Mr Jiang has given the green light to mass privatisation by pledging to boldly push forward multiple forms of ownership.
'China needs to develop diverse forms of ownership with public ownership in the dominant position,' he said yesterday.
However, he evaded criticism from the leftists by artfully introducing the term 'mixed-ownership economy' as he talked about the transformation of private sectors.
A source said Mr Jiang was asserting that even shareholding companies could still have public elements since the Government, private entrepreneurs and even foreigners could own shares.
However, he warned it would be difficult to avoid unemployment, saying layoffs would increase as the Government moved to tackle state sector reform.
And he hinted that workers should no longer rely solely on the state to provide them with a living. 'All workers should change their ideas about employment and improve their own quality.' In order to make sure stability and order were not threatened by workers' unrest, Mr Jiang called on party secretaries at all levels to take precautionary measures to solve 'contradictions' as reforms progressed.
