The Analysis of Orientation: the Reform of State-owned Capital Management System

According to modern property rights theorems, it would be an effective arrangement only when, regardless of the original attribution, the property rights are well defined. But defects in China's state-owned capital management leads to non-defined state-owned property rights, which in turn results in ineffectiveness of state-owned property rights institution. Therefore, innovates should be introduced into state-owned property rights institution and reforms should be conducted in state-owned capital management.