Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：32  发布时间：2025-11-10

These changes that occurred in the field of circulation were few and far between on the land of China at that time. Although they were extremely active, they did not yet demonstrate their revolutionary impact on the planned system. The shortage characteristics of commodity supply still lead decision-makers to believe that the main problem of state-owned enterprises lies in rigid and inefficient internal management. So, all attention and policy-making are focused on these aspects.

At that time, state-owned enterprises gathered almost all of China's assets and elite talents. They were the protagonists of China's gradual reform, and in a sense, their growth form and reform path determined the nature and destiny of China's reform. At that time, all socialist countries faced the challenge of reforming state-owned enterprises on a global scale. Hungarian economist Janos K ö lny published "Shortage Economics" two years ago, in which he theoretically dissected the operating mode and characteristics of state-owned enterprises. In response to the widespread low efficiency of enterprises and commodity shortages in socialist countries, K ö lny pointed out that the root cause was not "policy errors", but rather the social and economic relations and institutional conditions that softened budget constraints for enterprises. This is a very fatal judgment, which implies that the existing social system conditions must be changed in order to revitalize state-owned enterprises, rather than just relying on central policy adjustments or internal management changes.