Implications and References of State-owned Assets Reform for the Separation of"Two Rights"in Natural Resource Assets
China's state-owned assets management system has undergone a reform process from centralization to decentralization and back to centralization.During this process,the State Council established the State-owned Assets Supervision and Administration Commission(SASAC),gradually shifting the focus of state-owned assets management from enterprise-centric management to capital management,exploring a path for separating ownership and regulatory power of state assets.Given the strong similarities between natural resource assets management and state-owned assets management,the pivotal role played by state-owned asset investment and operation companies in facilitating the separation of"two rights"in state-owned assets provides valuable implications and references for separating ownership and regulatory power in natural resource assets.Following the completion of pilot projects on the principal-agent mechanism in natural resource assets management,it is recommended to gradually shift from"resource management"to"asset management",authorizing the establishment of natural resource investment and operation companies.This approach aims to achieve effective separation of"two rights"in natural resource assets by transitioning from the two-tier management system of"natural resource departments—natural resource assets"to a three-tier system of"natural resource departments—natural resource investment and operation companies—natural resource assets",with a view to offer reform ideas and references for effective supervision and asset appreciation of natural resource assets.
state-owned assets reformnatural resource assets"two rights"separationinvestment and operation companies
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