Government asset governance research under the perspective of public property rights

Source: "Chinese Social Sciences Digest" 2022, No. 6 P103 -P104

Author: Li Jianfa Bao Lu Lu Zhang Guoqing

Author unit: School of Management of Xiamen University, the original title "Research on Government Asset Management under the perspective of public property rights", is taken from "Journal of Xiamen University" 2022, No. 1

A way of providing public products and services to the society is to effectively use its assets. In the late 1980s, in some cities in Australia, the United Kingdom, and the United States, government asset management began to become a unique public management field. The motivation of government asset management reform is largely derived from severe fiscal pressure and limited fiscal revenue sources.

The current status and problem of asset management of our government

In recent years, especially since the 18th National Congress of the Communist Party of China, the Party Central Committee has repeatedly proposed to improve various state -owned asset management systems. In 2013, the Central Committee promulgated the "Party and Government Organs to Effective Statement of Opposition Waste -waste", which put forward a series of principles and requirements for government asset management. The Third Plenary Session of the Eighteenth Central Committee of the Party proposed to explore the preparation of the state's balance sheet, of which the clearance of the production approval is the primary step of the preparation of the government's balance sheet. The Fourth Plenary Session of the Eighteenth Central Committee of the Communist Party of China once again clearly requested that the audited coverage of public funds, state -owned assets, state -owned resources and leading cadres performed economic responsibility. The new "Budget Law" implemented in 2015 requires government financial departments at all levels to prepare comprehensive government financial reports based on the annual establishment of power and responsibility, introduce the practice of modern government asset management, and require government asset management and budget management phase. Combine. On December 30, 2017, the Central Committee of the Communist Party of China issued the "Opinions on the establishment of the State Council to report the State -owned Assets Management System to the Standing Committee of the National People's Congress", stipulating that the State Council reported to the Standing Committee of the National People's Congress each year (including enterprise state -owned assets, financial enterprises state -owned assets, financial enterprises state -owned assets, and financial enterprises state -owned assets , Administrative State -owned Assets, State -owned Natural Resources, etc.) management.

The "Comprehensive Report of the State Council on the Management of State -owned Assets in 2020" shows that in 2020, the total capital and equity of state -owned enterprises in 2020 is 9.87 trillion yuan, and the total assets of the national administrative institutions are 43.5 trillion yuan. The number of physical objects. In 2020, my country's GDP is 10.16 trillion yuan. If 2 times the GDP is estimated, there are still a large number of state -owned assets in my country that cannot be managed and reported. Therefore, by strengthening government asset management, especially the establishment of a government asset reporting system covering all government assets, it is the basic requirement for further improving national governance capabilities and levels.

Public property theory and government asset governance

Property rights are the narrow sense, possession, dominance and use rights of property, and the economic rights relationship formed by people around or through property. They can be divided into free entry property rights, public property, and private property rights. Public property rights are public and non -discharged. They are some of the power structure arrangements obtained based on the public ownership of property. The core is that the government has the responsibility to treat all citizens and restrict private property in the scope of government policies that oppose differentiation.

In our country, public property rights can be divided into various forms according to the different scope of the community, such as state -owned property rights, collective property rights, community property rights, and common property rights. These rights can be used or cannot be used, that is, state -owned property rights. The object of state -owned property rights is state -owned assets (government assets). Government assets have two dimensions: resources and property rights, and public property theory provides objective interpretation and theoretical support for the property rights behavior, property relationship and property rights management of government asset property rights.

China is a developing country with a large proportion of public resources and public economy (government assets is the main form of expression). Public property rights are dominant compared to private property rights. The main object of public property rights, government assets, is a material basis for public sector to provide public goods and public services. It can support the comprehensive development of economy, politics, society, culture, and ecology. It is also one of the source channels for fiscal revenue. Among them, most of the except natural resources assets are the stocks that have been used for capital investment in budget expenditures for more than 70 years since the founding of more than 70 years.

According to the Constitution and the Criminal Law, public property includes all property of state -owned property, the collective property of the working masses, social donations for poverty alleviation and other public welfare undertakings, or the property of special funds, and no one for anyone. Therefore, government assets mainly include state -owned property, public welfare property, and ownership property. Adopting a broad perspective of property rights, public property rights refer to the property rights belonging to all people or the property rights that belong to the government and government agencies. Further distinguish between centralized state or central government asset management and decentralized municipal or local government asset management.

