By Qi Changdong　

Date: 2004/01/30

Abstract:

The restructuring process of the SOEs is put into four phases in accordance with the policies issued by the central government, namely: (1) experiment on shareholding system with economic responsibility system as the main form; (2) experiment on modern corporate system through listing and relaxing the small firms; (3) incorporation of large enterprises while improving corporate governance; and (4) Restructuring phase on the basis of a new management system of state-owned assets. On the basis of analyzing the characteristics and emphases in the four phases, remaining problems in SOE restructuring will be identified for further solutions.