1. Friday May 25, 2018
      Home > News > Economy
      Text:| Print|

      Deepen SOE reforms

      2012-10-25 11:31 China Daily     Web Editor: qindexing comment

      A booming State sector, as a result of painful reforms in the later 1990s, has contributed significantly to China's remarkable growth over the past decade.

      However, further reforms of State-owned enterprises have become more urgent than ever if the country is to speed up economic transformation while tackling income inequity effectively.

      On Wednesday, the State Council delivered a report on the latest development and reform of SOEs at an ongoing session of the National People's Congress Standing Committee.

      At a time when the Chinese economy has slowed for a seventh straight quarter between July and September and the Chinese government has vowed to come up with an income reform plan by the end of this year, such a comprehensive review of these "national champions" is more than needed.

      The price paid to overhaul the State industries, most of which were struggling on the brink of bankruptcy in the later 1990s, was a necessary investment, which made SOEs the undeniable backbone of the Chinese economy.

      Domestically, SOEs saw their net profits increase from 320 billion yuan ($51.2 billion) to 1.9 trillion yuan, up 25.2 percent annually between 2003 and 2011, underpinning a decade of sound and stable economic growth for the country.

      Nevertheless, while recognizing the noteworthy progress of SOEs' development, policymakers and lawmakers should make a case for more market-oriented reforms in the State sector, not the other way round as some people have argued.

      The ongoing transformation of China's growth model from export and investment-led expansion to consumption-driven growth will require more competition in the key sectors that are currently dominated by State firms to provide consumers with better services and products. All the suggested benefits of State monopolies in helping stabilize the market must be carefully weighed against the interests of consumers.

      The need to narrow the country's income disparity means that State firms sitting on fat profits should shoulder their responsibilities in reducing the widening wage gap between those sectors they've monopolized and the rest of the economy.

      Given the huge improvement in their performance since reforms in the later 1990s, there is no need for SOEs to worry about such market-oriented reforms.

      Chinese authorities should also make it clear to these domestic corporate champions that only deepened reforms, not monopoly, can guarantee their future success, which is crucial to the country's long-term economic development.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 三年片在线观看免费观看大全中国| 国产一级片免费看| 免费福利在线观看| 无码日韩精品一区二区免费暖暖| 成年女人男人免费视频播放| 亚洲线精品一区二区三区影音先锋 | 亚洲AV无码一区二区三区电影 | 久久精品国产亚洲AV| 污视频在线观看免费| 亚洲永久永久永久永久永久精品| 国产精品成人亚洲| 97性无码区免费| 亚洲av无码一区二区三区乱子伦| 亚洲Aⅴ在线无码播放毛片一线天| 国产精品酒店视频免费看| 亚洲春色另类小说| 国产免费无码一区二区| 亚洲国产综合专区在线电影| 一级毛片在播放免费| 国产精品公开免费视频| 九九久久精品国产免费看小说| 亚洲午夜久久久久久久久电影网 | 污视频网站在线观看免费| 久久精品国产亚洲7777| 爱爱帝国亚洲一区二区三区| 亚洲综合最新无码专区| 免费无码婬片aaa直播表情| 亚洲热线99精品视频| 最近免费2019中文字幕大全| 国产亚洲免费的视频看| 波霸在线精品视频免费观看| 亚洲综合另类小说色区色噜噜| 女人体1963午夜免费视频| 亚洲av无码不卡| 最近免费中文字幕大全视频| 一区二区三区免费在线视频 | 亚洲伊人久久大香线蕉综合图片| 最近中文字幕大全免费视频| 亚洲变态另类一区二区三区| 成人永久免费福利视频网站| 亚洲国产精品成人综合色在线|