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Can the Socialist Market Economy in China Adhere to Socialism?


  • Fusheng Xie

    (School of Economics, Renmin University of China, Beijing, China)

  • An Li

    (Department of Economics, University of Massachusetts, Amherst, USA)

  • Zhongjin Li

    (Department of Economics, University of Massachusetts, Amherst, USA)


The recent round of debate over China’s state and private economy has fundamentally touched upon whether or not China should abandon or strengthen the socialist elements within the market economy. In this paper, we argue that the debate is, in essence, a continued class struggle in the political and ideological superstructure. Then we discuss the foreseeable future of state-owned enterprises (SOEs) under current political and economic conditions. We will further propose the necessary reforms for the SOEs to move towards a truly socialist form of public ownership.

Suggested Citation

  • Fusheng Xie & An Li & Zhongjin Li, 2013. "Can the Socialist Market Economy in China Adhere to Socialism?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 45(4), pages 440-448, December.
  • Handle: RePEc:sae:reorpe:v:45:y:2013:i:4:p:440-448

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    More about this item


    market economy; socialism; Chinese economy; state-owned enterprises;

    JEL classification:

    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
    • P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions


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