what is a state owned enterprise in china
State-owned enterprise After 1949, all business entities in the People's Republic of China were created and owned by the government. In the late 1980s, the government began to reform the state-owned enterprise, and during the 1990s and 2000s, many mid-sized and small sized state-owned enterprises were privatized and went public. There are a number of different corporate forms which result in a mixture of public and private capital. In PRC terminology, a state-owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company.[citation needed] State-owned enterprises are mostly governed by both local governments' SASAC and, in the central government, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. However, some state-owned enterprise were governed by China Investment Corporation (and its domestic arm Central Huijin Investment), as well as under the governance of Ministry of Education for the university-run enterprises, or some financial institutes that were under the governance of the Ministry of Finance.
Economic nationalism While the coining of the term "
China China, officially the People's Republic of China (PRC), is a unitary sovereign state in East Asia and the world's most populous country, with a population of around 1.404 billion.[13] Covering approximately 9.6 million square kilometres (3.7 million square miles), it is the world's second-largest state by land area[19] and third- or fourth-largest by total area.[j] Governed by the Communist Party of China, it exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing) and the Special Administrative Regions Hong Kong and Macau, also claiming sovereignty over Taiwan. China is a great power and a major regional power within Asia, and has been characterized as a potential superpower.[20][21]
Chinese economic reform After three decades of reform, China's economy experienced one of the world's biggest booms. Agriculture and light industry have largely been privatized, while the state still retains control over some heavy industries. Despite the dominance of state ownership in finance, telecommunications, petroleum and other important sectors of the economy, private entrepreneurs continue to expand into sectors formerly reserved for public enterprise. Prices have also been liberalized.[38]