Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：4  发布时间：2026-03-18

It is precisely due to the rampant practice of overthrowing men and the widespread use of the law that various national distribution materials flow into the market in various forms and through various channels, and the national directive plans have completely lost their seriousness. In the years when the "dual track pricing system" was implemented, the contract for supplying goods to the state was never completed, and state-owned enterprises that followed the rules and regulations and complied with the national control plan became the biggest victims. In this sense, the aristocratic class benefiting from this distorted pricing system is the last straw that crushes the planned economy.

It is estimated that the direct losses caused by the dual track system to the Chinese economy are at least 1.1 trillion yuan per year, accounting for 9% of GDP, which is basically on par with the growth rate of many young Chinese economies. According to a research report by scholar Hu Heli, in 1988 alone, the total price difference of controlled goods in China exceeded 150 billion yuan. Combined with the interest rate difference of bank loans and the exchange rate difference of imported foreign exchange, the total price difference of the three items reached over 350 billion yuan, accounting for about 30% of the national income that year, of which about 70% flowed into private pockets.

Despite enjoying the protection of the "dual track pricing system", state-owned enterprises are still struggling within the system, which is truly a process of suffering from both business activities and mentality.