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A Study on the Advance of the State and its Influence on the Private Sector during the Xi Jinping Era

  • Journal of Asia-Pacific Studies
  • Abbr : JAPS
  • 2023, 30(2), pp.5-37
  • DOI : 10.18107/japs.2023.30.2.001
  • Publisher : Institute of Global Affairs
  • Research Area : Social Science > Social Science in general
  • Received : May 8, 2023
  • Accepted : June 19, 2023
  • Published : June 30, 2023

Yoon, Taehee 1

1상명대학교

Accredited

ABSTRACT

Based on the analysis of the advance of the state and its influence on the private sector, the article claims the following arguments. There occurred a controversy on guojin mintui (the advance of the state and the retreat of the private sector) due to the capacity building of the state-owned enterprise(SOE) through the State-owned Assets Supervision and Administration Commission, the Tieben incident, and the Lang-Gu debate. The controversy on guojin mintui further intensified after the Global Financial Crisis due to the government’s stimulus program, the SOE’s acquisition of competitive private firms, the government-led restructuring of the industry, and the expansion of SOEs into the competitive sector. The Xi Jinping administration’s decision to strengthen the capacity of the SOEs had a significant impact on the private sector due to its preferential treatment toward the SOEs. In addition, the Mixed-ownership reform during the Xi Jinping era allowed state-owned capital to expand its influence in private companies. And the case of the government guidance fund also implied that the state could strengthen its influence over the private sector through investment means.

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