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State-owned enterprises of China

January 01, 1970

A state-owned enterprise of China (Chinese: 国有企业) is a legal entity that undertakes commercial activities on behalf of an owner government.

As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies.[1][page needed] As of the end of 2019, China's SOEs represented 4.5% of the global economy[2] and the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08 trillion.[3]

State-owned enterprises accounted for over 60% of China's market capitalization in 2019[4] and estimates suggest that they generated about 23-28% of China's GDP in 2017 and employ between 5% and 16% of the workforce.[5] Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies.[6]

The role of the Chinese Communist Party (CCP) in SOEs has varied at different periods but has increased during the Xi Jinping administration, with the CCP formally taking a commanding role in all SOEs as of 2020.[7][8] For example, Lai Xiaomin, the former president of state-owned China Huarong Asset Management announced in 2015 that during the operation of China Huarong Asset Management, the embedded CCP committee will play a central role, and party members will play an exemplary role.[9] As Jin et al. wrote in 2022,[10]

The overarching principle of SOE reform is to firmly implement the Party’s leadership and the modern enterprise system. This principle creates a political governance system in China’s SOEs—a Party-dominated governance system characterized by Party leadership, state ownership, Party cadre management, Party participation in corporate decision-making, and intra-Party supervision.

CCP branches within China's SOEs are the governing bodies which make important decisions and inculcate its ideology.[11]

Role edit

When China's SOEs were first created, they served as instruments for carrying out national goals and providing social stability via the iron rice bowl.[12] Financial performance of SOEs was not a major concern until China's reform era.[13] With the exception of a small number of national monopolies, SOEs compete in the market as privately enterprises do.[14]

SOEs have a primary role in China's energy sector.[15] Its five large state-owned power generation companies are: Datang, Guodian, Huadian, Huaneng, and China Power Investment Corporation.[16] Its state-owned grid companies are State Grid Corporation of China (SGCC) and China Southern Power Grid Corporation.[17]

Most Chinese universities are SOEs.[18]

China's SOEs are at the forefront of global seaport construction, and most new ports built by them are part of the Belt and Road Initiative.[19] State-owned banks are important sources of funding for port construction.[20]

SOEs that compete in the market are largely owned by provincial or sub-provincial governments.[21] A significant cluster of these SOEs are joint ventures with foreign companies in the automotive industry.[21]

In addition to their own operations, SOEs invest in private enterprises.[22] From the perspective of these private enterprises, this form of partial state ownership is helpful in obtaining financing from banks, particularly as prompts banks to require less collateral.[23] Sometimes in investing in private enterprises, SOEs acquire enough shares to nationalize them.[24] Over the period 2018–2020, 109 publicly traded enterprises with more than $100 billion in collective total assets were nationalized in this way.[24]

SOEs help stabilize public finance, including through allowing the government to use assets as collateral to issue debt or to sell shares to balance budgets.[25] According to academic Wendy Leutert, China's SOEs, "...contribute to central and local governments revenues through dividends and taxes, support urban employment, keep key input prices low, channel capital towards targeted industries and technologies, support sub-national redistribution to poorer interior and western provinces, and aid the state's response to natural disasters, financial crises and social instability."[26]

History of SOEs edit

Following the CCP victory in the Chinese Civil War, one of the party's early steps was to nationalize enterprises that the defeated Nationalists had controlled.[27]

During the Third Front campaign to develop heavy industry in China's interior regions, almost 400 state-owned enterprises were re-located from coastal cities to secret sites in the Chinese interior where they would be more protected in event of foreign invasion.[28]

In 1984, the State Council issued a directive to expand the autonomy of SOEs.[29] SOEs were also allowed to sell surplus goods on the market once they had met their quotas.[29]

With the goal of boosting innovation and efficiency, more than half of China's largest SOEs had established technical development centers by 1993.[15] The same year, the CCP issued its "Decision on Issues Related to the Establishment of a Socialist Market Economy System."[30] In the wave of reform thereafter, one goal was to separate SOE management from government and to empower a select group of SOEs with special property rights and autonomy.[30]

Consistent with President Jiang Zemin and Premier Zhu Rongji's strategy of grasping the large, letting go of the small, major SOE reform occurred in 1997,[30] which represented a change from the previously incremental reform efforts.[31] The state was encouraged to preserve large SOEs and to allow weaker ones to be "let go" through closing or consolidating.[32] Other major policies that were part of the 1997 reforms included management and employee buyouts and the inclusion of foreign strategic partners.[31]

