The property right of enterprise legal person is neither ownership by the enterprise legal person the operation right but the enterprise commissioned ownership to the legal person. The operational right from is not the right to property but the right to economic functioning. "The separation of ownership operational right"is not the separation of property right but the alienation of ownership and economic functioning right. "The separation of ownership and operational right"is to be developed into the separation of ultimate ownership and commissioned ownership,the separation of ultimate owner-ship and operational right and the combination of commissioned wnership with operational right. The reform of SOE property right system should be rhc return of enterprise property commissioned owner-ship rightly controlled by rhc local governments and rhc higher authorities ro the enterprises. That is ro say the conversion of actual "local (secrorial)ownership"ro enterprise ownership.
