Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：15  发布时间：2025-05-09

At the Third Plenum of the Eleventh Central Committee of the Communist Party of China last year, the central government believed that "a serious drawback of China's economic management system is the excessive concentration of power, and it should be boldly delegated with leadership to give local governments and industrial and agricultural enterprises more autonomy in operation and management under the guidance of the national unified plan." Based on this consensus, expanding enterprise autonomy has become the starting point of state-owned enterprise reform, and in the next nearly 20 years, it has been the main line of reform for state-owned enterprises to strive for vitality.

In May 1979, the State Council announced that eight large state-owned enterprises, including Capital Iron and Steel Corporation, Tianjin Bicycle Factory, and Shanghai Diesel Engine Factory, were the first to expand their autonomy in experiments. In July, five documents were released, including expanding the autonomy of state-owned industrial enterprises in operation and management, implementing profit retention, levying fixed asset tax, increasing depreciation rates and improving the use of depreciation fees, and implementing full credit for working capital. The reform measures of enterprises such as Shougang have become a focus of national attention. History made Zhou Guanwu, at the age of nearly 60
Suddenly standing under the spotlight of the times.