The general trend since 2000 has been for SOEs to increase in importance consistent with a broader resurgence of state activity in the market.[33] SOE mergers have been routine since 2000.[34] Beginning in 2003 with Hu Jintao's administration, the Chinese government increasingly funded SOE consolidation, supplying massive subsidies and favoring SOEs from a regulatory standpoint.[35] These efforts helped SOEs to crowd out foreign and domestic private sector competitors.[35]

As part of China's Great Western Development program, China's five large state-owned hydropower companies planned, underwrote, and built the majority of dams on the river and its tributaries.[36]

SOEs were major beneficiaries of China's stimulus program following the 2008 global financial crisis, which began a period where the private sector withdrew and the state-owned sector expanded.[37]

Under Xi Jinping edit

The pace of SOE mergers has increased under Xi.[34] The goals of China's current SOE mergers include an effort to create larger and more competitive national champions with a bigger global market share by reducing price competition among SOEs abroad and increasing vertical integration.[34]

Overall, China's focus on SOEs during the Xi era have demonstrated a commitment to using SOEs to serve non-market objectives and increasing CCP control of SOEs[38] while taking some limited steps towards market liberalization, such as increasing mixed (state and private) ownership of SOEs.[39] Along with increased mergers, promotion of mixed ownership, and management of state capital have continued; results have been mixed.[39] Transitioning solely state-owned enterprises to a mixed ownership was announced in 2013 at the 18th Central Committee of the Chinese Communist Party and re-affirmed by the 19th Party Congress.[40]

Following an August 2015 directive, SOEs' articles of association are required to specify the leading role of party organizations in their firms.[41]: 80  The 2015 directive also increases the importance of party organizations within SOEs by requiring that the party secretary and the chair of the board must be the same person.[41]: 80 

According to Xi, "[T]he dominant role of state ownership cannot be changed, and the leading role of the state-economy cannot be changed."[35] In Xi Jinping Thought, the historical importance of state-owned enterprises is highlighted:[35]

[W]ithout the important material foundation that state-owned enterprises have laid for China's development over a long period of time, without the major innovations and key core technologies achieved by state-owned enterprises, and without state-owned enterprises' long-term commitment to a large number of social responsibilities, there would be no economic independence and national security for China, no continuous improvement in people's lives, and no socialist China standing tall in the East of the world.

Xi Jinping Thought also emphasizes the role of SOEs as part of the dominant position of state ownership necessary for common prosperity.[42]

In 2019, a new party rule required SOE articles of association to require that major decisions must be discussed by the SOE's party committee before they are considered by management or by the board of directors.[41]: 80 

In 2023, multiple state-owned enterprises, including Shanghai Municipal Investment Group, established internal People's Armed Forces Departments run by the People's Liberation Army.[43][44][45] They are expected "to work together with grassroots organizations to collect intelligence and information, dissolve and/or eliminate security concerns at the budding stage," according to the People's Liberation Army Daily.[44]

In 2024, the Chinese government announced SOE management would be assessed based on stock market performance.[46]

State Council (Central Government) edit

China Investment Corporation edit

SASAC of the State Council edit

For a more comprehensive list, see State-owned Assets Supervision and Administration Commission § Central SOEs.

As of 2022, SASAC oversees 97 centrally owned companies.[47] Companies directly supervised by SASAC have been reduced and consolidated through mergers according to the state-owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008.[48]

Ministry of Finance edit

Main article: Ministry of Finance of the People's Republic of China § As shareholder

Ministry of Education edit

Regional Governments edit

Governments below the national level operate portfolios of SOEs which operate both domestically and abroad.[47]

