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Establishment
of the Diversified-Ownership Economy
Before the introduction
of the policies of reform and opening to the outside world, China
had a unitary public ownership economy, which lacked vitality. But
since the putting into practice of the reform and opening to the outside
world, the Chinese government has encouraged the development of diversified
economic elements while insisting on the primacy of public ownership.
As a result, both the individual and private economies have developed
rapidly. By the end of 1998, the registered industrial and commercial
enterprises of individual and private ownership amounted to 32.4 million,
and they had 78.24 million employees; Chinese-foreign joint ventures,
Chinese-foreign cooperative enterprises and foreign ventures numbered
325,000, absorbing 265.6 billion yuan of foreign direct investments,
the development and expansion of these enterprises have played important
roles in many aspects, such as bringing convenience to people??s everyday
lives, making up for the deficiency of construction funds, and introducing
advanced technologies and management from abroad. At the same time
the control of the public-ownership economy has been further strengthened.
In 1999, the increased value of state-owned enterprises and industrial
enterprises above a certain scale made up 24.7 percent of the notion??s
total gross domestic. Now the mutual development pattern for diversified
ownership with the public ownership economy as the mainstay has been
basically formed. |
