Hello! Welcome to About China! 2018 marks the 40th anniversary of China’s reform and opening-up, the reform of state-owned enterprises (SOEs) has been a thread running through the process. Besides, it still plays a critical part in the 13th five-year plan. Therefore, today we will talk about SOE reform.
SOE reform is central to the China’s economic system reform. In 1979, "Several Rules Concerning the Expansion of Managerial and Marketing Autonomy in State-owned Industrial Enterprises” published by the State Council kicked off the reform of SOEs. After five stages of reform: separating government administration from enterprise management (1978-1984), separating ownership from management power (1985-1992), establishing modern enterprise system (1993-2002), making the joint-stock enterprise a major form of public ownership, further promoting mixed ownership (2013-2015), now the transformation of China’s SOEs to market entities have completed on the whole.
In 2015, “Guiding Opinions of the Communist Party of China Central Committee and the State Council on Deepening the Reform of State-Owned Enterprises” was released, which marked a new chapter of SOE reform, and around which a major framework of “1+N” has been constructed. According to the Report on the Work of the Government delivered in 2018, SOEs should become front-runners in pursuing high-quality development through reform and innovation. In the new era, SOE reform is to be continually broadened and deepened in order to ensure immense progress and rapid development of high goal, high level and high standard.