Anhui Province edit

Beijing Municipality edit

Chongqing Municipality edit

Gansu Province edit

Guangdong Province edit

Shenzhen City edit

Zhuhai City edit

Guangxi Zhuang Autonomous Region edit

Guizhou Province edit

Hebei Province edit

Heilongjiang Province edit

Hubei Province edit

Wuhan City edit

Liaoning Province edit

Shanghai Municipality edit

Shandong Province edit

Linfen City edit

Yantai City edit

As of 2019

Shanxi Province edit

Tianjin Municipality edit

Xinjiang Uyghur Autonomous Region edit

Zhejiang Province edit

Ningbo City edit

Hong Kong S.A.R. edit

See also edit

References edit

  1. ^ Pieke & Hofman 2022.
  2. ^ Wei, Lingling (2020-12-10). "China's Xi Ramps Up Control of Private Sector. 'We Have No Choice but to Follow the Party.'". The Wall Street Journal. ISSN 0099-9660. from the original on 2022-08-21. Retrieved 2022-08-22.
  3. ^ Tjan, Sie Tek (17 October 2020). "China State Firms' Assets grow even as the Government presses for lighter debt". Caixin. from the original on 7 January 2022. Retrieved 19 October 2020.
  4. ^ Hissey, Ian (17 December 2019). "Investing in Chinese State-Owned Enterprises". insight.factset.com. from the original on 18 April 2021. Retrieved 15 March 2021.
  5. ^ Zhang, Chunlin (15 July 2019). "How Much Do State-Owned Enterprises Contribute to China's GDP and Employment?" (PDF). World Bank. (PDF) from the original on 13 August 2023. Retrieved 22 April 2024.
  6. ^ Tjan, Sie tek (18 August 2020). "The Biggest but not the Strongest: China's place in the Fortune Global 500". Center for Strategic and International Studies. from the original on 7 October 2020. Retrieved 19 October 2020.
  7. ^ Drinhausen, Katja; Legarda, Helena (15 September 2022). ""Comprehensive National Security" unleashed: How Xi's approach shapes China's policies at home and abroad". Mercator Institute for China Studies. from the original on 8 February 2023. Retrieved 15 February 2023.
  8. ^ Wang, Orange; Xin, Zhou (January 8, 2020). "China cements Communist Party's role at top of its SOEs, should 'execute the will of the party'". South China Morning Post. from the original on January 8, 2020. Retrieved January 8, 2020.
  9. ^ . Archived from the original on 2020-08-27. Retrieved 2020-08-26.
  10. ^ Jin, Xiankun; Xu, Liping; Xin, Yu; Adhikari, Ajay (2022). "Political governance in China's state-owned enterprises". China Journal of Accounting Research. 15 (2): 100236. doi:10.1016/j.cjar.2022.100236. S2CID 248617625.
  11. ^ Marquis & Qiao 2022, p. 14.
  12. ^ Jin 2023, p. 84.
  13. ^ Jin 2023, p. 84-85.
  14. ^ Li 2024, p. 117-118.
  15. ^ a b Lewis 2023, p. 24.
  16. ^ Lewis 2023, p. 40.
  17. ^ Lewis 2023, p. 41.
  18. ^ Lewis 2023, p. 217.
  19. ^ Shahab Uddin, Shanjida (2023). "Bangladesh and Belt and Road Initiative: Strategic Rationale". China and Eurasian Powers in a Multipolar World Order 2.0: Security, Diplomacy, Economy and Cyberspace. Mher Sahakyan. New York: Routledge. p. 132. ISBN 978-1-003-35258-7. OCLC 1353290533.
  20. ^ Shinn & Eisenman 2023, p. 272.
  21. ^ a b Li 2024, p. 113.
  22. ^ Marquis & Qiao 2022, p. 217-218.
  23. ^ Marquis & Qiao 2022, p. 21.
  24. ^ a b Marquis & Qiao 2022, p. 218.
  25. ^ Li 2024, p. 116.
  26. ^ Pieke & Hofman 2022, p. 146.
  27. ^ Liu 2023a, p. 36.
  28. ^ Meyskens 2020, p. 3.
  29. ^ a b Ang 2016, p. 81.
  30. ^ a b c Roach 2022, p. 215.
  31. ^ a b Heilmann 2018, p. 96.
  32. ^ Roach 2022, p. 215-216.
  33. ^ Hu 2023, p. 129.
  34. ^ a b c Pieke & Hofman 2022, p. 140.
  35. ^ a b c d Marquis & Qiao 2022, p. 217.
  36. ^ Harrell 2023, p. 220.
  37. ^ Marquis & Qiao 2022, p. 216.
  38. ^ Pieke & Hofman 2022, p. 138.
  39. ^ a b Pieke & Hofman 2022, p. 141.
  40. ^ Li 2024, p. 120.
  41. ^ a b c Tsang, Steve; Cheung, Olivia (2024). The Political Thought of Xi Jinping. Oxford University Press. ISBN 9780197689363.
  42. ^ Marquis & Qiao 2022, p. 223.
  43. ^ "Big Chinese state-owned enterprises setting up army-linked militias". Radio Free Asia. October 3, 2023. from the original on 2023-10-06. Retrieved 2023-10-07.
  44. ^ a b Liu, Natalie (2023-11-07). "Why is China Highlighting Militias in State Owned Enterprises?". Voice of America. from the original on 2023-11-09. Retrieved 2023-11-09. According to Chinese media, units have been established this year in at least 23 SOEs nationwide, nine of them in Wuhan.
  45. ^ He, Laura (2024-02-21). "Major companies in China are setting up their own volunteer armies". CNN. from the original on 2024-02-22. Retrieved 2024-02-22.
  46. ^ Harding, Robin; Sandlund, William (2024-04-17). "China reforms its unloved state-owned enterprises to win back investors". Financial Times. from the original on 2024-04-17. Retrieved 2024-04-17.
  47. ^ a b Pieke & Hofman 2022, p. 137.
  48. ^ "China gives state firms $8 bln to combat slowdown". Reuters. November 28, 2008. from the original on October 15, 2020. Retrieved July 1, 2017.
  49. ^ "Zhōngguó bǎowǔ "wúcháng" shōugòu mǎgāng gāngtiěyè jiānbìng chóngzǔ tísù" 中国宝武“无偿”收购马钢 钢铁业兼并重组提速. 第一财经 (Yicai) (in Chinese (China)). Shanghai. 3 June 2019. from the original on 18 June 2019. Retrieved 18 June 2019.
  50. ^ "关于方正东亚信托有限责任公司调整股权结构的批复" (in Chinese). CBRC. 4 November 2016. from the original on 9 January 2017. Retrieved 9 January 2017.

