How to deepen the reform of property right system of rural credit cooperatives?

The Decision of the Central Committee on Several Major Issues in Promoting Rural Reform and Development puts forward: "Improve the corporate governance structure of rural credit cooperatives, keep the corporate status of county (city) cooperatives stable, and play the role of serving farmers as the main force", which is the future development orientation and basic requirements of rural credit cooperatives. The property right system of rural credit cooperatives is a fundamental problem in deepening the reform of rural credit cooperatives. We should fully learn from the experience of advanced enterprise property right system reform, and explore and improve the corporate governance structure suitable for rural credit cooperatives.

First, the reform of property rights system has achieved initial results.

Since the establishment of Jilin Rural Credit Cooperatives Union, the reform of property rights system has been the key to all reforms. After years of hard work, the reform of property rights system has achieved remarkable results. First, increase capital and share, and standardize the share capital. Adhere to the correct financing direction, implement the equality of rights and responsibilities, optimize the equity structure, maintain the stability of equity, and promote the further reform of the property rights system. Second, do a good job in the formation of unified legal person associations, cooperative banks and commercial banks. The former Gongzhuling Association was restructured into Jilin Gongzhuling Rural Cooperative Bank, and the former Yanji, Longjing and Tumen Associations established Yanbian Rural Cooperative Bank. Jilin Jiutai Rural Commercial Bank has been listed for business, and the restructuring of Changchun Joint Business Department into a rural commercial bank has been reported to the CBRC. County cooperatives such as Shuangyang and Lan Shu have reached or approached the standards of rural commercial banks. The third is to implement national support policies and cash special bills. The special bills of county-level institutions in the province were basically paid, with the payment capital of 50160,000 yuan, accounting for 98. 1% of the total bill issuance. The fourth is to set a three-year goal of turning losses into losses, resolve historical burdens, and strive to reach the standard of establishing a business firm. By the end of 2008, 43 of the 48 county-level cooperatives that suffered losses over the years had completed the task of turning losses, with a cumulative loss of 3/kloc-0.40 billion yuan in three years, exceeding the plan by 250 million yuan.

Second, the problems existing in the property right system of rural credit cooperatives

Perfect corporate governance structure is the institutional guarantee for modern enterprises to make correct decisions and prevent major decision-making mistakes. In the long-term development process, rural credit cooperatives constantly strive to modernize the corporate governance structure, but there are still some problems in democratic management, equity distribution, incentive supervision and so on.

(A) members of rural credit cooperatives are not the real owners of credit cooperatives. Shareholders of credit cooperatives do not exercise any rights in the management of credit cooperatives and are not bound by legal persons, so they do not bear any responsibility for the business risks of credit cooperatives, and are not the real owners of credit cooperatives. Due to unclear property rights, unclear powers and responsibilities, no fixed guardian of property rights, lack of effective incentive and restraint mechanism in governance structure, and lack of motivation to control subjects and objects.

(B) The ownership and management rights of rural credit cooperatives do not match. Although the majority of shareholders own most of the ownership of rural credit cooperatives, they basically lose the corresponding authorization such as supervision, participation, management and decision-making power because of the scattered equity and small amount of capital per share.

(C) Rural credit cooperatives "three meetings" become a mere formality. The "three meetings" are: member congress, board of directors and board of supervisors. First of all, because the representatives of the members of the credit cooperatives don't know much about the basic situation of the management of the credit cooperatives, some members' representatives are not of high quality and lack the ability to participate in the decision-making of the credit cooperatives, which makes the members' congress a mere formality. Secondly, the power restriction mechanism of management decision-making level has not been fully established. Finally, the supervisory role of the board of supervisors has not been brought into full play, and the working procedures and system guarantees of the board of supervisors have not been established, and they have not played their due supervisory role.

Third, the property right system reform of rural credit cooperatives.

To clarify the property rights of rural credit cooperatives, we should make overall consideration from the aspects of perfecting corporate governance structure, transforming operating mechanism, solving historical financial burden, creating a good faith environment, defining reform objectives and being conducive to preventing risks. The main goal is to solve the problem of investors in place and avoid the dispersion of equity and false placement of equity; Solve the problem of setting up the board of directors, the board of supervisors and the management, and establish a real corporate governance structure.

(1) Clarify the property right relationship. The best choice for property right reform is to set up rural commercial banks. The corporate governance structure of rural credit cooperatives under the mode of rural commercial banks is to convert the equity capital of rural credit cooperatives into the equity capital of rural commercial banks on the basis of equality and voluntariness, and rebuild the internal governance structure of rural commercial banks by raising equity capital, with social legal persons, natural persons in the system and employees holding shares in a certain proportion respectively. The reform of rural credit cooperatives into rural commercial banks can realize the separation of ownership, management and supervision. The standardized joint-stock system clarifies property rights, strengthens the restraint mechanism, and the profits and risks are shared and borne by shareholders according to the proportion of capital contribution, effectively solving the problem of the real absence of owners of rural credit cooperatives. First of all, we should appropriately increase the concentration of equity. Major shareholders should be relatively concentrated, with 5% for a single legal person and 2% for a single natural person, and both legal persons and natural persons should reach the maximum shareholding ratio. Second, we should introduce strategic investors and operate the listing. Adhere to market orientation, accelerate the strategic cooperation, regional alliance and merger and reorganization among rural cooperative financial institutions within and between provinces, and carry out business cooperation and capital alliance. Encourage and support domestic and foreign financial institutions to strategically invest in rural credit cooperatives, broaden the sources of institutional funds, and effectively improve the shareholding structure, so that rural credit cooperatives can truly become independent market entities with self-restraint, self-development, self-financing and self-risk, and operate and list when the time is ripe.

