“The Socialist (Public) Logic”in the Reform of the Company Law

[26]蒋大兴.废除国资委?——一种理想主义者的“空想”[J].

清华法学，2016，10（6）：84-100.

[27]CHOW DANIEL C K.Economic nationalism：u.s. and chi⁃ nese style[J].Ohio state business law journal，2020（1）：114. [28]马晓河.国企应在房地产等领域退足退够[J].山东经济战

略研究，2016（4）：4. [29]许汉友，赵悦，汪璐璐.境外直接投资对CPA

审计质量的影响——来自国企的相关证据[J].财会通讯，2020（3）： 23-28.

[30]卫秋转.国企EVA

业绩考核体系对过度投资的影响效应研究[J].金融经济，2018（24）：58-60. [31]刘雪红.中国海外投资保护的法律障碍与制度重构——基于北京城建诉也门等五案的分析[J].华东政法大学学报，2019，22（2）：168-180.

[32]LONG T T.Anti- competitive behavior of state monopolies from the economics approach with reference to vietnam's state monopolies[J].Asian journal of law and economics， 2019（10）：1-11. [33]MULLADY R K.Regulatory disparity：the constitutional implications of communications regulations that prevent competitive neutrality[J].Pittsburgh journal of technology law & Policy，2007（7）：1-20.

[34]LEE J.Trade agreements' new frontier - regulation of state-owned enterprises and outstanding systemic challeng⁃ es[J].Asian journal of wto and international health law and policy，2019（14）：33-72. [35]蒋大兴.国资监管职能的重组——如何应对国企外派监事会的取消?[J].南开学报（哲学社会科学版），2019（3）： 86-99.

[36]VAN B J.Golden shares：anew approach[J].European com⁃

pany law，2010（7）：13-19.

[37]SZYSZCZAK E.Golden shares and market governance[J].

Legal issues of economic integration，2002（3）：255-284. [38]KUZNETSOV I.The legality of golden shares under eclaw [J].Hanse law review，2005（1）：22-29.

责任编辑：林英泽

（Law School，Peking University，Beijing 100871，China）

Abstract：The reform of state-owned enterprises (SOEs) should bethecritical issue in the revision of the Company Law of the People’s Republic of China (the Company Law). But the academic community does not seem to attach importance to improving the SOE system in the reform of the Company Law，as if the destination of the state- owned enterprise reform is to reduce or eliminate the SOEs，or to further privatize them.And this kind of reform logic is not consistent with the Constitution.We should pay attention to the constitutional design of the public economic form，especially the status of SOEs，and further consolidate the constitutional status of SOEs through the reform of the Company Law. First，in terms of the legal adjustment mode，the optimal mode for theSOEs is to formulate the Public Enterprise Law；and the second-best mode is to set up a special chapter for public enterprises in the Company Law；and in any case，the National Enterprise Law should be abolished，and the Law on State- owned Assetsin Enterprises should be amended. Second，the concept of SOEs should be reconstructed；the complicated types of SOEs in real life should beselectively defined；the scope of adjustment of the SOEs under the Company Law should be expanded；and the existence field of SOEs should be clarified in a legal wayso that the SOEs can mainly servepromoting national innovation and meeting the needs of people's livelihood，and the existing problem of the completely ineffective "main business control" should be solved. Third，the internal governance of SOEs should be optimized by flattening the level of corporate governance，optimizing the way in which party organizations participation，recognizing the legal status of external directors，and empowering companies to set up independent supervisory boards.And fourth，we should improve the external governance of SOEs by strengthening investor supervision and public participation；and in view of the fact that stateowned asset supervision has shifted from“asset management”to“capital management”，the State-owned Assets Supervision and Administration Commission (SASAC) hasbeen more in name than reality，and its name should be changed as soon as possible.In view of the fact that the state-owned assets held by the SASAC are“public shareholder rights”that are different from common shareholder rights，we shouldfollow the power structure of the Securities Regulatory Commission and expand the power of investors in the SASAC by legislative means，and give the SASAC special investigation and sanction power on SOEs；and we should establish a unified online information disclosure platform，and establish a citizen representative litigation system or a citizen group representative litigation system to facilitate citizens to conduct litigation supervision on the abuse of power by directors and executives of SOEs.Only in this way will we see a completely different world of SOEs.

Key words：the constitution；SOEs；SASAC；the company law；the public enterprise law