Bibliography edit

Library resources about
State-owned enterprises of China

January 01, 1970
state, owned, enterprises, china, state, owned, enterprise, china, chinese, 国有企业, legal, entity, that, undertakes, commercial, activities, behalf, owner, government, 2017, update, china, more, soes, than, other, country, most, soes, among, large, national, com. A state owned enterprise of China Chinese 国有企业 is a legal entity that undertakes commercial activities on behalf of an owner government As of 2017 update China has more SOEs than any other country and the most SOEs among large national companies 1 page needed As of the end of 2019 China s SOEs represented 4 5 of the global economy 2 and the total assets of all China s SOEs including those operating in the financial sector reached US 78 08 trillion 3 State owned enterprises accounted for over 60 of China s market capitalization in 2019 4 and estimates suggest that they generated about 23 28 of China s GDP in 2017 and employ between 5 and 16 of the workforce 5 Ninety one 91 of these SOEs belong to the 2020 Fortune Global 500 companies 6 The role of the Chinese Communist Party CCP in SOEs has varied at different periods but has increased during the Xi Jinping administration with the CCP formally taking a commanding role in all SOEs as of 2020 7 8 For example Lai Xiaomin the former president of state owned China Huarong Asset Management announced in 2015 that during the operation of China Huarong Asset Management the embedded CCP committee will play a central role and party members will play an exemplary role 9 As Jin et al wrote in 2022 10 The overarching principle of SOE reform is to firmly implement the Party s leadership and the modern enterprise system This principle creates a political governance system in China s SOEs a Party dominated governance system characterized by Party leadership state ownership Party cadre management Party participation in corporate decision making and intra Party supervision CCP branches within China s SOEs are the governing bodies which make important decisions and inculcate its ideology 11 Contents 1 Role 2 History of SOEs 2 1 Under Xi Jinping 3 State Council Central Government 3 1 China Investment Corporation 3 2 SASAC of the State Council 3 3 Ministry of Finance 3 4 Ministry of Education 4 Regional Governments 4 1 Anhui Province 4 2 Beijing Municipality 4 3 Chongqing Municipality 4 4 Gansu Province 4 5 Guangdong Province 4 5 1 Shenzhen City 4 5 2 Zhuhai City 4 6 Guangxi Zhuang Autonomous Region 4 7 Guizhou Province 4 8 Hebei Province 4 9 Heilongjiang Province 4 10 Hubei Province 4 10 1 Wuhan City 4 11 Liaoning Province 4 12 Shanghai Municipality 4 13 Shandong Province 4 13 1 Linfen City 4 13 2 Yantai City 4 14 Shanxi Province 4 15 Tianjin Municipality 4 16 Xinjiang Uyghur Autonomous Region 4 17 Zhejiang Province 4 17 1 Ningbo City 4 18 Hong Kong S A R 5 See also 6 References 6 1 BibliographyRole editWhen China s SOEs were first created they served as instruments for carrying out national goals and providing social stability via the iron rice bowl 12 Financial performance of SOEs was not a major concern until China s reform era 13 With the exception of a small number of national monopolies SOEs compete in the market as privately enterprises do 14 SOEs have a primary role in China s energy sector 15 Its five large state owned power generation companies are Datang Guodian Huadian Huaneng and China Power Investment Corporation 16 Its state owned grid companies are State Grid Corporation of China SGCC and China Southern Power Grid Corporation 17 Most Chinese universities are SOEs 18 China s SOEs are at the forefront of global seaport construction and most new ports built by them are part of the Belt and Road Initiative 19 State owned banks are important sources of funding for port construction 20 SOEs that compete in the market are largely owned by provincial or sub provincial governments 21 A significant cluster of these SOEs are joint ventures with foreign companies in the automotive industry 21 In addition to their own operations SOEs invest in private enterprises 22 From the