State uses infrastructure spending to counter the Asian crisis

The congress endorsed Zhu Rongji as premier and a program of administrative, financial and state-enterprise reform. A stronger central state would regulate markets and external integration, while...

The government set a three-year goal to improve large and medium SOEs and reduce losses through restructuring and support. The policy addressed chronic inefficiency but distributed adjustment...

The reform reduced and reorganized central ministries, separating some government functions from industrial management. Marketization relied on a reconfigured state that continued to steer capital and...

The notice shifted housing toward money, purchase and a commercial market. It boosted construction and demand but converted a work-unit benefit into an asset market; workers with higher incomes gained...

The banking system was reorganized to reduce local influence over monetary operations and strengthen central control. This was a centralizing change inside a market transition, not state withdrawal.

The rules offered partial support as layoffs and enterprise closures grew. Access depended on formal employment records and local capacity, accompanying restructuring rather than preventing risk...

The amendment strengthened legal status for private and individual economies within the socialist market system. The state continued to guide and supervise private activity, embedding it within...

The law established a common framework for economic contracts and took effect in October. It supported a national market, although firms with capital and legal expertise were better placed to use it...

The Fourth Plenum called for modern corporate governance and stronger enterprise groups. Public ownership remained strategic, while managerial autonomy and restructuring expanded, sharpening...

The unified framework supported commercial transactions across ownership forms before WTO accession. Predictability expanded, but bargaining power and access to enforcement remained unequal.