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In the University Paper, ''Is China still Socialist'' by Khoo Heikoo, their research goes into detail of the market share of the economy. In 2010, at least 94% of all financial capital and revenue is owned by SOE's out of 150 largest companies in China.<ref>[https://kclpure.kcl.ac.uk/portal/files/136790902/2018_Khoo_Heiko_1068757_ethesis.pdf Page 86, Is China still socialist? A Marxist critique of János Kornai’s analysis of China] - Khoo, Heikoo.</ref>  In the University paper, ''The Rise of the Investor State: State Capital in the Chinese Economy''  by Hao Chen and Meg Rithmere discusses how state shareholders can influence the private sector. With the overall ownership of investment firms in 2017 being 80.9% central state owned, 13.7% local state owned and only 4.67% being truly private. The paper also goes on to state:<ref>[https://link.springer.com/article/10.1007/s12116-020-09308-3 The Rise of the Investor State: State Capital in the Chinese Economy] - Hao Chen and Meg Rithmire</ref><blockquote>
In the University Paper, ''Is China still Socialist'' by Khoo Heikoo, their research goes into detail of the market share of the economy. In 2010, at least 94% of all financial capital and revenue is owned by SOE's out of 150 largest companies in China.<ref>[https://kclpure.kcl.ac.uk/portal/files/136790902/2018_Khoo_Heiko_1068757_ethesis.pdf Page 86, Is China still socialist? A Marxist critique of János Kornai’s analysis of China] - Khoo, Heikoo.</ref>  In the University paper, ''The Rise of the Investor State: State Capital in the Chinese Economy''  by Hao Chen and Meg Rithmere discusses how state shareholders can influence the private sector. With the overall ownership of investment firms in 2017 being 80.9% central state owned, 13.7% local state owned and only 4.67% being truly private. The paper also goes on to state:<ref>[https://link.springer.com/article/10.1007/s12116-020-09308-3 The Rise of the Investor State: State Capital in the Chinese Economy] - Hao Chen and Meg Rithmire</ref><blockquote>


"The state’s role as owner of firms has narrowed to include a set of large, national champion firms at the central level, but the deployment of state capital has morphed form rather than abated. As we have shown, the state invests broadly in the private sector in a number of forms, a fact that complicates the “state versus private” dichotomy that has dominated the study of China’s political economy during the reform era. Further, the deployment of state capital into the wider economy has accompanied a change in the structure of the state; hundreds of shareholding firms, large and small and owned by local and central levels of the state, now interface extensively with private firms, can intervene with ease in stock markets, and appear to constitute new agents in the execution of the CCP’s overall economic policy."</blockquote>''The Ascendency of State-owned Enterprises in China: development, controversy and problems'' by Hong Yu also states:<ref>[http://dx.doi.org/10.1080/10670564.2013.809990 Hong Yu (2014) The Ascendency of State-owned Enterprises in China: development, controversy and problems, Journal of Contemporary China], 23:85, 161-182, DOI: 10.1080/10670564.2013.809990</ref><blockquote>"In terms of total sales revenue of China’s top 100 enterprises in 2011, the SOEs accounted for around 90%. The state sector remains the driving force behind economic development in China. All the big commercial banks in China are SOEs. More importantly, given the fact that township and village enterprises (TVEs) owned by local governments belong to the state sector but are not regarded as SOEs,  and a large number of entities operating inside and outside of China are actually owned or controlled indirectly via SOEs’ subsidiaries, the true size of the SOEs is unknown. Their influence is far greater than official statistics suggest. Woetzel’s study also demonstrates that many firms, which were partially privatized but with the state remaining as a majority shareholder, have not been counted in the SOE category in official statistics."</blockquote>In terms of State Owned Enterprises, according to the book, ''The Logic of Economic Reform in China''  the following states that (units in Yuan/RMB):<blockquote>For the perspective of overall development of the state-owned enterprises, operating income of state-owned and state-held enterprises (excluding financial enterprises) increased from 10.73 trillion to 39.25 trillion with the annual increase of 17.6% from 2003 to 2011; total assets and owner’s equity were 85.37 trillion and 29.17 trillion, respectively 4.3 times and 3.5 times compared with those in 2003.