Author(s)

Zhao Chong ¹

Affiliation(s)

¹ Zhengzhou Railway Vocational & Technical College, Zhengzhou, 450000, China

Corresponding Author

Zhao Chong

ABSTRACT

In 1978 China promulgated national policy, Reform and Opening. Chinese economy began transformation. Social market economy with Chinese characteristics was established replacing plan economy and had been improved continuously in 40 years. During the process of Reform and Opening, the State-Owned Enterprises as backbone of Chinese economy had also experienced a lot of changes. After the establishment of market, some SOEs was granted autonomy, and some SOEs experienced privatization or merger and acquisition. Now Chinese SOEs are divided into commercial SOEs and strategical SOEs. Their size is getting bigger and financial performance is improved continuously. However, SOEs are still facing many problems. The reform of SOEs still has a long way to go. Therefore, this article mainly describes the reform process of China's state-owned enterprises, the problems faced at each stage, and the current reform direction.

KEYWORDS

State-Owned Enterprises; Reform and Opening; Reform Process

CITE THIS PAPER

Zhao Chong, The State-Owned Enterprises of China: Reform Process. Accounting and Corporate Management (2023) Vol. 5: 66-71. DOI: http://dx.doi.org/10.23977/acccm.2023.050507.

REFERENCES

[1] Will Kenton. (2020). What Is a State-Owned Enterprise (SOE), and How Does It Work?
[2] University of Alberta. (2018). state-owned enterprises in the Chinese economy today: Role, Reform, and Evolution. Government of Alberta.
[3] Naughton. (2007). The Chinese Economy: Transitions and growth. MIT Press.
[4] Song L. (2018). State-owned enterprise reform in China: Past, present and prospects. In L. S.
[5] Mattlin M. (2007). The Chinese government's new approach to ownership and financial control of strategic state-owned enterprises. BOFIT Discussion Papers.
[6] Jefferson G. H. (2017, March 3). State-Owned Enterprise in China: Reform, Performance, and Prospects. Brandeis University.

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