Different Forms Of Ownership In China’s Economic Transition

Since the eighties of the last century, in the context of countries’exploring their own path of economic transformation, transition economics as an emerging discipline gradually gained wide attention and research. On the whole, the economic transition consists mainly of two aspects, one is the change of the basis in ownership, from public ownership to private ownership; another is the transformation of the economic operation mechanism, namely the allocation of resources is changed from the planned economy to a market economy system.China began the process of transformation of the economic system since1978. The process did not completely change the basis of public ownership, but promoted the establishment of the socialist market economic system. It also did not take a radical transition, but take a gradual transition strategy. Although there is not a fundamental change in the basis of ownership, the ownership structure of its national economic system is undergoing change, which is relatively slow but also affects economic operation significantly. So the paper analyzes the performance of the different forms of ownership for the development of the national economy within the process of China’s economic transition.The paper mainly contains two aspects:the part of theory and the part of empirical research. The former section includes chapter Ⅱ and chapter Ⅲ. Chapter Ⅱ focused on the theory of the economic transition and the ownership and the performance evaluation in economic system; Chapter Ⅲ describes different period of the development of some forms of ownership in China’s economic transition. And the recent phenomenon in which the state advances as the private sector retreats was also analyzed. The empirical section includes chapter V, which mainly evaluates the performance of industrial enterprises in different forms of ownership during China’s economic transition.Innovations of this paper:Firstly, many studies are always focused on the design and build of the system during economic transition when they analyze the performance. The paper selects the angle of ownership and analyzes the performance of industrial enterprises in various forms of ownership. Compared with previous studies, this angle is more unique, and the entry point is of depth. Taking into account the public has always been concerned about the proportion of different forms of ownership in many fields of the national economy, it appears to be more important to measure the performance of different forms of ownerships. From another perspective, the paper’s evaluation of performance could help China’s government make targeted policies and prospect for reform and transition in future. So according to two levels, this article evaluate institutional performance of the different forms of ownership is appropriate and meaningful.Secondly, Institutional performance of the different forms of ownership could be divided into the performance of economic growth and the performance of economic stability. The division examines both the effects of different forms of ownership in economic growth and the contributions they made in the field of long-term economic development. To some extent, the performance of the economic stability is even more important. Because the performance chooses employment and tax as main aspects of evaluation in the article, they could be better to reflect the level of social and public welfare.Inadequacies of the paper:First of all, in the empirical analysis of the performance of economic growth, there aren’t corresponding indicators of the different forms of ownership in Statistical Yearbook to be able to measure the precise inputs and outputs in enterprises. As an alternative indicator of resource inputs, corporate assets may influence the results with some error generated.Finally, in the empirical analysis, the reason why the paper divides analysis period into two stages is that there are some difficulties of data collections during the two phases, which result in the differences of research subjects in the empirical analysis. Although the initial idea is to measure the performance of the state-owned enterprises and private enterprises and foreign companies since the reform and opening up in China, the paper only do that after1993ultimately. From1978to1993, this paper is presented state-owned enterprises, collective enterprises and other economic elements as research subjects. Generally speaking, this inconsistency will also generate some interference for the empirical results.