<ref name=":21">[https://books.google.com.hk/books?id=rnT_CgAAQBAJ&pg=PA196&lpg=PA196&dq=Huang+Qunhui+(2013)+How+to+actively+develop+mixed-ownership+economy+in+New+Era.+Administration+Reform,+Dec+2013&source=bl&ots=WbA8hJmYTr&sig=ACfU3U34LWt5hyrz8GqLl5U5tcvwdrodpA&hl=en&sa=X&ved=2ahUKEwj35dS5q6CAAxWIAt4KHRhHBTIQ6AF6BAgcEAM#v=onepage&q=Huang%20Qunhui%20(2013)%20How%20to%20actively%20develop%20mixed-ownership%20economy%20in%20New%20Era.%20Administration%20Reform%2C%20Dec%202013&f=false The Logic of Economic reform in China - Xiaojing Zhang, Xin Chang] - Page 177</ref></blockquote>In 2012, the total assets held by the State sector in China amounted to 55.78% or 53% depending on the estimate used.<ref>The Basic Economic System of China by Changhong Pei, Chunxu Yang and Xinming Yang, page 24-25</ref> However, in comparison with European nations during the same time period, the total assets of eastern European nations held by the state sector were around 13%. For the Netherlands, Italy, Spain, France, Belgium and Portugal, it was around 4.60%. For Ireland and the UK, even less than that number. For Austria and Germany, around 10.79%. For Scandinavia, it was 6.02%<ref>[https://www.researchgate.net/publication/344833099_State-Owned_Enterprises_Across_Europe_Stylized_Facts_from_a_Large_Firm-Level_Dataset State-Owned Enterprises Across Europe: Stylized Facts from a Large Firm-Level Dataset], by Bram De Lange and Bruno Merlevede, p 17</ref>
"The state’s role as owner of firms has narrowed to include a set of large, national champion firms at the central level, but the deployment of state capital has morphed form rather than abated. As we have shown, the state invests broadly in the private sector in a number of forms, a fact that complicates the “state versus private” dichotomy that has dominated the study of China’s political economy during the reform era. Further, the deployment of state capital into the wider economy has accompanied a change in the structure of the state; hundreds of shareholding firms, large and small and owned by local and central levels of the state, now interface extensively with private firms, can intervene with ease in stock markets, and appear to constitute new agents in the execution of the CCP’s overall economic policy."</blockquote>''The Ascendency of State-owned Enterprises in China: development, controversy and problems'' by Hong Yu also states:<ref>[http://dx.doi.org/10.1080/10670564.2013.809990 Hong Yu (2014) The Ascendency of State-owned Enterprises in China: development, controversy and problems, Journal of Contemporary China], 23:85, 161-182, DOI: 10.1080/10670564.2013.809990</ref><blockquote>"In terms of total sales revenue of China’s top 100 enterprises in 2011, the SOEs accounted for around 90%. The state sector remains the driving force behind economic development in China. All the big commercial banks in China are SOEs. More importantly, given the fact that township and village enterprises (TVEs) owned by local governments belong to the state sector but are not regarded as SOEs,  and a large number of entities operating inside and outside of China are actually owned or controlled indirectly via SOEs’ subsidiaries, the true size of the SOEs is unknown. Their influence is far greater than official statistics suggest. Woetzel’s study also demonstrates that many firms, which were partially privatized but with the state remaining as a majority shareholder, have not been counted in the SOE category in official statistics."</blockquote>In terms of State Owned Enterprises, according to the book, ''The Logic of Economic Reform in China''  the following states that (units in Yuan/RMB):<blockquote>For the perspective of overall development of the state-owned enterprises, operating income of state-owned and state-held enterprises (excluding financial enterprises) increased from 10.73 trillion to 39.25 trillion with the annual increase of 17.6% from 2003 to 2011; total assets and owner’s equity were 85.37 trillion and 29.17 trillion, respectively 4.3 times and 3.5 times compared with those in 2003.<ref name=":21">[https://books.google.com.hk/books?id=rnT_CgAAQBAJ&pg=PA196&lpg=PA196&dq=Huang+Qunhui+(2013)+How+to+actively+develop+mixed-ownership+economy+in+New+Era.+Administration+Reform,+Dec+2013&source=bl&ots=WbA8hJmYTr&sig=ACfU3U34LWt5hyrz8GqLl5U5tcvwdrodpA&hl=en&sa=X&ved=2ahUKEwj35dS5q6CAAxWIAt4KHRhHBTIQ6AF6BAgcEAM#v=onepage&q=Huang%20Qunhui%20(2013)%20How%20to%20actively%20develop%20mixed-ownership%20economy%20in%20New%20Era.