Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：36  发布时间：2025-05-14

Led by eight pilot enterprises including Shougang, the reform of state-owned enterprises with the theme of "decentralization" officially kicked off in 1979. ①

By the end of 1979, there were 4200 pilot enterprises nationwide. We are about to see how China's massive state-owned enterprise groups will be loosened, broken up, supported, favored, and dismembered in the next 30 years. They will have different fates due to their scale, industry, and experiences. Throughout this process, the owners of these assets - the central and various levels of government - will do their utmost to preserve and strengthen them. From the first day of the reform, the game of interests began. First, there was the game between state-owned enterprises that had been delegated power and the government that had controlled them for many years. Then, these enterprises relied on government policy support to compete with the "unexpected" rise of private companies. Later, multinational corporations also came in to "stir up trouble" and "grab food". As a result, the pattern of interests became increasingly complex. The 30-year corporate transformation in China appears to be complex and disorganized, with national policies seemingly fluctuating and inefficient. However, strictly speaking, the interests and strategic goals of the reform are very clear and have not wavered since the first day.