How can China s state owned enterprises establish a modern enterprise system?

The basic premise of the establishment of a modern enterprise system is the separation of the ultimate ownership of assets from the property rights of legal persons.

Modern enterprise system refers to a new type of enterprise system based on the market economy, with a perfect enterprise legal person system as the main body, a limited liability system as the core, a company as the main form, clear property rights, clear rights and responsibilities, separation of government and enterprises, and scientific management.

The main forms of modern corporate enterprises are limited liability companies and shares. The characteristics of the company system are that the company's capital is extensive, which makes it possible to produce large and medium-sized molds; The investor only has limited liability for the company, and the investment risk is relatively reduced; The company has independent legal person property rights, which ensures the independence, continuity and integrity of corporate decision-making; The separation of ownership and management rights has laid the foundation for scientific management.

1. The assets of the enterprise have a clear physical boundary and value boundary, and the first-class institution has a definite authority to exercise the function of the owner on behalf of the state, and effectively assume the corresponding responsibilities of the investor.

2. Enterprises usually implement the company system, that is, limited liability companies and joint-stock companies, in accordance with the requirements of the "Company Law", the formation of an interdependent and mutually balanced corporate governance structure composed of the shareholders' congress, the board of directors, the board of supervisors and senior managers, and operate effectively.

3. The enterprise takes production and operation as its main function, has a clear profit target, managers at all levels and general employees obtain income according to business performance and labor contributions, and housing distribution, pension, medical care and other welfare undertakings are undertaken by the market, society or ** institutions.

4. The enterprise has a reasonable organizational structure, and has formed an effective internal management system and mechanism in production, supply and marketing, finance, research and development, quality control, labor and personnel, etc.

5. Enterprises have rigid budget constraints and reasonable financial structure, and can seek the expansion of enterprises through acquisitions, mergers, alliances, etc., and seek the reallocation of assets and other production factors through bankruptcy and merger when the operation is not good and unsustainable.

The basic characteristics of the modern enterprise system: clear property rights, clear rights and positions, separation of government and enterprises, and scientific management. The modern enterprise system mainly includes three aspects:

The first is the enterprise legal person system. It is the core of the modern enterprise system. The enterprise legal person system is the separation of ownership and management rights of enterprises, and enterprises have management rights (legal person property rights) and can independently dispose of the property of enterprises under the premise of assuming responsibility to the owners.

The second is the limited liability system. The implementation of the limited liability system is an important feature of the modern enterprise system. The limited liability system has two macro implications:

First, the enterprise is limited to the entire property of the legal person and bears limited liability for debts; Second, when an enterprise goes bankrupt to pay off its debts, the investor only bears limited liability to the enterprise with the capital invested in the enterprise.

The third is a scientific organizational system. Modern enterprises coordinate the relationship between owners and operators by establishing a scientific organizational system.