%20Administration%20Reform%2C%20Dec%202013&f=false The Logic of Economic reform in China - Xiaojing Zhang, Xin Chang] - Page 177</ref></blockquote>In 2021, there was a total of (in 100 million yuan) worth of non-current industrial assets spread out across 3 sectors, state owned, private owned and foreign funded. State owned had 44% (352,249.3 RMB), private owned had 20% (159,928.4 RMB) and finally, foreign funded had 15% (111,107.4 RMB). The other 21% is omitted, most likely held by mixed ownership enterprises (enterprises with unclear ownership rights).<ref name=":233">按行业分国有控股工业企业主要经济指标(2012-至今), 资产总计(亿元) - 国家数据, 国家统计局 Main economic indicators of state-owned industrial enterprises by industry (2012-present), Total assets of state-controlled industrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref><ref name=":243">按行业分私营工业企业主要经济指标(2012-至今), 资产总计(亿元) - 国家数据, 国家统计局 Main economic indicators of private-owned industrial enterprises by industry (2012-present), Total assets of private-owned industrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref><ref name=":253">按行业分外商及港澳台商投资工业企业主要经济指标(2012-至今), 资产总计(亿元) -  国家数据, 国家统计局Main economic indicators of foreign-funded (hong kong, macau and taiwan) industrial enterprises by industry (2012-present), Total assets of foreign-fundedindustrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref>
In 2021, according to official Chinese national data, SOEs and Cooperative enterprises had majority non-current asset ownership in the following industrial sectors, this is measured out of SOEs, POEs, MOEs and foreign funded enterprises. (measured in 100 million RMB):<ref name=":23">按行业分国有控股工业企业主要经济指标(2012-至今), 资产总计(亿元) - 国家数据, 国家统计局 Main economic indicators of state-owned industrial enterprises by industry (2012-present), Total assets of state-controlled industrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref> <ref name=":24">按行业分私营工业企业主要经济指标(2012-至今), 资产总计(亿元) - 国家数据, 国家统计局 Main economic indicators of private-owned industrial enterprises by industry (2012-present), Total assets of private-owned industrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref> <ref name=":25">按行业分外商及港澳台商投资工业企业主要经济指标(2012-至今), 资产总计(亿元) -  国家数据, 国家统计局Main economic indicators of foreign-funded (hong kong, macau and taiwan) industrial enterprises by industry (2012-present), Total assets of foreign-fundedindustrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref><ref name=":26">[http://www.stats.gov.cn/sj/ndsj/2022/indexeh.htm China's Statistical Yearbook 2022 - 13, Industry]</ref>


Another 2013 study found that, in the largest developing economies, total assets held by the state sector as a% of GDP, China had by far the largest. With Non financial State assets being 176% of GDP, for Brazil it was 51%, India it was 75%, Indonesia it was 19%, Russia it was 64% and South Africa it was 3%. <ref>[https://www.elibrary.imf.org/display/book/9781513539942/ch11.xml Modernizing China, Investing in Soft Infrastructure. Chapter 11 - IMF]</ref> In comparison, in 2015, Italian, Korean, Saudi Arabian and Norway's state owned assets did not reach more than 25% of GDP.<ref>[https://www.elibrary.imf.org/view/journals/002/2021/012/article-A002-en.xml People’s Republic of China: Selected Issues, Volume 2021, issue 12] - IMF</ref> In 2016, for SOEs in developing European economies, the number did not exceed 100% of GDP, the median being around roughly 45%.<ref>[https://www.ebrd.com/what-we-do/economic-research-and-data/cse-economists/economic-performance-soes-in-emerging-economies.html Economic performance of state-owned enterprises in emerging economies, A cross country study] - European Bank for Reconstruction and Development</ref>
* Coal: 80.5%, 30129.2/37412
* Oil and Gas extraction: 85.4%, 16526.3/19333
* Ferrous metal mining and processing: 78.9%, 6719.5/8511.4
* Nonferrous metal mining and processing: 58.9%,  2615.2/4439.3 (14.5% MOE, 26.6% F/POE)
* Nonmetallic mineral mining and processing: 44.6%, 1873.8/4198.2 (23.2% MOE, 32.2% F/POE)
* Support activities for mining: 86.1%, 1277.7/1483.6
* Tobacco: 98%, 3276.2/3312.5
* Metal products, machinery and equipment repair: 70.8%, 816.8/1869
* Petroleum processing, coking and nuclear fuel processing: 56.4%, 12437.4/22015.2 (16.7% MOE, 26.9% F/POE)
* Railways, ships, aerospace and other transportation equipment: 63%,  6042.6/9589.9
* Other industrial manufacturing: 63.7%, 1014.5/1591.8
* Electricity, heat production and supply: 87.4%, 143289.5/163833.7
* Gas production and supply: 54.9%, 5503.7/10,021.4 (9.7% MOE, 35.4% F/POE)
* Water production and supply: 83.1%, 4,050.8/16,888.3
 
