For an economy that will need tens of billions of dollars in capital, there is a huge incentive for private and state-owned enterprises to clean up their acts, (see table).
Powerful state-owned enterprises, used to cheap credit, land and energy, will resist threats to these privileges.
Hundreds of thousands of workers in state-owned enterprises will have to find other jobs when their industries are fully exposed to market forces.
Much work remains to be done, from the reform of state-owned enterprises (SOEs) to boosting social-security provisions.
The only companies that had money back then were the large state-owned enterprises that were able to borrow all they wanted from the four large state-owned banks, or perhaps go public on one of the new stock exchanges in Shanghai and Shenzhen.
Many state-owned enterprises are now attempting to implement different forms of workers' control, with mixed results.
China's state-owned enterprises have won contracts to build railways, houses and power stations in the country.
Post-Soviet Armenia has embraced trade, made legal reforms, privatized state-owned enterprises and slashed inflation to 2.9% since joining the World Trade Organization in 2003.
While this might boost support for the president's Peronist party in the coming legislative elections, Argentina's dismal track record of infrastructure investments by state-owned enterprises should give pause to voters concerned about the quality of their utility services.
He also promised to overhaul bankrupt state-owned enterprises by the end of the year and "work energetically" to re-employ workers who had lost their jobs.
But in China, all the carriers are state-owned enterprises (SOEs) reporting to the State Council.
The existence of widespread shadow banking serving the private sector, however, indicates that state-owned enterprises have much easier access to credit.
She took on Britain's labor unions and whittled the size of the state through sweeping privatizations and the closure of unprofitable state-owned enterprises, from coal mines to steel plants.
She took on Britain's then-powerful labor unions and whittled the size of the state through sweeping privatizations and the closure of unprofitable state-owned enterprises, from coal mines to steel plants.
Instead, he spent the summer and fall slowly rebuilding the consensus behind the reform movement, patiently pushing the argument that China could not overhaul its inefficient state-owned enterprises without opening up further to international competition.
Women-owned firms are enjoying growth rates that exceed all but the largest U.S. corporations and these women-owned businesses account for 29% of all enterprises, according to The State of Women-Owned Businesses Report, a report commissioned by American Express OPEN.
Alternative lending is popular in China because state-owned banks tend to favour large companies, particularly state-owned enterprises, leaving small and medium-sized companies starved of credit.
FORBES: No Guarantees For China's Shadow Banks, Warns JPMorgan Economist
About half of bank lending goes to state-owned enterprises, although that share is falling.
In particular, it is claimed that the bulk of bank loans went to state-owned enterprises.
But it also slimmed the payroll, sold several city-owned enterprises and put some services out to private tender.
To date, however, the banking system has shortchanged depositors so that it can provide inexpensive credit to state-owned enterprises.
New Zealand's electricity is generated by two state-owned enterprises and transmitted by a third to retail companies such as Mercury.
Up to now, financing of China outbound deals have been dominated by cash-rich players, including private equity and sovereign wealth giants in addition to state-owned Enterprises.
Banks in China prefer loans that are secured by land, buildings and equipment, and are most comfortable lending to state-owned enterprises where there is an implicit government guaranty.
JPMorgan served as an advisor to Palmary Enterprises, owned by Ukrainian billionaire, Henadiy Boholyubov, in the bidding war for Consolidated Minerals, four years ago.
Along the way, Li, 47, has defied the odds in a country where government-owned enterprises have distinct advantages when it comes to raising capital or winning approval for expansion.
The government wants to divide up unused concessions owned by Total, a French company, and sell them to other enterprises.
The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises.
Many of the Chinese companies involved are privately held, like Shuanghui, as opposed to the big state-owned enterprises that often act on behalf of Beijing on the international stage.
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