New York Times:

Regarding the merger of large SOEs, why does the government think that this is in line with the law of the market economy? Why not let the market decide? For example, let them take part in the market competition until one of them is shut down. Thank you.

Xiao Yaqing:

Thank you for your question.

Chinese enterprises have been competing in the market. After the 18th National Congress of the CPC, and especially after its third plenary session, the central government stressed that the market plays a decisive role in resource allocation and the government should play a better role in creating the best conditions. In the historical development of China's reform and opening up, a very important experience is that the process should never stop. We have been moving forward and have made remarkable achievements, especially since the 18th National Congress of the CPC. In the market economic context, central SOEs scored prominent achievements, including many innovations, enhancing the effects of mixed ownership reform and other reforms. All these show our success and progress in market-oriented reform.

The growth of an enterprise of any country must be in line with the country's laws and policies. Government regulation helps enterprises improve their competitiveness and develop themselves within the legal framework. The development of a market economy cannot be separated from the legal environment and market cultivation. In my view, the achievements made by Chinese enterprises and fresh and vivid experiences formed in market-oriented development have proven such development is feasible. Therefore, our development will become more international and market-oriented in the future. Thank you.

Related

Go to Forum >>0 Comment(s)