The governance of state-owned enterprises(SOEs)is a focus area of China's Company Law.In the governance structure of SOEs,the overlapping powers of institutions that exercise investor rights,the party committee,the board of directors,and other governance institutions might lead to issues such as unreasonable responsibility assumption.It is urgent to clarify the allocation of powers and responsibilities in SOE governance.The paper argues that,given the need to achieve the institutional goals of"clear property rights,defined responsibilities,separation of government and enterprise,and scientific management"for SOEs,mediate multiple conflicts of interest,and ensure the exemption of government civil liability,the board of directors should be regarded as the decision-making power center of SOEs.To this end,it is necessary to improve and strengthen the board of directors,ensuring that under the leadership of the investment institutions and party committee,it exercises business decision-making power and supervises the management with the purpose of achieving the sustainable development of SOEs,thereby fulfilling the economic and policy objectives of SOEs.
state-owned enterprisesparty committeeboard of directorspower allocationresponsibility distribution
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维普
