State owned enterprise SOE reform has been going on for 20 years. What's different about the latest round
Tenev There's a huge privatization programme underway. Local government can no longer carry the burden of loss-making SOEs and attendant social costs. So they're being sold off in large numbers.
One difference with previous attempts is the sheer scale - some 80% of all SOEs have been touched in some way by corporatization that is to say, running the company according to the discipline of the Company Law, of which half have been privatized. You can now say that the traditional 100% state owned enterprise is...
