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The Unfinished Business of State-owned Enterprise Reform in the People’s Republic of China

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  • Holz, Carsten A.

Abstract

This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE profitability in the early 1990s. The oil industry serves to illustrate industry-specific SOE reform trends as well as the latest reform developments. Until today, a stable, successful, long-term arrangement of state ownership has remained elusive. SOE reform is incomplete as long as a number of fundamental governance issues are not resolved. But these are difficult to resolve in the context of Party-controlled state-owned enterprises.

Suggested Citation

  • Holz, Carsten A., 2018. "The Unfinished Business of State-owned Enterprise Reform in the People’s Republic of China," MPRA Paper 94093, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:94093
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    References listed on IDEAS

    as
    1. McNally Christopher A., 2002. "Strange Bedfellows: Communist Party Institutions and New Governance Mechanisms in Chinese State Holding Corporations," Business and Politics, De Gruyter, vol. 4(1), pages 1-26, April.
    2. Paul H. Malatesta & Kathryn L. DeWenter, 2001. "State-Owned and Privately Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity," American Economic Review, American Economic Association, vol. 91(1), pages 320-334, March.
    3. Nicholas R. Lardy, 2014. "Markets over Mao: The Rise of Private Business in China," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6932.
    4. Brandt, Loren & Zhu, Xiaodong, 2010. "Accounting for China's Growth," IZA Discussion Papers 4764, Institute of Labor Economics (IZA).
    5. W. Raphael Lam & Alfred Schipke & Yuyan Tan & Zhibo Tan, 2017. "Resolving China's Zombies: Tackling Debt and Raising Productivity," IMF Working Papers 17/266, International Monetary Fund.
    6. McNally, Christopher A., 2002. "Strange Bedfellows: Communist Party Institutions and New Governance Mechanisms in Chinese State Holding Corporations," Business and Politics, Cambridge University Press, vol. 4(01), pages 91-115, April.
    7. Xu, Xiaonian & Wang, Yan, 1999. "Ownership structure and corporate governance in Chinese stock companies," China Economic Review, Elsevier, vol. 10(1), pages 75-98.
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    More about this item

    Keywords

    State-owned enterprise reform; People’s Republic of China; corporate governance; public enterprise management; Chinese Communist Party; state-owned asset management; industrial policy;

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • P00 - Economic Systems - - General - - - General
    • P26 - Economic Systems - - Socialist Systems and Transition Economies - - - Political Economy
    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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