Presentation Transcript
SOE, WTO and China’s Economic System Reform Li Jikai China International Trust and Investment Corporation China International Economic Consultants: SOE, WTO and China’s Economic System Reform Li Jikai China International Trust and Investment Corporation China International Economic Consultants
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform Weightings of enterprises of various ownership in the total industrial output value in selected years The industrial output value in 1999 totaled RMB12.6 trillion,
equivalent to USD1.5 trillion
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform Weightings of enterprises of various ownership in the total social commodity retail volume in selected years
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform Change in the Employment in SOEs
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform The foundation and core of the old economic system
The state ownership and de-linking of government administration from enterprise operations
The ownership structure and corporate governance
Psychological and sociological impact Issues of SOE
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform The phasing-off of state capital from the small and medium-sized enterprise operations
The reduction in the number of the SOEs
Before 1997 1999
400,000 Less than 220,000
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform DE-LINKING breaks up affiliation 7,000
SOEs DEBT-TURNED-EQUITY transactions 600
SOEs EQUITY DIVERSIFICATION
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform From 1998 to 2000
22 listed on overseas stock markets
including the Hong Kong stock market
307 listed on the domestic stock markets
A TOTAL FLOATATION OF RMB500 BILLION Number of listed Chinese SOEs
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform Re-establishing corporate governance system
Alleviating the role of the SOEs to undertake social responsibilities
Promoting technical upgrading Efforts have been made in the aspect of
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform Are the Chinese SOEs preparing for the challenge of WTO?
Yes !
Are they ready for the WTO?
Not Yet ! Two Questions
SOE, WTO and China’s Economic System Reform: SOE, WTO and China’s Economic System Reform Government assistance
Innovation on corporate governance
Capacity of social security system
Demand for expertise Further efforts need to be made in the aspect of