How will China’s SOE reform fare with three-year action?

Xinhuanet.com

 

— Central authorities deem the 2020-2022 period a “crucial stage” for SOE reform. Making the state-owned economy more competitive, innovative and resistant to risks is among the major goals they have in mind.
— The transition into modern enterprises is imperative as China continues to level the playing field, creating a fairer competition environment. Key industries, such as energy, railway, automobile, telecommunications and public utilities, have been gradually opened for private and foreign investment.
— Regulators are giving SOE executives more autonomy in making corporate decisions, including drafting annual investment schemes, arranging mixed-ownership reform of subsidiaries, and issuing short-term bonds.

by Xinhua writers Wang Xiuqiong, Zhao Yang, Wang Xi

BEIJING, Jan. 29 (Xinhua) — As a three-year action plan kicks reform into high gear, changes are gathering steam to remold China’s state-owned enterprises (SOEs) — the country’s economic backbone.
The 2020-2022 action plan, part of the decades-long efforts to transform SOEs into competitive, modern enterprises, is expected to leave a strong mark on the world’s second-largest economy.

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Has China given up on state-owned enterprise reform?

lowyinstitute.org

Rather than allowing the private sector more space, Beijing wants a tool for the implementation of government policy.

The Tonghua Iron and Steel Mill in Tonghua, Jilin province, China, in 2016, one of many state-run steel mills that struggled to modernise (Qilai Shen/In Pictures via Getty Images Images)The Tonghua Iron and Steel Mill in Tonghua, Jilin province, China, in 2016, one of many state-run steel mills that struggled to modernise (Qilai Shen/In Pictures via Getty Images Images)Published 15 Apr 2021 10:00   0 Comments   

Outside observers have all but given up hope that China will engage in meaningful state-owned enterprise (SOE) reform. There is a pervasive sense that rather than shrinking SOEs, China’s leaders are committed to increasing their prominence within the economy.

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Ngân hàng Trung ương Trung Quốc có thể mất sạch tiền dự trữ do nợ xấu

Ngân hàng Trung ương Trung Quốc có thể mất sạch tiền dự trữ do nợ xấu

 Trà Nguyễn • 19:07, 17/04/20NTD

Tính toán của nhóm chuyên gia kinh tế NTDVN cho thấy nếu Ngân hàng Nhân dân Trung Quốc (PBoC) hạch toán nợ theo chuẩn kế toán quốc tế, nợ xấu sẽ lên tới 5.600 tỷ USD, chiếm tới 39,4% GDP. Khoản nợ xấu này sẽ khiến PBoC mất toàn bộ khoản dự trữ bắt buộc mà ngân hàng thương mại (NHTM) gửi, kèm theo 42,28% khối lượng ngoại hối dự trữ. PBoC không còn dư địa chính sách tiền tệ như họ tuyên truyền… Tiếp tục đọc “Ngân hàng Trung ương Trung Quốc có thể mất sạch tiền dự trữ do nợ xấu”

Plan for $10 Billion Chip Plant Shows China’s Growing Pull

Sanjay Jha, the chief executive of GlobalFoundries. The company will build an advanced semiconductor factory in Chengdu, China. Credit Arno Burgi/European Pressphoto Agency

HONG KONG — After Intel and Foxconn said they would build advanced factories in America, it might have seemed as if the United States were gaining high-end manufacturing momentum.

But on Friday, the California-based chip maker GlobalFoundries announced a $10 billion project in China, showing how the center of gravity continues to shift across the Pacific.

The new advanced semiconductor factory, in the central Chinese city of Chengdu, is only the most recent in an array of investments, often by major multinationals, into China with the support of the Chinese government. The projects have become markedly more sophisticated, making more modern microchips, memory chips or flat-panel displays.

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