(2) Improve the corporate governance structure of rural credit cooperatives. In accordance with the goal of "respective responsibilities, coordinated operation and effective checks and balances", reform the "three meetings" system and fully implement the "three long" system of chairman, directors and supervisors. First, improve and expand shareholders' rights through effective forms, and set up a standing Committee of shareholders' meeting to be responsible for shareholders' meeting affairs. Hold regular shareholders' meetings, return power to shareholders, and submit major issues such as the reform and development of rural credit cooperatives, the promotion and revocation of senior managers to shareholders for discussion and decision. Its operation should be announced to the public, fully absorb the good opinions and suggestions of shareholders participating in democratic management, and report the problems and queries raised by shareholders. The second is to separate the chairman and directors, and clarify their specific obligations, responsibilities and powers. The chairman has the right of decision-making, supervision and guidance, and the director has the right of daily management. In daily operation, he should strictly follow the rules and accept the supervision of the chairman. The third is to establish a veritable supervisory board system and give the supervisory board greater power. For example, the right to audit business and finance, the right to supervise management, and the right to veto major decisions of the chairman and directors. , so that the board of supervisors can exercise its functions and powers without being restricted by the chairman and directors. At the same time, the board of supervisors should listen to and collect the suggestions of shareholders, listen to the feedback from all walks of life on rural credit cooperatives, put forward suggestions for improvement to the board of directors and directors in a timely manner, and be responsible to the shareholders' meeting and all shareholders. At the same time, it is necessary to strengthen the party's leadership, clarify the position of the party secretary as the "number one", coordinate the work of the "three meetings" and "three long meetings" that are difficult to solve and operate by the party Committee, and unify the reform and development of credit cooperatives.

(3) Changing the management mechanism of rural credit cooperatives. The fundamental purpose of the property right reform of rural credit cooperatives is to establish an operating mechanism that balances decision-making, management and supervision, and combines incentives and constraints. It is necessary to prevent the problem of "changing the soup without changing the medicine" that only pays attention to the change of organizational form and ignores the change of internal mechanism. In the case of relatively sound rules and regulations and relatively coordinated relations in all aspects, we should focus on establishing effective restraint mechanisms and incentive mechanisms. First, strengthen the construction of internal control mechanism to prevent risks. Standardize business processes and post responsibility system, straighten out and improve the supervision system, strengthen authorization (credit) management and capital constraint management, implement the accountability system, and strengthen internal audit. The second is the rational allocation of human resources. Taking talent absorption and training as the top priority of all work, we should not only base ourselves on the training of existing talents, but also increase the intensity of talent introduction. Senior managers of rural credit cooperatives should adhere to the principle of meritocracy, objectivity and fairness, and implement open recruitment and comprehensive evaluation. Promote the reform of the labor and employment system, let employees compete for posts, continuously improve the overall quality of the team through on-the-job training, and make the best use of their talents, thus improving the corporate governance environment. Third, vigorously promote the reform of the salary system. Distribution according to work, performance pay, positive incentive, performance appraisal. Really establish a governance structure and operational mechanism that checks and balances decision-making, management and supervision, and combines incentives and constraints to promote the rapid development of business and the fundamental improvement of operating efficiency. The fourth is to strengthen internal rules and regulations and work norms. To strictly regulate the financial management system, every important expenditure should be determined according to the needs of the work, and the expenditure should be strictly controlled and effectively supervised through the "three meetings". In the daily operation and management, we should strictly abide by the relevant systems, in addition to being effectively supervised by the "Three Meetings", we should also strengthen the sense of self-discipline, constantly explore new business, actively use scientific and technological means, improve office efficiency, and better serve "agriculture, countryside and farmers".

(4) Improve the ability level of senior executives. First, quality assurance, that is, to ensure that the quality of senior executives conforms to the characteristics of the industry and has the ideological and moral, cultural knowledge and business skills that are competent for the work of the industry; The second is the code of conduct, that is, to establish strict business operation procedures, strictly follow the rules, guide senior executives to be responsible for their own actions, and unify personal goals with group goals. At the same time, it is necessary to strictly investigate the responsibility and expose it to the public in order to maintain the seriousness of the code of conduct and cultivate professional ethics; The third is to stimulate the potential, so that the behavior of executives can not only conform to the policy framework, but also give full play to the intelligence of executives; The fourth is moral punishment. Every senior executive should be responsible for the consequences of his actions, punish those who violate the rules and brew risks, and move the front line of preventing and resolving financial risks to the source of risks.

(V) Clarify the strategic objectives of corporate governance of rural credit cooperatives. The depth of the reform is property rights, and the ultimate goal of deepening the reform of rural credit cooperatives is to build rural credit cooperatives into market entities with "independent operation, self-restraint, self-financing and self-risk" through property rights reform. In the next few years, a five-year property rights compliance plan will be formulated with the shareholding system reform as the direction and the goal of entering the capital market. According to the principle of unification before division, the county-level cooperatives in the province will be transformed into rural commercial banks in five years. Through the establishment of rural commercial banks to solve the problems left over from history, through property rights reform to improve the provision, unite people, motivate employees, and form a good development atmosphere.