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Chinese State Owns Less Than Half Of Top 500 Manufacturing Companies
Beijing (AFP) Aug 20, 2006 Less than half of the top 500 manufacturing companies in officially communist China are actually state-owned, official media reported Sunday. Only 220 of the biggest enterprises in the manufacturing industry are directly controlled by the state, the Xinhua news agency said, citing a survey by the National Bureau of Statistics. The rest divide themselves between genuinely private companies and a less clear-cut category of collective enterprises, which may involve some measure of government control. Xinhua did not specify how many of the 500 enterprises belonged to each of the two groups. China's pragmatic style of communism has allowed for a significant and growing role for the private sector in recent years. The constitution reflects this, with a 1999 amendment upgrading the private sector to an "essential part" of China's economy. Another constitutional amendment in 2004 consolidated the private sector's status, saying that "legally obtained private property of the citizens shall not be violated." Controversially, the communist party has sent out similar signals in recent years by allowing capitalists and private entrepreneurs to join its ranks.
Source: Agence France-Presse Related Links Powering The World in the 21st Century
China To Modernize Military And Reunify Taiwan Says Defense Minister
Beijing (AFP) July 31, 2006China will be a force for global peace but it must arm its military with the latest in high-tech weapons and ensure that Taiwan never splits from the mainland, the defence minister said Monday. Minister Cao Gangchuan said modernization remained the armed forces' priority, the China News Service reported. |
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