perspective of these private enterprises this form of partial state ownership is helpful in obtaining financing from banks particularly as prompts banks to require less collateral 23 Sometimes in investing in private enterprises SOEs acquire enough shares to nationalize them 24 Over the period 2018 2020 109 publicly traded enterprises with more than 100 billion in collective total assets were nationalized in this way 24 SOEs help stabilize public finance including through allowing the government to use assets as collateral to issue debt or to sell shares to balance budgets 25 According to academic Wendy Leutert China s SOEs contribute to central and local governments revenues through dividends and taxes support urban employment keep key input prices low channel capital towards targeted industries and technologies support sub national redistribution to poorer interior and western provinces and aid the state s response to natural disasters financial crises and social instability 26 History of SOEs editFollowing the CCP victory in the Chinese Civil War one of the party s early steps was to nationalize enterprises that the defeated Nationalists had controlled 27 During the Third Front campaign to develop heavy industry in China s interior regions almost 400 state owned enterprises were re located from coastal cities to secret sites in the Chinese interior where they would be more protected in event of foreign invasion 28 In 1984 the State Council issued a directive to expand the autonomy of SOEs 29 SOEs were also allowed to sell surplus goods on the market once they had met their quotas 29 With the goal of boosting innovation and efficiency more than half of China s largest SOEs had established technical development centers by 1993 15 The same year the CCP issued its Decision on Issues Related to the Establishment of a Socialist Market Economy System 30 In the wave of reform thereafter one goal was to separate SOE management from government and to empower a select group of SOEs with special property rights and autonomy 30 Consistent with President Jiang Zemin and Premier Zhu Rongji s strategy of grasping the large letting go of the small major SOE reform occurred in 1997 30 which represented a change from the previously incremental reform efforts 31 The state was encouraged to preserve large SOEs and to allow weaker ones to be let go through closing or consolidating 32 Other major policies that were part of the 1997 reforms included management and employee buyouts and the inclusion of foreign strategic partners 31 The general trend since 2000 has been for SOEs to increase in importance consistent with a broader resurgence of state activity in the market 33 SOE mergers have been routine since 2000 34 Beginning in 2003 with Hu Jintao s administration the Chinese government increasingly funded SOE consolidation supplying massive subsidies and favoring SOEs from a regulatory standpoint 35 These efforts helped SOEs to crowd out foreign and domestic private sector competitors 35 As part of China s Great Western Development program China s five large state owned hydropower companies planned underwrote and built the majority of dams on the river and its tributaries 36 SOEs were major beneficiaries of China s stimulus program following the 2008 global financial crisis which began a period where the private sector withdrew and the state owned sector expanded 37 Under Xi Jinping edit The pace of SOE mergers has increased under Xi 34 The goals of China s current SOE mergers include an effort to create larger and more competitive national champions with a bigger global market share by reducing price competition among SOEs abroad and increasing vertical integration 34 Overall China s focus on SOEs during the Xi era have demonstrated a commitment to using SOEs to serve non market objectives and increasing CCP control of SOEs 38 while taking some limited steps towards market liberalization such as increasing mixed state and private ownership of SOEs 39 Along with increased mergers promotion of mixed ownership and management of state capital have continued results have been mixed 39 