarized the work and achievements SASAC Hangzhou had done in corporate governance of MSOEs,made objective description to the status,analyzed and summarized the existed issues,and then put forward suggestions for improvement.The Conclusion of this study was that SASAC Hangzhou should pay more attention to the effect of the Articles of Association in corporate governance of MSOEs.The Articles of Association should reinforce the pertinence and operability,and turn into a powerful tool and action guideline in corporate governance under the frame of laws and regulations to the effect that related parties especially internal governance parties could be united constant to.It proposed that SASAC Hangzhou should correctly distinguish the responsibilities between the investor and corporate board while exercising the rights within the scope of responsibilities by laws as an investor.At the meanwhile,SASAC Hangzhou also should exercise the superintendence through the statutory bodies and personals as Supervisory Board and Chief Finance Officer(CFO),strengthening supervision to the funded enterprises by management systems,and feasibly and effectively safeguarding the interests.I draw up some policy proposals by my investigation and study in the corporate governance such as building the talent pool for the members of the Board and senior management personnel,professionalizing the chairman of Supervisory Board,establishing the secretary system of Supervisory Board and insurance system for Board practicing,etc..I made a summarization and extraction with that good experience such as setting up a special committee in the Board in the Corporate Governance,and supervised Joint Conference System of MSOEs.