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Enterprising ChinaBusiness, Economic, and Legal Developments since 1979$
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Linda Yueh

Print publication date: 2011

Print ISBN-13: 9780199205837

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199205837.001.0001

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State-Owned Enterprises

State-Owned Enterprises

Law as Instrument of Economic Policy

(p.97) 4 State-Owned Enterprises
Enterprising China

Linda Yeuh

Oxford University Press

This chapter deals with state-owned enterprises (SOEs). SOEs dominated the Chinese economy throughout the centrally planned period from 1949 to 1978. The state funded SOEs directly through subsidies and indirectly through the state-owned banks. The transfer of credit to SOEs from state-owned banks resulted in significant accumulation of non-performing loans (NPLs). The system of supporting SOEs led to inflationary episodes and worsened by the ‘dual track’ transition where the state-owned banks undertake direct lending to the more efficient non-state sector.

Keywords:   state-owned enterprises, SOEs, Chinese economy, state-owned banks, non-performing loans, NPLs, dual track transition

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