Transitioning solely state owned enterprises to a mixed ownership was announced in 2013 at the 18th Central Committee of the Chinese Communist Party and re affirmed by the 19th Party Congress 40 Following an August 2015 directive SOEs articles of association are required to specify the leading role of party organizations in their firms 41 80 The 2015 directive also increases the importance of party organizations within SOEs by requiring that the party secretary and the chair of the board must be the same person 41 80 According to Xi T he dominant role of state ownership cannot be changed and the leading role of the state economy cannot be changed 35 In Xi Jinping Thought the historical importance of state owned enterprises is highlighted 35 W ithout the important material foundation that state owned enterprises have laid for China s development over a long period of time without the major innovations and key core technologies achieved by state owned enterprises and without state owned enterprises long term commitment to a large number of social responsibilities there would be no economic independence and national security for China no continuous improvement in people s lives and no socialist China standing tall in the East of the world Xi Jinping Thought also emphasizes the role of SOEs as part of the dominant position of state ownership necessary for common prosperity 42 In 2019 a new party rule required SOE articles of association to require that major decisions must be discussed by the SOE s party committee before they are considered by management or by the board of directors 41 80 In 2023 multiple state owned enterprises including Shanghai Municipal Investment Group established internal People s Armed Forces Departments run by the People s Liberation Army 43 44 45 They are expected to work together with grassroots organizations to collect intelligence and information dissolve and or eliminate security concerns at the budding stage according to the People s Liberation Army Daily 44 In 2024 the Chinese government announced SOE management would be assessed based on stock market performance 46 State Council Central Government editChina Investment Corporation edit Central Huijin Investment China Jianyin Investment China Everbright Group SASAC of the State Council edit For a more comprehensive list see State owned Assets Supervision and Administration Commission Central SOEs As of 2022 update SASAC oversees 97 centrally owned companies 47 Companies directly supervised by SASAC have been reduced and consolidated through mergers according to the state owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008 48 Ministry of Finance edit Main article Ministry of Finance of the People s Republic of China As shareholder Ministry of Education edit Peking University Founder Group 70 Peking University Resources Group 30 by Founder Group 40 by Peking University directly Peking University Resources Holdings 65 96 collectively by Founder Group and PKU Resources Group Founder Technology Founder Holdings Jade Bird Software 48 Beida Jade Bird Universal Sci Tech 24 05 collectively Sinobioway Group 40 as minority shareholder Regional Governments editGovernments below the national level operate portfolios of SOEs which operate both domestically and abroad 47 Anhui Province edit Anhui Conch Cement Masteel Group 49 49 Beijing Municipality edit Beijing Guoxiang Asset Management UBS Securities 33 Beijing State owned Capital Operation and Management Center Shougang Shougang Company Shougang Concord International CSC Financial 37 46 Chongqing Municipality edit Chongqing Iron and Steel Company Gansu Province edit Gansu SASAC Baiyin Nonferrous 36 16 Guangdong Province edit Guangdong Rising Asset Management Zhongjin Lingnan 36 04 Rising Nonferrous Metals Share Guangdong Hengjian Investment Holding 100 Shaoguan Iron and Steel Group 49 Guangdong Provincial Communication Group Guangdong Provincial Railway Construction Investment Group Guangdong Holdings Guangdong Investment 54 68 TCL Corporation 36 Tonly Electronics Holdings Limited 48 70 Shenzhen City edit Shenzhen Capital Group Shenzhen HTI