Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：3  发布时间：2026-03-22

Another unclear concept is that in a state-owned enterprise, it is the factory director or the party secretary who has the the final say or the the final say. Before the reform, this was not a problem at all, and the secretary was the undisputed leader of the factory. But in the new governance structure, the factory director becomes the first person responsible for the operation of the enterprise. Should he continue to accept the leadership of the secretary? This issue involves political sensitivity, and the related debates have been shrouded in secrecy for over a decade, from the "factory director responsibility system under the leadership of the Party committee" to the "dual core system of the secretary and factory director", and then to the comprehensive responsibility system of the factory director. It was dragging on and tangled up until around 1998, with the introduction of the Company Law and the widespread acceptance of modern enterprise systems, that this issue was finally resolved. ①

On August 3rd, three state-owned enterprises in Shenyang received the "Bankruptcy Alert Notice", which was the first case since the founding of the People's Republic of China. The Shenyang Municipal Government turned it into a grand press conference, and Shenyang Third Agricultural Machinery Factory, Hardware Casting Factory, and Explosion proof Equipment Factory were selected as pilot plants. The municipal government specially made three "Bankruptcy Warning Notices" with yellow covers - yellow card warnings for football matches - and handed them over to three trembling factory managers. On the same day one year later, the explosion-proof equipment factory became the first victim and was declared bankrupt and bankrupt from that day on.