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China's plan in September 2015 to reorganize its state owned enterprises in key sectors as state owned asset management firms with minority private investors and operating to maximize profits
09/14/2015
Energy, resources and telecom sectors will be taken up to create new entities that operate like private companies to maximize profits, hire managers at market rates, and take on private investors. The state will continue to maintain its ownership but require the companies to operate and compete similar to private firms. After intense discussion the Singapore model at Temasek is accepted upto a point, the senior management will still be appointed by the Chinese government. The current plan reflects the experience of Chinese president Xi Jinping in Zhejiang province and Shanghai where the private component in a state enterprise provided vigor to the enterprise. Movement is slow because of competing views within the Communist Party and Sasac, the State-Owned Assets Supervision and Administration Commission.
Grouped Articles
China Unveils Overhaul of Bloated State Sector
Wall Street Journal 09.14.2015
Full Transcript: Interview With Chinese President Xi Jinping
Wall Street Journal 09.22.2015
Xi Gives America Inc. a Reality Check
Wall Street Journal 09.22.2015
Opinion | Xi Jinping’s Dilemma
International New York Times 04.27.2017
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