Group Zhuhai City edit Gree Group 100 Gree Electric sold in 2019 Gree Real Estate Guangxi Zhuang Autonomous Region edit Guangxi Non ferrous Metals Guizhou Province edit Kweichow Moutai Group Kweichow Moutai Hebei Province edit Hesteel Group Hesteel Company Hansteel Tangsteel Heilongjiang Province edit Beiman Special Steel 41 37 Hubei Province edit Wuhan City edit Wuhan Financial Holdings Group 100 Founder BEA Trust 67 51 50 Liaoning Province edit Dongbei Special Steel Beiman Special Steel Shanghai Municipality edit Shanghai Data Exchange Shanghai Jiushi Group Shanghai Municipal Investment Group Shanghai International Port Group Shandong Province edit Shandong Gaosu Group Shandong Energy Group Linfen City edit Linfen Investment Group 100 Yantai City edit As of 2019 update Yantai Guofeng 100 Wanhua Industrial Group 39 497 Wanhua Chemical Group 21 56 Shanxi Province edit Datong Coal Mining Group Datong Coal Industry Jincheng Anthracite Mining Group Shanxi Coking Coal Group Shanxi Coking Company Xishan Coal Electricity Group Xishan Coal and Electricity Power Taiyuan Coal Gasification Group 51 Tianjin Municipality edit TEDA Holding Tianjin Pipe Tianjin TEDA F C Tianjin TEDA Co Xinjiang Uyghur Autonomous Region edit Xinjiang Investment Development Group 100 Xinjiang Ba Yi Iron and Steel Group 15 Zhejiang Province edit Ningbo City edit Bank of Ningbo 21 38 Hong Kong S A R edit Hong Kong Link 100 MTR Corporation around 75 shares Kowloon Canton Railway Corporation 100 See also edit nbsp China portal nbsp Companies portal List of government owned companies State ownershipReferences edit Pieke amp Hofman 2022 Wei Lingling 2020 12 10 China s Xi Ramps Up Control of Private Sector We Have No Choice but to Follow the Party The Wall Street Journal ISSN 0099 9660 Archived from the original on 2022 08 21 Retrieved 2022 08 22 Tjan Sie Tek 17 October 2020 China State Firms Assets grow even as the Government presses for lighter debt Caixin Archived from the original on 7 January 2022 Retrieved 19 October 2020 Hissey Ian 17 December 2019 Investing in Chinese State Owned Enterprises insight factset com Archived from the original on 18 April 2021 Retrieved 15 March 2021 Zhang Chunlin 15 July 2019 How Much Do State Owned Enterprises Contribute to China s GDP and Employment PDF World Bank Archived PDF from the original on 13 August 2023 Retrieved 22 April 2024 Tjan Sie tek 18 August 2020 The Biggest but not the Strongest China s place in the Fortune Global 500 Center for Strategic and International Studies Archived from the original on 7 October 2020 Retrieved 19 October 2020 Drinhausen Katja Legarda Helena 15 September 2022 Comprehensive National Security unleashed How Xi s approach shapes China s policies at home and abroad Mercator Institute for China Studies Archived from the original on 8 February 2023 Retrieved 15 February 2023 Wang Orange Xin Zhou January 8 2020 China cements Communist Party s role at top of its SOEs should execute the will of the party South China Morning Post Archived from the original on January 8 2020 Retrieved January 8 2020 中国华融党委书记 董事长赖小民赴广东分公司调研 强调全系统要总结 学习 推广 广东经验 助推中国华融转型发展 Archived from the original on 2020 08 27 Retrieved 2020 08 26 Jin Xiankun Xu Liping Xin Yu Adhikari Ajay 2022 Political governance in China s state owned enterprises China Journal of Accounting Research 15 2 100236 doi 10 1016 j cjar 2022 100236 S2CID 248617625 Marquis amp Qiao 2022 p 14 Jin 2023 p 84 Jin 2023 p 84 85 Li 2024 p 117 118 a b Lewis 2023 p 24 Lewis 2023 p 40 Lewis 2023 p 41 Lewis 2023 p 217 Shahab Uddin Shanjida 2023 Bangladesh and Belt and Road Initiative Strategic Rationale China and Eurasian Powers in a Multipolar World Order 2 0 Security Diplomacy Economy and Cyberspace Mher Sahakyan New York Routledge p 132 ISBN 978 1 003 35258 7 OCLC 1353290533 Shinn amp Eisenman 2023 p 272 a b Li 2024 p 113 Marquis amp Qiao 2022 p 217 218 Marquis amp Qiao 2022 p 21 a b Marquis amp Qiao 2022 p 218 Li 2024 p 116 Pieke amp Hofman 2022 p 146 Liu 2023a p 36 Meyskens 2020 p 3 a b Ang 2016 p 81 a b c Roach 2022 p 215 a b Heilmann 2018 p 96 Roach 2022 p 215 216 Hu 2023 p 129 a b c Pieke