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State-owned assets operating agency's international experience (No 170, 2014)
2015-01-08
Research team on Institutional Reform of State-owned Assets Management, by Wang Huaiyu, Zhang Yongwei, and Jia Tao, Development Research Center of the State Council (DRC)
Research Report No 170, 2014 (Total 4669)
Abstract:
Temasek, Norway Government Pension Fund Global and The Electricité de France Group (EDF Group) are representatives of three types of State-owned assets operating institutions, and they have something in common as well as differences in their government-enterprise relations, internal governance, and assets management. Their experience leads to the following conclusions: first, different State-owned assets investment and operating agencies have different government-enterprise relationships and these apply under different conditions; second, State-owned enterprise policy can be applied in many ways, including special contract agreements, trusts and legal relations, the enterprise long-term development demand as well as performing shareholder's rights in State-owned enterprise; third, the internal governance and investment activities of State-owned assets agencies must be based on a market-oriented system; and fourth, a strict disclosure is indispensable in supervision.