Public property rights have a variety of attributes and are associated with national governance. State governance is the activities and processes of state governance using public power to manage public affairs. The target orientation of national governance is to achieve good governance, and state governance is the governance process of maximizing public interest. This means that government asset management that emphasizes engineering, technology, and operations should be expanded into government asset governance, explore the structure and reasoning behind the practice of asset management, explore how the organizational structure and strategy affect the asset management practice, how to improve the asset management principles of governance principles Practice. The basic principles of national good governance -transparent, accountability, sense of gain, effectiveness, response, participation, integrity, stability, integrity, legal, openness, and fairness, and also the goal of government asset governance as a national governance subscription. The government asset -governance mechanism can connect the owners, managers and supervisors of government assets through the principle of accountability and good governance. The role and responsibility of distinguishing and distinguishing between asset owners, competent asset authorities (personnel), asset service providers, and supervisors are the core of government asset governance. Government asset management must weigh public welfare and government to perform their duties, and at the same time, it is always responsible for the ultimate shareholders of government assets. The government should be guided by market efficiency, good rule, and corporate asset financial reports. Government asset governance should follow the development goals and use it to achieve the benefits of all people in a country. Government asset governance framework

Under the current multi -level management system of government assets in my country, all people are the ultimate owners of government assets, and the state is the owner of the government assets in the form of a formal sense. The state -owned assets management department is the representative of the government asset owner. The competent department is the supervision and manager of government assets. The administrative unit, institution, and state -owned enterprises are the occupied (control) of state -owned assets. Therefore, there is a multi -layer commissioned agency relationship arrangement in my country's government asset property rights. In order to ensure that the public sector follows the optimal interests of the client and maximizes government asset performance and public value, it shall follow the national governance chain to carry out government asset management under the chain of trust responsibility.

1. Legislators and regulators. Legislators and regulators are responsible for establishing rules and instructions on organizational operations. They should contribute to the realization of public asset governance by ensuring the quality of legislation and the principle of good governance.

2. Government. In order to protect public assets, the government can set up special departments or institutions responsible for public asset management. In our country, the people's governments at or above the county level shall establish and improve the unified management mechanism, and strengthen the leadership of the asset management of the government at the level and the administrative region. The competent authorities such as the Ministry of Natural Resources, the Ministry of Housing and Urban -Rural Development, the Ministry of Transportation, the Ministry of Water Resources, the Ministry of Culture and Tourism, and the Ministry of National Defense perform the supervision responsibilities. Perform specific management.

3. Public office staff in the public sector. Public officials of the public sector are responsible for establishing an effective control environment in their organizations, and should be responsible for reporting problems in operation, non -compliance or violation of policies of behavioral rules. Management should introduce sufficiently clear and accurate regulations to expand the openness and transparency of the procedure. Relevant departments shall abide by the principles of obtaining relevant interest information in the public expenditure framework.

4. Government audit organs. Government audit institutions help the establishment of government assets' integrity, transparency and accountability and public confidence through the supervision, accountability and governance of public sector assets. Government audit organs are key mechanisms in the horizontal accountability system of government assets. The focus is on the activities of public officials and institutions responsible for government asset management. Article 24 of the Audit Law of the People's Republic of China after October 2021 stipulates that the audit organs have audited and supervised state -owned resources and state -owned assets, and government asset audits are officially included in the category of government audit legislation.

5. Internal auditors. Internal auditors are part of the internal control framework of government organizations and are key tools for preventing corruption and other illegal behaviors in public organizations. The internal control system should ensure the integrity, transparency, accountability, and other principles of government assets.

6. Other external interests. For example, non -governmental organizations, media, etc. have also played an important role in the process of enhancing the principles of integrity, transparency, accountability, and other assets.

Government asset governance is a complex system project, and various governance mechanisms need to actively excavate and cultivate. Governments and government units at all levels shall tailor -made detailed government asset -governance policy frameworks on the basis of considering relevant laws and regulations, organizational structures, cultural backgrounds, and human resources capabilities, and put into practice. Comprehensive, systematic, and efficient government asset governance involves the subjects such as administrative, public institutions, state -owned enterprises, and even private enterprises and individuals at all levels. The active participation of other various types of stakeholders such as the National People's Congress, Government Audit Institutions, Discipline Inspection and Supervision, and Media.

- END -