Overview

The reforms of China’s state-owned enterprises (SOEs) in the 1990s were politically unpleasant and socially threatening. There were mass closures of firms, tens of millions of lay-offs and stock market listings for many of the biggest state firms, which made them run like private companies. Today, SOEs produce one-third of China’s GDP and provide one-fifth of all its jobs. SOEs have been given the task of re-engineering the relations of production so that they remain at the ‘core’ as espoused by Communist Party of China General Secretary Xi Jinping during the 19th Party Congress.

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Aravind Yelery is Senior Research Fellow at the HSBC Business School, Peking University, Beijing/Shenzhen.He is involved in teaching and curating courses for PKU and select universities globally, and at a few Indian Institutes of Management (IIMs) in India. In 2019, he won the Best Courseware Project Funds Award at Peking University.

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