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China's breathtaking economic reform, including the rise of private
enterprise, has often led observers to assume that the country's
economic system has been transformed into a capitalist economy
dominated by private enterprise. A number of economic, political
and policy trends demonstrate that the Chinese economy has become
more market-oriented. Chinese statistics show a dramatic rise in
the number of ostensibly private enterprises since the late 1970s.
China now has stock exchanges in two cities and hundreds of Chinese
firms now have listings in exchanges beyond the mainland. In 1978,
capitalists in China were official "class enemies" but in 2001 they
were welcomed into the Chinese Communist Party. China's once
insular economy now imports more than one trillion dollars annually
and is one of the top destinations for foreign investments. This
book examines state-owned enterprises (SOEs) in China and the role
they play in China's economy, politics and foreign policy.
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