As of 2017, the People’s Republic of China has more state-owned enterprises (SOEs) than any other country, and the most SOEs among large national companies. As of the end of 2019, China’s SOEs represented 4.5% of the global economy and the total assets of all China’s SOEs, including those operating in the financial sector, reached US$78.08 trillion
State-owned enterprises accounted for over 60% of China’s market capitalization in 2019
SOEs continue to support stability through providing employment and maintaining low prices for key economic inputs. SOEs spend much of their investment on infrastructure development in China’s less developed interior provinces, and therefore also perform a redistributive role.
SOEs have monopolies in the industries of telecommunications, military equipment, railroads, tobacco, petroleum, and electric power. SOEs have a primary role in China’s energy sector.
Most Chinese universities are SOEs.
SOEs are important to major government initiatives including the targeted poverty alleviation campaign, Made in China 2025, and the Belt and Road Initiative. China’s SOEs are at the forefront of global seaport construction, and most new ports built by them are part of the BRI. State-owned banks are important sources of funding for port construction.
In addition to their own operations, SOEs invest in private enterprises. From the perspective of these private enterprises, this form of partial state ownership is helpful in obtaining financing from banks, particularly as prompts banks to require less collateral. Sometimes in investing in private enterprises, SOEs acquire enough shares to nationalize them. Over the period 2018–2020, 109 publicly traded enterprises with more than $100 billion in collective total assets were nationalized in this way
TLDR: The most important parts of the Chinese economy are fully state owned and many less important parts partly state owned. This allows the Chinese state to insure that the peoples’ hard needs are met while allowing market forces to direct the distribution of soft needs. This is something the USSR really struggled to do and led to a fetishization of western material culture. Markets existed before capitalism and they will likely exist after, there is just no reason for them to be the basis of social organization.
You should start reading their 5-year plans and comparing it to where they are 5 years from that plan. They are open about their intentions and typically exceed their goals.
They are pushing for a less market driven economy as we speak and regularly treat their bourgeois in a way that indicates the ruling class is not capitalist.
How much say does the proletariat have in how those state owned enterprises are managed or operated, or into what their profits are put towards?
Fuck if I know, I don’t live there and I am not an expert. I can guarantee however, it is more say than you have over your economy. The CPC is a vast political organ with over 100 million active members. Most people are satisfied with it as well.
Are you a participating member of a political party that directly controls your national economy? Do you feel like your state encourages you to do so? Are you satisfied with the ones that exist?
That’s a lot of whataboutism and it doesn’t really answer my question.
The CPC itself isn’t Marxist. China, as a whole, is Marxist-Lenninist pending the final transitional stage where the new, benevolent ruling class dissolves itself and hands power back to the proletariat. It’s been that way for decades.
And a state-owned enterprise isn’t inherently communist; it’s whatever the state is. If it’s controlled by the state, and the state isn’t classless, there needs to be full transparency in how the enterprise is operated. If the public has no say in its operations, a SOE is just a nationalized corporation executing on the whims of a ruling class—and that’s closer to capitalist-socialist ideology than communist ideology.
Um ackshually you cannot own property in China, You merely lease it from the communist party for 70 years.
Damn. Much comeback. Very wow.
96% of people own their home in China. I dont think many are paying rents.
https://worldpopulationreview.com/country-rankings/home-ownership-by-country
A large portion of rent is also usually directly covered by your employer
That site is strange or I need more coffee. It says 96 on top of the page but 90 further down. Also they calculated it by occupied home apparently, not by population? The homelessness rate is almost the same as the US’s according to the same site.
No idea, all the sources I can find either say 90 or 96 which is kind of a big difference. Either way thats much higher thsn the US at 65.6%
You can’t actually own land in the CCP’s China, but you can lease the rights to the land for which a civilian residence is on for 70 years.
Personally I think this makes real estate investment a bad idea in China but a lot of people do it.
Making housing a non-accumulable resource is good actually. Houses are for living in not speculation
I think treating housing like infrastructure rather than an investment is a good start to alleviating the issue
The Chinese Constitution has also played a role in shaping the country’s land management laws. The Constitution recognizes the right of citizens to own and use land, and it prohibits the unauthorized seizure of land. The Constitution also recognizes the right of the state to regulate land use and to protect the public interest.
Thats wild because their constitution says otherwise.
China should just turn communist tomorrow because thats how it works
