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nger required to turn over all their profits but just submitted a fixed amount of profits to the government, they allowed to keep a portion of their profit and spend this for their own purposes (Gu, 2001). CRS was attempt to move the enterprises to more entrepreneurial role with the reward of retain profits, managers have more autonomy and sufficient power to make the enterprises respond efficiently to the market force and move away from an old strict planning regime (Morris, et al,2002). However, this system was not a success in terms of company performance (Steinfeld, 1998).留学生论文网

In 1995 the government found new alternative policy for SOEs reform. The Chinese government announced the new policy in the Ninth five-year plan, which aimed to transform the management mechanisms of SOEs, a strategy of 'strengthen large state enterprises and liberalize small enterprise' (Zhuada Fangxiao) was raised (Otsuka et al, 1998). Most small and medium state-owned enterprises tried to transform the ownership and management mechanism through reorganization (Liu, Wu, 2006). The small SOEs should be sold off, merged with large or profitable SOEs or go bankrupt and wholesale redundancies to achieve higher production efficiency. For the large SOEs in order to turn around losses and low profit situation, they had to change their management style. Large sized SOEs have been considerate to take an internal reform and taking more western style organizational forms to be more responsive (Morris et al, 2002).

Moreover, the new Chinese government, under the leadership of Zhu Rongji announced the other method to solve these problems. Chinese commercial banks are allowed to be transformed into more autonomous commercial institutions and the bankruptcy of inefficient SOEs will be permitted. Some SOEs which fall in their profits should be sold off or reduced their employees' salaries (Satya, 1998).

As Satya (1998) pointed out that: "What the central government would like to do is to significantly improve the efficiency(and revenues) of those SOEs which can be saved and allow the rest to either go bankrupt or be sold off to domestic or forign economic agents more capable of efficiently using the remaining assets." (Satya, 1998)

 

Conclusion

 

In this essay, the problems and the reform of SOEs in China have been surveyed and analysed. A picture of the situation can be concluded that after the government tried to cope with the SOEs problems, specific measures have been taken to increase the performance of the enterprises, the whole economic circumstance were also better, but there are https://www.51lunwen.org/economics/ still some problems left and have a deep influence to the China's economic system. In addition, many factors, such as financial loopholes, redundant workers and unclear regulations still need the government to consider.

 

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