ABSTRACT
The emergence and development of large corporations have attracted the attention and interest of economists. The developments in the external environment are influencing the business activities of large corporations. The State-owned enterprises (SOEs) established under the traditional planned economy are currently undergoing a corporatization process in order to establish a modern enterprise system. With the growth of domestic capital market, SOEs have made progress in corporatization, establishing a joint-stock structure and being listed on the stock exchange. Generally speaking, SOEs lag far behind large international companies in terms of scale, profitability and technology, as well as management. The government and business circles began to pay attention to the development and reform of large Chinese enterprises. Reforms at the micro level require corresponding reforms at the macro level. The chapter also presents an overview of the key concepts discussed in this book.