amp Hofman 2022 p 140 a b c d Marquis amp Qiao 2022 p 217 Harrell 2023 p 220 Marquis amp Qiao 2022 p 216 Pieke amp Hofman 2022 p 138 a b Pieke amp Hofman 2022 p 141 Li 2024 p 120 a b c Tsang Steve Cheung Olivia 2024 The Political Thought of Xi Jinping Oxford University Press ISBN 9780197689363 Marquis amp Qiao 2022 p 223 Big Chinese state owned enterprises setting up army linked militias Radio Free Asia October 3 2023 Archived from the original on 2023 10 06 Retrieved 2023 10 07 a b Liu Natalie 2023 11 07 Why is China Highlighting Militias in State Owned Enterprises Voice of America Archived from the original on 2023 11 09 Retrieved 2023 11 09 According to Chinese media units have been established this year in at least 23 SOEs nationwide nine of them in Wuhan He Laura 2024 02 21 Major companies in China are setting up their own volunteer armies CNN Archived from the original on 2024 02 22 Retrieved 2024 02 22 Harding Robin Sandlund William 2024 04 17 China reforms its unloved state owned enterprises to win back investors Financial Times Archived from the original on 2024 04 17 Retrieved 2024 04 17 a b Pieke amp Hofman 2022 p 137 China gives state firms 8 bln to combat slowdown Reuters November 28 2008 Archived from the original on October 15 2020 Retrieved July 1 2017 Zhōngguo bǎowǔ wuchang shōugou mǎgang gangtieye jianbing chongzǔ tisu 中国宝武 无偿 收购马钢 钢铁业兼并重组提速 第一财经 Yicai in Chinese China Shanghai 3 June 2019 Archived from the original on 18 June 2019 Retrieved 18 June 2019 关于方正东亚信托有限责任公司调整股权结构的批复 in Chinese CBRC 4 November 2016 Archived from the original on 9 January 2017 Retrieved 9 January 2017 Bibliography edit Ang Yuen Yuen 2016 How China Escaped the Poverty Trap Cornell University Press ISBN 978 1 5017 0020 0 JSTOR 10 7591 j ctt1zgwm1j Jin Keyu 2023 The New China Playbook Beyond Socialism and Capitalism New York Viking ISBN 978 1 9848 7828 1 Lewis Joanna I 2023 Cooperating for the Climate Learning from International Partnerships in China s Clean Energy Sector Cambridge Massachusetts The MIT Press ISBN 978 0 262 54482 5 Li David Daokui 2024 China s World View Demystifying China to Prevent Global Conflict New York NY W W Norton amp Company ISBN 978 0393292398 Liu Zongyuan Zoe 2023a Sovereign Funds How the Communist Party of China Finances its Global Ambitions The Belknap Press of Harvard University Press doi 10 2307 jj 2915805 ISBN 9780674271913 JSTOR jj 2915805 S2CID 259402050 Marquis Christopher Qiao Kunyuan 2022 Mao and Markets The Communist Roots of Chinese Enterprise New Haven Yale University Press doi 10 2307 j ctv3006z6k ISBN 978 0 300 26883 6 JSTOR j ctv3006z6k OCLC 1348572572 S2CID 253067190 Meyskens Covell F 2020 Mao s Third Front The Militarization of Cold War China Cambridge United Kingdom Cambridge University Press ISBN 978 1 108 78478 8 OCLC 1145096137 Pieke Frank N Hofman Bert eds 2022 CPC Futures The New Era of Socialism with Chinese Characteristics Singapore National University of Singapore Press doi 10 56159 eai 52060 ISBN 978 981 18 5206 0 OCLC 1354535847 Harrell Stevan 2023 An Ecological History of Modern China Seattle University of Washington Press ISBN 9780295751719 Heilmann Sebastian 2018 Red Swan How Unorthodox Policy Making Facilitated China s Rise The Chinese University of Hong Kong Press doi 10 2307 j ctv2n7q6b ISBN 978 962 996 827 4 JSTOR j ctv2n7q6b S2CID 158420253 Hu Richard 2023 Reinventing the Chinese City New York Columbia University Press ISBN 978 0 231 21101 7 Roach Stephen S 2022 Accidental Conflict America China and the Clash of False Narratives New Haven Yale University Press doi 10 12987 9780300269017 ISBN 978 0 300 26901 7 JSTOR j ctv2z0vv2v OCLC 1347023475 Shinn David H Eisenman Joshua 2023 China s Relations with Africa a New Era of Strategic Engagement New York Columbia University Press ISBN 978 0 231 21001 0 Library resources about State owned enterprises of China Resources in your library Resources in other libraries Retrieved from https en wikipedia org w index php title State owned enterprises of China amp oldid 1223002462, wikipedia, wiki, book, books, library,

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