In 2021, according to official Chinese national data, SOEs had a sizeable non-current asset ownership in the following industrial sectors (measured in 100 million RMB):<ref name=":232">按行业分国有控股工业企业主要经济指标(2012-至今), 资产总计(亿元) - 国家数据, 国家统计局 Main economic indicators of state-owned industrial enterprises by industry (2012-present), Total assets of state-controlled industrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref> <ref name=":242">按行业分私营工业企业主要经济指标(2012-至今), 资产总计(亿元) - 国家数据, 国家统计局 Main economic indicators of private-owned industrial enterprises by industry (2012-present), Total assets of private-owned industrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref> <ref name=":252">按行业分外商及港澳台商投资工业企业主要经济指标(2012-至今), 资产总计(亿元) -  国家数据, 国家统计局Main economic indicators of foreign-funded (hong kong, macau and taiwan) industrial enterprises by industry (2012-present), Total assets of foreign-fundedindustrial enterprises (100 million yuan) - National Data, National bureau of statistics https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A0E070M&sj=2021</ref><ref name=":03">[http://www.stats.gov.cn/sj/ndsj/2022/indexeh.htm China's Statistical Yearbook 2022 - 13, Industry]</ref>
 
* Ferrous metal smelting and pressing: 50.3%, 18874.1/37450.5 (12.7% MOE, 37% F/POE)
* Non-ferrous metal smelting and pressing: 44.1%, 9368.4/21207.5 (22.4% MOE, 33.5% F/POE)
* Automobile industry: 44.2%, 16277.3/36799.3 (38.5% FOE, 17.1% POE)
 
In 2012, the total assets held by the State sector in China amounted to 55.78% or 53% depending on the estimate used.<ref>The Basic Economic System of China by Changhong Pei, Chunxu Yang and Xinming Yang, page 24-25</ref> However, in comparison with European nations during the same time period, the total assets of eastern European nations  held by the state sector were around 13%. For the Netherlands, Italy, Spain, France, Belgium and Portugal, it was around 4.60%. For Ireland and the UK, even less than that number. For Austria and Germany, around 10.79%. For Scandinavia, it was 6.02%<ref>[https://www.researchgate.net/publication/344833099_State-Owned_Enterprises_Across_Europe_Stylized_Facts_from_a_Large_Firm-Level_Dataset State-Owned Enterprises Across Europe: Stylized Facts from a Large Firm-Level Dataset], by Bram De Lange and Bruno Merlevede, p 17</ref>
 
Another 2013 study found that, in the largest developing economies, total assets held by the state sector as a % of GDP, China had by far the largest. With Non financial State assets being 176% of GDP, for Brazil it was 51%, India it was 75%, Indonesia it was 19%, Russia it was 64% and South Africa it was 3%. <ref>[https://www.elibrary.imf.org/display/book/9781513539942/ch11.xml Modernizing China, Investing in Soft Infrastructure. Chapter 11 - IMF]</ref> In comparison, in 2015, Italian, Korean, Saudi Arabian and Norway's state owned assets did not reach more than 25% of GDP.<ref>[https://www.elibrary.imf.org/view/journals/002/2021/012/article-A002-en.xml People’s Republic of China: Selected Issues, Volume 2021, issue 12] - IMF</ref> In 2016, for SOEs in developing European economies, the number did not exceed 100% of GDP, the median being around roughly 45%.<ref>[https://www.ebrd.com/what-we-do/economic-research-and-data/cse-economists/economic-performance-soes-in-emerging-economies.html Economic performance of state-owned enterprises in emerging economies, A cross country study] - European Bank for Reconstruction and Development</ref>


In 2014, China's top 500, 300 are SOEs, accounting for 60 percent. The operating revenues of these SOEs account for 79.9 percent of the total 56.68 trillion yuan, while total assets account for 91.2 percent, out of the total 176.4 trillion yuan. The total profit of these SOEs account for 83.9 percent out of the total 2.4 trillion yuan<ref>[http://www.china.org.cn/business/2014-09/03/content_33419397.htm China reveals new top 500 enterprises list] - Wang Zhiyong, China.org.cn</ref> In 2006, The report revealed that 349 enterprises in the list were state owned, accounting for nearly 70 percent of the total. Their combined assets reached 39 trillion yuan (4.87 trillion US dollars) at the end of 2005, accounting for 95 percent of the total. It showed that state-owned economy remained dominant and controls the leading industries in the national economy.