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  • Sep 24, 2014
  • Updated: 8:50am

Socialist Market Economy

Toiling in a semi-capitalist purgatory

Private property rights are now in China's constitution. So what?

Monday, 15 March, 2004, 12:00am

Buyout nod for private entities

The Guangdong government has allowed private and individually run businesses to buy into state-owned or collective-owned enterprises in non-monopolised sectors.

They have also been cleared to become majority shareholders in state-owned entities engaged in ordinary trades.

9 Sep 1999 - 12:00am

State sector becomes increasingly swollen

Here is an interesting anomaly for you, one that reminds you to treat some official figures coming out of the mainland with a little scepticism.

According to the authorities in Beijing, the transition to a more market-oriented economy is proceeding smoothly with state-owned enterprises now accounting for only about 30 per cent of the gross value of industrial output.

29 Mar 1999 - 12:00am

Private firms win status

It was a scene that Chairman Mao could never have imagined - nearly 3,000 delegates of the National People's Congress (NPC) listening to a government leader explain the need to amend the constitution to raise the status of the private sector.

11 Mar 1999 - 12:00am

New law 'not enough for private sector'

The father of the Bankruptcy Law has backed a proposed constitutional amendment giving more protection to private business but said it did not encourage a sector that could account for nearly one-third of the economy.

4 Mar 1999 - 12:00am

Mainland urban jobless seen at 10pc for next 15 years

The mainland will have urban unemployment of at least 10 per cent for the next 15 years even if it maintains economic growth of 7 to 8 per cent during the same period, according to a leading newspaper.

The China Economic Times yesterday carried a detailed report on the gravity of unemployment, reflecting growing public recognition of the problem.

8 Feb 1999 - 12:00am

Company pioneers mourn ambush by red-tape renegades

Aseminar in a Beijing hotel has attracted 100 private businessmen on how to improve management, and 12 are from the central city of Nanjing.

'It is October 1 and the start of the police Strike Hard anti-crime campaign,' complains Manhattan Disco Plaza chairman Wang Xiaomin.

6 Jan 1999 - 12:00am

Feedgrain king nourishes hopes for healthy change in state sector

In southwest Beijing's Fangshan suburb, a group of yellow-brick buildings rises out of frozen earth covered by light snow. Above them is a sign: Hope Group Feedgrain Co.

26 Jan 1998 - 12:00am

Mass lay-offs as Liaoning plans revamp

BETWEEN 250,000 and 300,000 workers will be laid off by firms in Liaoning in each of the next three years, the Governor said last night.

Wen Shizhen was unveiling a drastic plan to revitalise the province's state sector under which 90 per cent of medium-sized and large state-owned companies will be merged with firms of different ownership over the next three years.

28 Dec 1997 - 12:00am

'Expand welfare reforms'

A TOP government official overseeing economic reforms has called for the scope of the social security system to be expanded.

Wang Dongjin, Vice-Minister of the State Commission for Restructuring the Economy, made the call at a seminar in Qingdao to discuss changes to the allocation of public resources.

16 Nov 1997 - 12:00am

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