S-Space Graduate School of International Studies (국제대학원) Dept. of International Studies (국제학과) 국제지역연구 국제지역연구 vol.05 (1996)
중국의 사회주의 경제개혁의 전망 - “법인사회주의”론을 중심으로
Prospects of Socialist Economic Reform in China: With Focus on “Legal Person Socialism”
- Issue Date
- 서울대학교 지역종합연구소
- 지역연구, Vol.05 No.1, pp. 45-57
- The transformation of the old state enterprises into shareholding corporations is now being attempted as one form of corporatization in China, The Chinese authorities intend to shareholding corporations. This strategy, which can be termed ‘legal person socialism,’ can be successful to the extent that corporatization brings in more funds and autonomy to the enterprises, but it will eventually have to invite more and more individual shareholders. Only currently-well-performing state enterprises will be transformed into shareholding corporations and be able to sell stocks successfully. For those loss-making enterprises, transformation into shareholding corporations is now rarely permitted by the authorities and will not be a solution even if attempted. Thus, it can be said that the idea of legal person socialism is viable only for the currently-well-performing enterprises if the state concentrates its financial and administrative resources on them, and that the loss-making hopeless enterprises are likely to be sold to or merged by domestic and foreign private investors. Then, an emerging picture of the Chinese economy is of a dual economic structure consisting of a majority of privately-owned and a minority of state-owned or controlled enterprises.