<ref>[https://www.chinadaily.com.cn/bizchina/2006-09/03/content_680098_2.htm Top 500 account for 78% of China's GDP] - Biz.China, Xinhua.net</ref>Even in the 1990s after Reform and Opening Up, the ''OECD Agricultural Outlook/June - July 1999'' discuss how the state maintains control of the agricultural sector<blockquote>“Before 1980, government central planning dominated domestic grain marketing. The government’s Grain Bureau purchased, transported, stored, milled, and retailed all grain leaving the farm. Then in the 1980’s and early 1990’s, open markets became increasingly important as the government was no longer the sole purchaser and many provinces began phasing out a ration system that allowed urban consumers to purchase grain at low fixed prices (AO March 1997). But current grain policy, initiated in 1998, '''led to a reversal of the use of open markets for domestic distribution and an increase in government intervention in grain production and marketing'''''.'' This relatively recent return to intervention in the domestic market has led to higher grain output and reduced demand for imports.”</blockquote>And then proceeds to state in ''OECD Agricultural Policy Reform in China 2005'' <ref>[https://www.oecd.org/china/oecdreviewofagriculturalpolicies-china.htm OECD Review of Agricultural Policies - China] ISBN: 9789264012608 </ref>p6 states <blockquote>“Total support to China’s agricultural sector reached USD 41 billion per year in 2000-2003 which is equivalent to 3.3% of China’s GDP in this period. This percentage is much higher than the OECD average and suggests a relatively high burden of agricultural support on the Chinese economy.”</blockquote>Agriculture in China whilst dominated by private family production units at the micro level is dominated by state purchase and distribution at the macro level. This ensures that China is able to feed itself and that supplies of essential grains reach the entire national consumer market. Imports and exports of grain are determined by the state and implemented by its organizations, thus contrary to appearances, Chinese agriculture is dominated by the state.
In 2014, China's top 500, 300 are SOEs, accounting for 60 percent. The operating revenues of these SOEs account for 79.9 percent of the total 56.68 trillion yuan, while total assets account for 91.2 percent, out of the total 176.4 trillion yuan. The total profit of these SOEs account for 83.9 percent out of the total 2.4 trillion yuan<ref>[http://www.china.org.cn/business/2014-09/03/content_33419397.htm China reveals new top 500 enterprises list] - Wang Zhiyong, China.org.cn</ref> In 2006, The report revealed that 349 enterprises in the list were state owned, accounting for nearly 70 percent of the total. Their combined assets reached 39 trillion yuan (4.87 trillion US dollars) at the end of 2005, accounting for 95 percent of the total. It showed that state-owned economy remained dominant and controls the leading industries in the national economy.<ref>[https://www.chinadaily.com.cn/bizchina/2006-09/03/content_680098_2.htm Top 500 account for 78% of China's GDP] - Biz.China, Xinhua.net</ref>Even in the 1990s after Reform and Opening Up, the ''OECD Agricultural Outlook/June - July 1999'' discuss how the state maintains control of the agricultural sector<blockquote>“Before 1980, government central planning dominated domestic grain marketing. The government’s Grain Bureau purchased, transported, stored, milled, and retailed all grain leaving the farm. Then in the 1980’s and early 1990’s, open markets became increasingly important as the government was no longer the sole purchaser and many provinces began phasing out a ration system that allowed urban consumers to purchase grain at low fixed prices (AO March 1997). But current grain policy, initiated in 1998, '''led to a reversal of the use of open markets for domestic distribution and an increase in government intervention in grain production and marketing'''''.'' This relatively recent return to intervention in the domestic market has led to higher grain output and reduced demand for imports.”</blockquote>And then proceeds to state in ''OECD Agricultural Policy Reform in China 2005'' <ref>[https://www.oecd.org/china/oecdreviewofagriculturalpolicies-china.htm OECD Review of Agricultural Policies - China] ISBN: 9789264012608 </ref>p6 states <blockquote>“Total support to China’s agricultural sector reached USD 41 billion per year in 2000-2003 which is equivalent to 3.3% of China’s GDP in this period. This percentage is much higher than the OECD average and suggests a relatively high burden of agricultural support on the Chinese economy.”</blockquote>Agriculture in China whilst dominated by private family production units at the micro level is dominated by state purchase and distribution at the macro level. This ensures that China is able to feed itself and that supplies of essential grains reach the entire national consumer market. Imports and exports of grain are determined by the state and implemented by its organizations, thus contrary to appearances, Chinese agriculture is dominated by the state.
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