The Unfinished Business of State-Owned Enterprise Reform in the People's Republic of China

52 Pages Posted: 25 Jun 2019 Last revised: 23 Jul 2019

See all articles by Carsten A. Holz

Carsten A. Holz

Hong Kong University of Science & Technology (HKUST) - Division of Social Science

Date Written: 2019

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, longterm 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.

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: P000, P310, L200, P260, D220, L320, O250, O530

Suggested Citation

Holz, Carsten A., The Unfinished Business of State-Owned Enterprise Reform in the People's Republic of China (2019). CESifo Working Paper No. 7688, Available at SSRN: https://ssrn.com/abstract=3409134

Carsten A. Holz (Contact Author)

Hong Kong University of Science & Technology (HKUST) - Division of Social Science ( email )

Division of Social Science
Clear Water Bay
Clear Water Bay, Kowloon
Hong Kong

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