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ï»\xBF. Secondly, the SASAC will in fact state-owned enterprises listed in the general market single market, the formation of a separate state-owned enterprise market. The reason why state-owned assets management system initially state-owned enterprises and the general transformation of the company the same subject, is to market the capital market rules, market managers, and other market factors, leading state-owned companies become powerful competitors in the market. When state-owned enterprises into market trading activity, almost all of the company's major transactions - and this is a major standard vague to transfer assets must approve the name, it must be approved by the SASAC. Not only state-owned enterprises is limited, such as asset evaluation agency providing services to the SOEs, legal services, etc., also need to provide authentication services by the SASAC before. Obstruct such transactions on the market blockade, the result is: If the transaction is successful, the state-owned enterprises and trading counterparties, and compared to the general market transactions, must essentially receive a de facto price compensation; or abandon the transaction. Reality shows that a large number of disputes, state-owned enterprises once the breach, the law will rule in the name of the state-owned asset management to declare the contract null and void. In fact resulted in two different trading rules system, involving state-owned enterprises, state-owned enterprises are not involved. This reflects the design of the system when trying to adopt market rules constraint SOEs goals established under the SAC management system, completely in vain. Third, the SASAC management thinking is still in use under the planned economy, the direct intervention of the specific constraints and governance of state-owned companies, policy, state-owned companies to fulfill the requirements of a wide variety of political goals. SASAC promulgated a large number of documents related to such senior positions, salaries, employee payroll, direct welfare standards, education and training funding, staff director of the appointment, female workers work, staff quality engineering, corporate finance and other internal information management policy set; there are many open specific documents directly related to the specific case of some companies to intervene; not to mention, a lot has been to bypass the shareholders of listed companies, the Board direct replacement program executives, business scope of the change. Fourth, the SAC in its own regulatory and facilitate the creation of new institutions. In a large number of