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Whither China?Restarting the Reform Agenda$
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Wu Jinglian and Ma Guochuan

Print publication date: 2016

Print ISBN-13: 9780190223151

Published to Oxford Scholarship Online: May 2016

DOI: 10.1093/acprof:oso/9780190223151.001.0001

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Redefining Property Rights

Redefining Property Rights

Chapter:
(p.150) Dialogue 11 Redefining Property Rights
Source:
Whither China?
Author(s):

Wu Jinglian

Ma Guochuan

Xiaofeng Hua

Nancy Hearst

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190223151.003.0011

An important task in the transition to a market economy is to transform the ownership structure. In 1993, a document of the Central Committee of the Chinese Communist Party declared that management of small state-owned enterprises could be contracted out, leased, shifted to partnerships, or sold to collectives or individuals. But these initiatives were met with criticism from so-called leftists in the form of several Ten-Thousand-Chinese-Word Manifestos. The manifestos criticized the government for letting the nonstate sector grow faster than the state sector. But officials and scholars in favor of the market-oriented reforms fought back, arguing that the state-owned enterprises should retreat from the competitive sectors. This debate came to an end when the 1997 Fifteenth Communist Party Congress called for a readjustment of the ownership structure, even though public ownership in various forms remained dominant in China’s economic system.

Keywords:   Chapter market economy, contracting of small state-owned enterprises, Ten-Thousand-Chinese-Word Manifestos, public ownership, property rights, state ownership, socialism

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