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(China Daily)
Updated: 2008-07-03 07:37 抓大放小 (zhuada fangxiao) Restructuring Major Enterprises and Relaxing Control over Small Ones A strategy for reforming the State-owned enterprises stressing that the major enterprises in key sectors should be supported to gain further development while the smaller ones should compete in the market. Initiated in the mid-1990s when the country tried to step up the efficiency of State-owned enterprises as a whole, the strategy was formally accepted as a principle for reforming the public-owned economy in 1997. Big public enterprises were encouraged to develop into groups or establish partnership with each other. Smaller public enterprises were reformed flexibly through market-oriented means, like becoming shareholding businesses, acquisition and merger and contracting managing rights to individuals. (China Daily 07/03/2008 page8) |
