China’s State-Owned Enterprise Reform Since 2013

Abstract

Starting from the 3rd Plenary Session of the 18th Central Committee of the Communist Party of China held in November 2013, China has begun another round of state-owned enterprise (SOE) reform. By examining policy documents, analysing the pilot SOE s and conducing an empirical study based on a unique dataset of control rights transfers between SOE s and privately owned enterprises in Chinese stock markets during 2014–2019, this study concludes that this round of SOE reform has made China’s SOE s stronger and possibly bigger. These findings are important to firms, scholars and policy-makers around the world and make further contributions to the debates on China’s SOE reform.