国有金融资本管理体制:现实问题、改革目标与关键机制

State-owned Financial Capital Management System: Realistic Problems, Reform Objectives and Key Mechanisms

国有金融资本管理是国有资本管理体系的重要组成部分,亦是创新以“管资本”为主国资监管实践的新领域。现阶段,国有金融资本管理面临权责不明、授权不清、金融机构内部人控制等诸多现实问题。为突破困境,加快体制机制转型,本文根据中央最新改革精神,构建了行权主体明确、委托代理关系清晰、授权方式科学的国有金融资本管理体制;并根据金融机构是否承担国家政策性融资任务,区分中央与地方出资人主体,将国有金融资本管理体制设计为中央财政部门分类授权、中央财政部门直接管控、地方财政部门直接管控、地方财政部门集中授权四种可选模式。本文提出了健全金融机构法人治理结构、探索员工持股计划等协同机制的政策建议。

The management of state-owned financial capital is an important part of the state-owned capital management system, and it is also a new field of innovating the supervision practice of state-owned capital with u managing capitaF*. At present, the management of state-owned financial capital faces many practical problems, such as unclear power and responsibility, unclear authorization, and insider control of financial institutions. In order to break through the predicament and speed up the transformation of the system and mechanism, according to the latest reform spirit of the central govern ment ,this paper constructs a state-owned Gnancial capital management system with clear exercising subject, clear principal -agent relationship and scien tific authorization mode. According to whether the financial institutions undertake the national policy financing task, the central and local investors are dis tinguished. The state-owned financial capital management system is designed as four optional modes: the central financial department's classified authori zation ,the central financial department's direct control, the local financial department's direct control and the local financial departmenfs centralized au thorization. This paper puts forward some policy suggestions on perfecting the corporate governance structure of financial institutions and exploring the coop erative mechanism of employee stock ownership plan.