Wholly state-owned enterprises refer to unincorporated economic organizations registered in accordance with regulations, excluding wholly state-owned companies in limited liability companies.
Is a wholly state-owned enterprise a state-owned enterprise?
State-owned enterprises, also known as enterprises owned by the whole people, are socialist commodity production and business units that operate independently according to law, are responsible for their own profits and losses, and have independent accounting.
State-owned enterprises include four aspects,
One is a wholly state-owned enterprise, which may be a company system, not necessarily a joint-stock system.
Second, state-owned holding enterprises.
A third country owns a relatively controlled enterprise,
Fourth, state-owned enterprises that are relatively controlled are called state-owned enterprises.
To sum up, a wholly state-owned enterprise means that all the assets of the enterprise are owned by the state, and the state authorizes the enterprise to operate and manage according to the principle of separation of ownership and management rights. A wholly state-owned enterprise shall obtain legal person status according to law, operate independently, be responsible for its own profits and losses, conduct independent accounting, and bear civil liability with the property authorized by the state to operate and manage.
Legal basis:
Company Law of the People's Republic of China
Article 66
A wholly state-owned company does not have a shareholders' meeting, and the state-owned assets supervision and administration institution shall exercise its functions and powers. The state-owned assets supervision and administration institution may authorize the board of directors of the company to exercise part of the functions and powers of the shareholders' meeting and decide on major issues of the company, but the merger, division, dissolution, increase or decrease of registered capital and issuance of corporate bonds of the company must be decided by the state-owned assets supervision and administration institution; Among them, the application for merger, division, dissolution and bankruptcy of an important wholly state-owned company shall be examined by the state-owned assets supervision and administration institution and reported to the people's government at the same level for approval. The important wholly state-owned companies mentioned in the preceding paragraph shall be determined in accordance with the provisions of the State Council.