Private Economy and the Growth of Chinese Family Businesses

Author: Chen Ling, Editor-in-Chief
Publisher:
Publish Date: 2006-03-01
Features: Since the reform and opening-up, China's private economy and private enterprises have grown from nothing to something, from small to large, as the most dynamic growth pole. They have become a fundamental part of China's national economy and an important component of the socialist market economy, making significant contributions and achieving remarkable accomplishments in the smooth progress of the reform and opening-up, as well as in the sustainable, stable, and healthy development of the national economy. Chinese private enterprises can be broadly categorized into three types: The first category consists of indigenous private enterprises that gradually developed and expanded after the reform and opening-up, including de facto private enterprises operating under the guise of "township enterprises" with "red hats." The second category includes derivative private enterprises formed through the restructuring of state-owned enterprises and large and medium-sized township enterprises. The third category comprises foreign-invested and Sino-foreign joint venture enterprises that were established domestically and gradually developed. These three types of private enterprises have different origins, industrial distributions, organizational structures, and management models, and we should avoid lumping them together in research while ignoring their differences. The enterprises studied in this book are primarily of the indigenous type, with a particular focus on family-owned enterprises.