Reform of state-owned enterprises: a three-year disconnect from diffi culties leads to system innovation
The reform of China’s state-owned enterprises (herein referred to as SOEs) is central to the entire process of Chinese economic restructuring – from its orientation, momentum, and smooth development, to its progress and achievements. Up until now, Chinese SOEs have been number one in the world for their large quantity, extensive distribution, enormous assets value, strong functions, and deep historic roots. Naturally, therefore, the future and destiny of Chinese SOEs has attracted a great deal of attention worldwide. In the 10 years since the Asian Financial Crisis, what changes have taken place in Chinese SOEs and what are the future trends? This paper seeks to review, analyze, and explore these questions.