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The Relationship Between the Chinese Government and Corporatised Enterprises in the Current Transition Period

Although many state-owned enterprises (SOEs) have been converted to limited liability companies or joint stock companies either wholly state-owned or in mixed state-private ownership form, many problems still exist. One of the reasons is that state shares and legal-person shares which account for more than 50 percent in a corporatised enterprise are not tradable on the stock exchange without the government’s permission. This article discusses this and other issues concerning state-owned corporatised enterprises from the angle of SOE reform history and the relationship with the Chinese government at different reform stages. Attention is focused on the state assets management system and the roles of state assets representatives, as well as on some policy issues behind the piecemeal reforms.