An Analysis of the New Governance Structure for State-Owned Enterprises Confirmed by the “<i>Company Law</i>”

2023年修订的《公司法》创新性地提出了国家出资公司概念，意味着公司法重新确立了一种公司形态与治理体系。国家出资公司在公司类型、出资人地位、治理结构等方面与其他公司类型相比具有特殊性面像：就治理结构而言，准许多重主体投资，呈现股权结构的多元化；就出资人职能而言，呈现从管公司转向管资本的变化；就决策权行使方式而言，更加强化党组织在国家出资公司中的作用。国家出资公司呈现出了党组织参与公司治理、董事会中心主义和外部董事这三种治理结构新形态。基于此，立足于对该类公司设立的新理念和新形态，从治理主体职权范围、责任制度、职工民主管理和多方利益衡平四个角度分别进行理论检视，并提出制度完善建议，以求推动国家出资公司治理制度体系建设，完善中国特色现代企业制度。The revised “Company Law” of 2023 innovatively put forward the concept of state-funded company, which means that a new corporate form and governance system has been established in the Company Law. State-funded companies have special features compared with other types of companies in terms of company type, status of funders, and governance structure: in terms of governance structure, it permits investment by multiple subjects and presents a diversified shareholding structure; in terms of the function of funders, it presents a change from managing the company to managing the capital; and in terms of the way of exercising decision-making power, it strengthens the role of the party organization in the state-funded company. The state-funded company presents three new forms of governance structure, namely, the party organization’s participation in corporate governance, board of directors’ centrism and outside directors. Based on this, the author based on the new concept and new form of the establishment of this kind of company, theoretically examines the terms of reference of the governing body, the responsibility system, the democratic management of the employees and the equilibrium of the interests of the multiple parties from four perspectives, and puts forward suggestions for the improvement of the system, in order to promote the construction of the governance system of the state-funded company and improve the modern enterprise system with Chinese characteristics.