Understanding China, One Blog at a Time

An American in China

State Ownership of Business in China

Posted by w_thames_the_d on January 23, 2011

From The Party – Richard McGregor

“If I am not mistaken, our country’s private enterprises produce over 40 per cent of GDP nationally. Here in Shanghai, state enterprises produce nearly 80 per cent of GDP. If you want to discuss who adheres most to socialism, couldn’t it be said to be Shanghai?’”

(Chen Liangyu, Shanghai Party Secretary)

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