30 years of prosperity in China’s non-state economy

LIU Yingqiu 1 ( 刘迎秋 ) and LIU Xiahui 2 ( 刘霞辉 )
1Dean and Doctoral Adviser of the Graduate School at the CASS, Director and Fellow of the Center for Private EconomicStudies at the CASS
2Director and Fellow of the Office of Economic Growth Theory of the Institute of Economics at the CASS

Abstract:

If the most distinctive feature of China’s recent history is its reform and opening to the outside world, then the most distinctive feature of this reform is the rapid rise of China’s non-state-owned economy. This part of the economy includes collectively owned urban and township enterprises, urban and rural self employed industrial and commercial households, private enterprises and non-state-controlled joint stock enterprises, as well as wholly foreign-owned enterprises operating in China.1 As a result of state owned enterprise (SOE) reform and nearly three decades of rapid, sustained development of the non-state-owned economy, China has laid a strong foundation for further market-economy development.

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