101. The Functions and Problems of China’s State-Owned Economy
- Author:
- Wei-xiao Jia
- Publication Date:
- 01-2020
- Content Type:
- Journal Article
- Journal:
- Polish Political Science Yearbook
- Institution:
- Polish Political Science Association (PPSA)
- Abstract:
- At the national symposium on the reform of state-owned enterprises, General Secretary Xi Jinping gave important instructions that state-owned enterprises are important forces in strengthening the country’s overall strength and safeguarding the common interests of the people. Therefore, the country must make state-owned enterprises „stronger, better, and bigger”. Huge objections arose in the academic field. This article thoroughly analyzes China’s state-owned economy from the perspective of Marx’s historical materialism, national productivity, and social development, and clarifies the historical status and role of China’s state-owned economy. At the same time, this article comprehensively analyzes the economic significance of making state-owned enterprises „stronger, better, and bigger” from the perspective of total factor productivity, and proposes that since the state-owned economy is backed up by the state, investing in technology research and development has its advantages. However, because the state-owned economy is biased toward administrative instructions, it often lacks efficiency, so if the state-owned economy wants to become „stronger, better, and bigger”, it must undergo reforms in terms of management efficiency.
- Topic:
- Economics, Governance, Reform, State Building, State-Owned Enterprises, and Productivity
- Political Geography:
- China and Asia