The State-owned Assets Supervision and Administration Commission (SASAC) is funded by the local government, and performs the responsibilities of the investor. Its function is to control other enterprises and receive state-owned assets in the first-level restructuring.
The management of state-owned assets refers to a series of planning and decision-making activities carried out by the owners and agents of state-owned assets in order to ensure the optimal allocation and rational utilization of state-owned assets, improve the economic, social and ecological benefits of management, realize the preservation and appreciation of state-owned assets and give full play to their leading position in the national economy.
The state-owned capital operation company is a legal person enterprise authorized by the state to operate state-owned capital. It is a state-owned capital operation company established by allocating the equity of existing state-owned enterprises, that is, a company that focuses on capital operation and does not invest in industry. The business object is state-owned capital (share capital), including the property rights of state-owned enterprises and the ownership of corporate enterprises in China. The operation is mainly in the capital market, which can not only raise funds (issue stocks) in the capital market, but also improve the distribution structure and quality of state-owned capital by selling equity property rights.
The operation of the company emphasizes the circulation of capital and pursues capital appreciation in sports. There are various forms of operation, and the preservation and appreciation of state-owned capital are realized through capital operation. Quoted from Nanjing Zhuo Yuan.
Characteristics of state-owned enterprises:
Although state-owned enterprises engage in production and business activities for profit, they also have non-profit purposes, or not for profit. State-owned enterprises should implement the national planned economic policy and undertake the national economic management function (regulating social economy).
For some important industries and products, knowing that they can't be profitable in a certain period of time, they still need, or more need, state investment to start enterprises, and civil society is willing to invest when their operations can be profitable or have high profitability. At this time, the state can often reduce investment or even withdraw from these fields.
legal ground
Company Law of the People's Republic of China
Article 64
The provisions of this section apply to the establishment and organization of wholly state-owned companies; Where there are no provisions in this section, the provisions in the first and second sections of this chapter shall apply.
A wholly state-owned company as mentioned in this Law refers to a limited liability company which is solely funded by the state and authorized by the State Council or the local people's government to perform the responsibilities of the investor.