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Reforming the governance structure of China's state‐owned enterprises
Author(s) -
Xiao Geng
Publication year - 1998
Publication title -
public administration and development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.574
H-Index - 44
eISSN - 1099-162X
pISSN - 0271-2075
DOI - 10.1002/(sici)1099-162x(199808)18:3<273::aid-pad17>3.0.co;2-t
Subject(s) - hierarchy , corporate governance , china , state (computer science) , work (physics) , asset (computer security) , state owned , business , market economy , subject (documents) , economic system , economics , political science , accounting , law and economics , public administration , finance , law , engineering , algorithm , mechanical engineering , computer security , library science , computer science
Abstract Over the last 20 years, China's state‐owned enterprises have been the subject of significant reform. As discussed in this article, they were previously state‐run work units within the centralized governmental hierarchy, but in recent years they have been transformed in such a way as to have a recognized legal personality. Provision has also been made for them to be reconstituted as modern corporate entities under the Company Law (which came into effect in 1994) and to become an integral component of an appropriately organized system of state asset management. Progress has been slow in this regard, but some positive developments have occurred and, in late 1997, the door was officially opened for some of them to be partially or even fully divested. © 1998 John Wiley & Sons, Ltd.