Reforming China’s lumbering state giants

State-owned enterprises are one of the biggest hurdles China faces in its ambitious reform program -- but will Beijing go through with the necessary reforms this time?

One of the biggest stumbling blocks for economic reform in China is state-owned enterprises. Many of these companies are direct descendants of former government ministries like the petroleum ministry. Their executives still enjoy ministerial ranks and they have red phones on their desks with a direct line to some of the most powerful party officials in the country.

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