By Wang Biqiang
Published: 2008-01-10

The third is the law’s definition of state-owned asset. Whether to pass a broad state-owned assets law or a limited one has yet to be decided. Some members think the draft is appropriate, but others maintain that it should be broader and should figure in administrative and resource-based state-owned assets.

The fourth issue concerns the state-owned asset management system. During the discussion, the members didn’t speak of the core issue—the role of SASAC. This is because it is at a politically sensitive time. After the 17th Party Congress, no official would talk about this issue. And before the National People’s Congress and Chinese People's Political Consultative Conference, the issue didn't reach a consensus. As a result, the role of SASAC was avoided.

However, some members did say something about the state-owned asset management system. For example, some suggested that the NPC should supervise state-owned assets, and that SASAC should separate its public functions from commercial ones.

The fifth point involves the process of managing state-owned assets operation, including administration, and policy-making. This is mainly related to the state-owned asset investor’s interests, including the disclosure of important information, the procedure of state-owned asset restructuring, transfer, and sale, and other issues of fairness thereof.

The sixth issue is duties and responsibilities of those managing state-owned assets. This refers to the identities, rights, obligations, and legal responsibilities of board members, supervisors, the board of directors and board of supervisors, and senior managers.

The last is the issues about legal responsibilities, state-owned assets operation budgeting and correlation with other laws.

The questions put forward by members point out the main difficulties and key issues of the law, and reflect concerns from many circles of society. They are the most contentious, and are not on the same level.

From a scholar's point of view, every law should aim to solve the most significant social contradictions and also adjust interests. Every law should have a legislative core. Some members think the state-owned assets law should strengthen the power of socialism and maintain or increase the value of state-owned assets.

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