the state-owned assets supervision and administration commission (sasac) held a few days ago to promote the reform of state-owned enterprises, to adhere to the role of state-owned enterprises and state-owned assets supervision responsibilities organic unity. the responsibility of state-owned enterprise investor and the responsibility of state-owned assets supervision are closely related, inseparable and organically unified, so there must be a main body to perform these two responsibilities. years of practice has proved that it is an effective institutional arrangement for the state assets regulator to perform these two duties.
the establishment of modern enterprise system is the direction of the reform of state-owned enterprises. corporation system is an important organizational form of modern enterprise system. the state council exercises the ownership of state-owned assets, and governments at all levels perform their respective duties as investors. the state council shall establish the state assets supervision agency and authorize it to perform the functions and responsibilities of an investor in state-owned enterprises. therefore, performing the responsibility of investor has become an important function of state-owned assets regulatory agencies.
at the same time, unlike non-state-owned enterprises, state-owned enterprises should not only abide by general laws and regulations, but also abide by laws and regulations related to the management of state-owned assets, which is a unique institutional constraint on state-owned enterprises. this requires a corresponding supervisor to ensure the compliance and implementation of the system. this supervisor should be the state-owned assets regulatory agency that performs the duties of the investor. state-owned enterprises should abide by all kinds of rules and regulations, and the state-owned assets supervision authorities should correct and even punish violators.
perform the responsibility of the investor, so that the state-owned assets regulatory agencies deep into the enterprise, understand the enterprise situation, know the enterprise demands, the two work together to run the enterprise well. this avoids the situation of disharmony and even contradiction and conflict brought about by the separate discharge of responsibilities by the two bodies. in these two responsibilities, the responsibility of the investor is the basis, based on which the supervision and management can have good results, so the state-owned assets regulatory agencies must firmly grasp the role of the investor.
state-owned assets supervision institutions perform the duties of investors and state-owned assets supervision, and the targets of their responsibilities are state-owned enterprises. different institutional arrangements of state-owned enterprises lead to different contents and ways of responsibility fulfillment. therefore, to perform the two duties well, the state-owned assets regulatory agencies need to have a clear understanding of the state-owned enterprises they are responsible for, so as to design the institutional arrangements for performing the two duties.
the reform of state-owned enterprises in china is to transform state-owned enterprises from the executor of mandatory plans to the subject of market competition. after more than 40 years of reform, china has established a market economy, and state-owned enterprises have become the main players of market competition. at the same time, the organizational form of state-owned enterprises has developed from monomer enterprises in the early stage of reform to enterprise groups composed of multi-level corporate enterprises, which has formed a complete set of collectivized management and operation system. the group is not a simple addition of various corporate enterprises, but a delicate operation of the organic structure of each corporate enterprise "machine". every corporate enterprise is a part of the "machine", and its absence or its own operation problems will affect the operation of the "machine" of the enterprise group.
based on the above understanding of state-owned enterprises, the two duties of the state-owned assets regulator should be performed by the group parent company, rather than the corporate enterprises at the second and lower levels of the group. their management should be an internal affair of the group and the power of the parent company. the state-owned assets regulator performs two duties for the parent company of the group, and the relationship it forms should be governance rather than management. its purpose is to establish an institutional arrangement for the state-owned assets regulator to effectively supervise and manage the parent company of the group as an investor, so that its business activities can meet the expectations of the investor.
source: state-owned assets supervision and administration commission of the state council