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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.

相關(guān)閱讀

工資指導(dǎo)價 income benchmark

綜合能力 all-round ability

資本支出 capital expenditure(capex)

剛性需求 rigid demand

（英語點津 陳丹妮 編輯）

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