China's Silent Revolution

IFC Asia economist and China expert, Stoyan Tenev discusses SOE restructuring in China.

State owned enterprise SOE reform has been going on for 20 years. What's different about the latest round

Tenev There's a huge privatization programme underway. Local government can no longer carry the burden of loss-making SOEs and attendant social costs. So they're being sold off in large numbers.

One difference with previous attempts is the sheer scale - some 80% of all SOEs have been touched in some way by...

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