what is a state owned enterprise in china
State-owned enterprise After 1949, all business entities in the People's Republic of China were created and owned by the government. In the late 1980s, the government began to reform the state-owned enterprise, and during the 1990s and 2000s, many mid-sized and small sized state-owned enterprises were privatized and went public. There are a number of different corporate forms which result in a mixture of public and private capital. In PRC terminology, a state-owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company.[citation needed] State-owned enterprises are mostly governed by both local governments' SASAC and, in the central government, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. However, some state-owned enterprise were governed by China Investment Corporation (and its domestic arm Central Huijin Investment), as well as under the governance of Ministry of Education for the university-run enterprises, or some financial institutes that were under the governance of the Ministry of Finance.